Wolverine Asset Management LLC Invests $1.36 Million in Pactiv Evergreen Inc. (NASDAQ:PTVE)

Wolverine Asset Management LLC acquired a new position in Pactiv Evergreen Inc. (NASDAQ:PTVE - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 77,781 shares of the company's stock, valued at approximately $1,359,000.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in Pactiv Evergreen by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,088,854 shares of the company's stock worth $12,535,000 after purchasing an additional 10,158 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Pactiv Evergreen by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 982,661 shares of the company's stock valued at $11,310,000 after buying an additional 16,029 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Pactiv Evergreen by 17.3% during the 3rd quarter. Empowered Funds LLC now owns 741,456 shares of the company's stock worth $8,534,000 after acquiring an additional 109,513 shares during the period. Alberta Investment Management Corp acquired a new stake in shares of Pactiv Evergreen during the 4th quarter valued at about $9,958,000. Finally, JPMorgan Chase & Co. increased its stake in Pactiv Evergreen by 70.8% in the third quarter. JPMorgan Chase & Co. now owns 484,722 shares of the company's stock valued at $5,579,000 after acquiring an additional 200,873 shares during the period. Institutional investors and hedge funds own 22.23% of the company's stock.

Pactiv Evergreen Price Performance

NASDAQ PTVE traded up $0.01 during trading hours on Friday, reaching $17.83. 256,684 shares of the company's stock were exchanged, compared to its average volume of 537,565. The firm has a fifty day moving average of $17.61 and a 200-day moving average of $14.03. Pactiv Evergreen Inc. has a one year low of $8.83 and a one year high of $17.86. The stock has a market cap of $3.20 billion, a PE ratio of -19.38, a price-to-earnings-growth ratio of 1.47 and a beta of 1.24. The company has a current ratio of 1.93, a quick ratio of 1.04 and a debt-to-equity ratio of 3.26.

Analyst Upgrades and Downgrades

PTVE has been the subject of a number of analyst reports. Royal Bank of Canada restated a "sector perform" rating and set a $18.00 price target (up previously from $14.00) on shares of Pactiv Evergreen in a research note on Thursday, December 19th. Citigroup restated a "neutral" rating and set a $18.00 target price (up previously from $13.00) on shares of Pactiv Evergreen in a research report on Tuesday, December 10th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $18.00 price target (up previously from $15.00) on shares of Pactiv Evergreen in a research note on Wednesday, December 18th. Finally, UBS Group lowered Pactiv Evergreen from a "buy" rating to a "neutral" rating and increased their price objective for the stock from $16.00 to $18.00 in a research note on Friday, January 10th. Six analysts have rated the stock with a hold rating, According to MarketBeat.com, Pactiv Evergreen presently has a consensus rating of "Hold" and a consensus price target of $16.33.

Pactiv Evergreen 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.