Assenagon Asset Management S.A. Buys 76,440 Shares of Pactiv Evergreen Inc. (NASDAQ:PTVE)

Assenagon Asset Management S.A. lifted its position in Pactiv Evergreen Inc. (NASDAQ:PTVE - Free Report) by 111.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 145,240 shares of the company's stock after purchasing an additional 76,440 shares during the quarter. Assenagon Asset Management S.A. owned about 0.08% of Pactiv Evergreen worth $2,537,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Federated Hermes Inc. raised its position in Pactiv Evergreen by 69.2% during the second quarter. Federated Hermes Inc. now owns 3,605 shares of the company's stock valued at $41,000 after purchasing an additional 1,474 shares in the last quarter. Point72 DIFC Ltd increased its position in shares of Pactiv Evergreen by 33.2% during the 2nd quarter. Point72 DIFC Ltd now owns 7,876 shares of the company's stock valued at $89,000 after purchasing an additional 1,965 shares during the last quarter. Mackenzie Financial Corp purchased a new position in shares of Pactiv Evergreen during the 2nd quarter valued at about $114,000. Intech Investment Management LLC bought a new stake in Pactiv Evergreen in the 3rd quarter worth approximately $132,000. Finally, Paloma Partners Management Co purchased a new stake in Pactiv Evergreen in the third quarter worth approximately $178,000. Hedge funds and other institutional investors own 22.23% of the company's stock.

Pactiv Evergreen Trading Up 0.1 %

Shares of PTVE stock traded up $0.02 during mid-day trading on Thursday, reaching $17.78. The stock had a trading volume of 401,545 shares, compared to its average volume of 913,803. The firm has a market capitalization of $3.19 billion, a PE ratio of -19.33, a price-to-earnings-growth ratio of 1.47 and a beta of 1.24. The stock's 50-day moving average price is $16.09 and its two-hundred day moving average price is $13.13. The company has a current ratio of 1.93, a quick ratio of 1.04 and a debt-to-equity ratio of 3.26. Pactiv Evergreen Inc. has a 52-week low of $8.83 and a 52-week high of $17.81.

Pactiv Evergreen (NASDAQ:PTVE - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.37 billion. Pactiv Evergreen had a positive return on equity of 14.41% and a negative net margin of 3.16%. Pactiv Evergreen's quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.32 EPS. Equities analysts expect that Pactiv Evergreen Inc. will post 1.05 earnings per share for the current fiscal year.

Pactiv Evergreen Announces Dividend

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

Analyst Ratings Changes

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