Chicago Capital Management LLC Invests $524,000 in Pactiv Evergreen Inc. (NASDAQ:PTVE)

Chicago Capital Management LLC purchased a new position in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 30,000 shares of the company's stock, valued at approximately $524,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. AlphaQuest LLC lifted its stake in Pactiv Evergreen by 10,155.9% during the 4th quarter. AlphaQuest LLC now owns 3,487 shares of the company's stock worth $61,000 after acquiring an additional 3,453 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Pactiv Evergreen by 1,590.7% during the fourth quarter. Blue Trust Inc. now owns 7,963 shares of the company's stock worth $139,000 after purchasing an additional 7,492 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Pactiv Evergreen in the fourth quarter valued at approximately $180,000. Intech Investment Management LLC acquired a new position in shares of Pactiv Evergreen in the third quarter valued at approximately $132,000. Finally, SG Americas Securities LLC purchased a new stake in Pactiv Evergreen during the 4th quarter worth approximately $270,000. 22.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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Pactiv Evergreen Stock Performance

Shares of NASDAQ:PTVE remained flat at $17.96 on Friday. The stock had a trading volume of 373,399 shares, compared to its average volume of 578,852. Pactiv Evergreen Inc. has a twelve month low of $8.83 and a twelve month high of $17.98. The stock has a market capitalization of $3.24 billion, a P/E ratio of -19.52, a PEG ratio of 1.47 and a beta of 1.24. The company has a debt-to-equity ratio of 3.26, a current ratio of 1.93 and a quick ratio of 1.04. The stock's fifty day moving average is $17.82 and its 200-day moving average is $15.23.

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.