Barclays PLC cut its stake in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE - Free Report) by 54.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 63,533 shares of the company's stock after selling 76,767 shares during the quarter. Barclays PLC's holdings in Pactiv Evergreen were worth $731,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in PTVE. Rubric Capital Management LP increased its stake in shares of Pactiv Evergreen by 3.3% in the 2nd quarter. Rubric Capital Management LP now owns 5,726,583 shares of the company's stock valued at $64,825,000 after buying an additional 185,190 shares during the period. Dimensional Fund Advisors LP increased its position in Pactiv Evergreen by 11.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,375,514 shares of the company's stock worth $26,890,000 after purchasing an additional 243,098 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Pactiv Evergreen by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 982,661 shares of the company's stock worth $11,310,000 after purchasing an additional 16,029 shares during the last quarter. Empowered Funds LLC raised its holdings in 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 purchasing an additional 109,513 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in Pactiv Evergreen by 25.9% during the 2nd quarter. Renaissance Technologies LLC now owns 590,600 shares of the company's stock valued at $6,686,000 after purchasing an additional 121,400 shares during the period. 22.23% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the stock. Jefferies Financial Group restated a "hold" rating and issued a $18.00 price objective (up from $15.00) on shares of Pactiv Evergreen in a report on Wednesday, December 18th. Royal Bank of Canada restated a "sector perform" rating and issued a $18.00 price objective (up previously from $14.00) on shares of Pactiv Evergreen in a research report on Thursday, December 19th. Finally, Citigroup reiterated a "neutral" rating and set a $18.00 target price (up from $13.00) on shares of Pactiv Evergreen in a report on Tuesday, December 10th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $15.86.
Read Our Latest Research Report on PTVE
Pactiv Evergreen Stock Down 0.1 %
Shares of PTVE traded down $0.01 during midday trading on Wednesday, hitting $17.47. The stock had a trading volume of 508,595 shares, compared to its average volume of 531,060. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of -18.99, a price-to-earnings-growth ratio of 1.70 and a beta of 1.35. The company has a 50 day simple moving average of $14.19 and a two-hundred day simple moving average of $12.46. Pactiv Evergreen Inc. has a twelve month low of $8.83 and a twelve month high of $17.61. The company has a debt-to-equity ratio of 3.26, a current ratio of 1.93 and a quick ratio of 1.04.
Pactiv Evergreen (NASDAQ:PTVE - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.36 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.37 billion. During the same quarter last year, the company posted $0.32 earnings per share. Pactiv Evergreen's quarterly revenue was down 3.3% on a year-over-year basis. On average, analysts anticipate that Pactiv Evergreen Inc. will post 1.03 EPS for the current year.
Pactiv Evergreen Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Monday, December 2nd. Pactiv Evergreen's payout ratio is currently -43.48%.
About Pactiv Evergreen
(
Free Report)
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.
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