Advisors Asset Management Inc. Reduces Stock Holdings in Pactiv Evergreen Inc. (NASDAQ:PTVE)

Advisors Asset Management Inc. lowered its position in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE - Free Report) by 64.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 122,442 shares of the company's stock after selling 223,124 shares during the period. Advisors Asset Management Inc. owned approximately 0.07% of Pactiv Evergreen worth $2,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. AlphaQuest LLC increased its holdings in Pactiv Evergreen by 10,155.9% in the 4th quarter. AlphaQuest LLC now owns 3,487 shares of the company's stock valued at $61,000 after purchasing an additional 3,453 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Pactiv Evergreen in the third quarter valued at $132,000. Blue Trust Inc. raised its holdings in shares of Pactiv Evergreen by 1,590.7% in the 4th quarter. Blue Trust Inc. now owns 7,963 shares of the company's stock valued at $139,000 after buying an additional 7,492 shares during the period. Paloma Partners Management Co acquired a new position in Pactiv Evergreen during the 3rd quarter worth about $178,000. Finally, Verition Fund Management LLC purchased a new position in Pactiv Evergreen during the 3rd quarter valued at about $215,000. Hedge funds and other institutional investors own 22.23% of the company's stock.

Analysts Set New Price Targets

PTVE has been the topic of a number of recent research reports. Royal Bank of Canada reiterated a "sector perform" rating and set a $18.00 price target (up from $14.00) on shares of Pactiv Evergreen in a research note on Thursday, December 19th. Jefferies Financial Group reiterated a "hold" rating and set a $18.00 target price (up from $15.00) on shares of Pactiv Evergreen in a report on Wednesday, December 18th. UBS Group downgraded shares of Pactiv Evergreen from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $16.00 to $18.00 in a research note on Friday, January 10th. Finally, Citigroup reaffirmed a "neutral" rating and set a $18.00 price objective (up previously from $13.00) on shares of Pactiv Evergreen in a research report on Tuesday, December 10th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $16.80.

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Pactiv Evergreen Stock Up 0.1 %

NASDAQ PTVE traded up $0.02 on Wednesday, hitting $17.96. 699,214 shares of the stock were exchanged, compared to its average volume of 563,548. Pactiv Evergreen Inc. has a fifty-two week low of $8.83 and a fifty-two week high of $17.98. The company has a 50-day moving average price of $17.80 and a 200-day moving average price of $15.11. The company has a market cap of $3.24 billion, a PE ratio of -19.52, a PEG ratio of 1.47 and a beta of 1.24. The company has a quick ratio of 1.04, a current ratio of 1.93 and a debt-to-equity ratio of 3.26.

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.