Pactiv Evergreen Inc. (NASDAQ:PTVE) Given Average Recommendation of “Moderate Buy” by Analysts

Pactiv Evergreen Inc. (NASDAQ:PTVE) has received a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $15.14.

Separately, Citigroup reiterated a “neutral” rating and issued a $18.00 price objective (up from $13.00) on shares of Pactiv Evergreen in a report on Tuesday, December 10th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PTVE. Segall Bryant & Hamill LLC acquired a new position in shares of Pactiv Evergreen in the third quarter valued at about $3,899,000. Dimensional Fund Advisors LP raised its stake in Pactiv Evergreen by 11.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,375,514 shares of the company’s stock worth $26,890,000 after purchasing an additional 243,098 shares in the last quarter. Edgestream Partners L.P. boosted its holdings in Pactiv Evergreen by 182.3% in the 2nd quarter. Edgestream Partners L.P. now owns 322,743 shares of the company’s stock valued at $3,653,000 after purchasing an additional 208,409 shares during the period. Rubric Capital Management LP grew its position in shares of Pactiv Evergreen by 3.3% during the 2nd quarter. Rubric Capital Management LP now owns 5,726,583 shares of the company’s stock worth $64,825,000 after purchasing an additional 185,190 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new position in shares of Pactiv Evergreen during the third quarter worth approximately $2,074,000. Institutional investors own 22.23% of the company’s stock.

Pactiv Evergreen Trading Up 0.1 %

Pactiv Evergreen stock opened at $17.28 on Tuesday. The stock has a 50-day simple moving average of $12.86 and a 200 day simple moving average of $12.00. The stock has a market capitalization of $3.10 billion, a P/E ratio of -18.78, a PEG ratio of 1.70 and a beta of 1.35. The company has a debt-to-equity ratio of 3.26, a quick ratio of 1.04 and a current ratio of 1.93. Pactiv Evergreen has a 52 week low of $8.83 and a 52 week high of $17.61.

Pactiv Evergreen (NASDAQ:PTVE) last issued its earnings results on Tuesday, November 12th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. Pactiv Evergreen had a positive return on equity of 14.41% and a negative net margin of 3.16%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the company posted $0.32 EPS. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. Analysts expect that Pactiv Evergreen will post 1.03 earnings per share for the current year.

Pactiv Evergreen Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.40 annualized dividend and a yield of 2.31%. Pactiv Evergreen’s dividend payout ratio (DPR) is presently -43.48%.

Pactiv Evergreen Company Profile

Pactiv Evergreen Inc manufactures and distributes fresh foodservice and food merchandising products, and fresh beverage cartons in the United States, rest of North America, and internationally. It operates in two segments, Foodservice, and Food and Beverage Merchandising. The Foodservice segment offers food containers; drinkware, such as hot and cold cups and lids; and tableware, service ware, and other products.