A&I Financial Services LLC Takes $744,000 Position in Pactiv Evergreen Inc. (NASDAQ:PTVE)

A&I Financial Services LLC bought a new position in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 42,613 shares of the company's stock, valued at approximately $744,000. Pactiv Evergreen makes up approximately 0.7% of A&I Financial Services LLC's portfolio, making the stock its 23rd largest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Alberta Investment Management Corp acquired a new position in shares of Pactiv Evergreen in the fourth quarter worth $9,958,000. Segall Bryant & Hamill LLC acquired a new stake in Pactiv Evergreen in the third quarter valued at approximately $3,899,000. Versor Investments LP purchased a new position in Pactiv Evergreen in the fourth quarter worth approximately $4,709,000. JPMorgan Chase & Co. grew its holdings in Pactiv Evergreen by 70.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 484,722 shares of the company's stock worth $5,579,000 after acquiring an additional 200,873 shares in the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in shares of Pactiv Evergreen in the 3rd quarter valued at approximately $2,074,000. 22.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. UBS Group lowered Pactiv Evergreen from a "buy" rating to a "neutral" rating and raised their target price for the stock from $16.00 to $18.00 in a research report on Friday, January 10th. Royal Bank of Canada restated a "sector perform" rating and issued a $18.00 target price (up previously from $14.00) on shares of Pactiv Evergreen in a report on Thursday, December 19th. Citigroup reaffirmed a "neutral" rating and issued a $18.00 target price (up from $13.00) on shares of Pactiv Evergreen in a research report on Tuesday, December 10th. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $18.00 price target (up from $15.00) on shares of Pactiv Evergreen in a research report on Wednesday, December 18th. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Pactiv Evergreen presently has an average rating of "Hold" and a consensus target price of $16.33.

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Pactiv Evergreen Stock Performance

NASDAQ:PTVE traded down $0.01 during trading hours on Monday, reaching $17.85. 684,687 shares of the company's stock were exchanged, compared to its average volume of 666,150. Pactiv Evergreen Inc. has a 1-year low of $8.83 and a 1-year high of $17.88. The company has a quick ratio of 1.04, a current ratio of 1.93 and a debt-to-equity ratio of 3.26. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of -19.40, a P/E/G ratio of 1.47 and a beta of 1.24. The company has a 50-day moving average of $17.66 and a 200 day moving average of $14.34.

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.