SG Americas Securities LLC Makes New Investment in Pactiv Evergreen Inc. (NASDAQ:PTVE)

SG Americas Securities LLC bought a new stake in Pactiv Evergreen Inc. (NASDAQ:PTVE) in the 4th quarter, Holdings Channel.com reports. The fund bought 15,435 shares of the company’s stock, valued at approximately $270,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PTVE. Intech Investment Management LLC bought a new position in Pactiv Evergreen in the third quarter valued at about $132,000. Paloma Partners Management Co bought a new position in shares of Pactiv Evergreen in the 3rd quarter valued at about $178,000. Verition Fund Management LLC bought a new position in shares of Pactiv Evergreen in the 3rd quarter valued at about $215,000. The Manufacturers Life Insurance Company grew its position in shares of Pactiv Evergreen by 5.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,794 shares of the company’s stock worth $303,000 after buying an additional 1,431 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Pactiv Evergreen by 43.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 38,833 shares of the company’s stock worth $447,000 after buying an additional 11,670 shares during the last quarter. Institutional investors own 22.23% of the company’s stock.

Pactiv Evergreen Stock Performance

Shares of Pactiv Evergreen stock opened at $17.74 on Thursday. Pactiv Evergreen Inc. has a 12 month low of $8.83 and a 12 month high of $17.81. The company has a current ratio of 1.93, a quick ratio of 1.04 and a debt-to-equity ratio of 3.26. The company has a market capitalization of $3.18 billion, a PE ratio of -19.28, a PEG ratio of 1.47 and a beta of 1.24. The stock’s fifty day simple moving average is $17.05 and its 200 day simple moving average is $13.54.

Pactiv Evergreen (NASDAQ:PTVE) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.36 earnings per share for the quarter, beating 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 business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the previous year, the business posted $0.32 EPS. Pactiv Evergreen’s revenue for the quarter was down 3.3% on a year-over-year basis. On average, research analysts predict that Pactiv Evergreen Inc. will post 1.05 EPS for the current year.

Pactiv Evergreen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Monday, December 2nd. Pactiv Evergreen’s dividend payout ratio (DPR) is presently -43.48%.

Analyst Upgrades and Downgrades

A number of analysts have commented on PTVE shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $18.00 target price (up previously from $14.00) on shares of Pactiv Evergreen in a report on Thursday, December 19th. Citigroup reiterated a “neutral” rating and issued a $18.00 price objective (up previously from $13.00) on shares of Pactiv Evergreen in a report on Tuesday, December 10th. Jefferies Financial Group restated a “hold” rating and set a $18.00 target price (up previously from $15.00) on shares of Pactiv Evergreen in a report on Wednesday, December 18th. Finally, UBS Group cut Pactiv Evergreen from a “buy” rating to a “neutral” rating and upped their price target for the company from $16.00 to $18.00 in a research note on Friday, January 10th. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $16.33.

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.