60,000 Shares in Pactiv Evergreen Inc. (NASDAQ:PTVE) Purchased by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Pactiv Evergreen Inc. (NASDAQ:PTVE - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 60,000 shares of the company's stock, valued at approximately $1,048,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Magnetar Financial LLC acquired a new position in shares of Pactiv Evergreen during the fourth quarter worth about $53,645,000. Geode Capital Management LLC lifted its stake in Pactiv Evergreen by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,088,854 shares of the company's stock valued at $12,535,000 after acquiring an additional 10,158 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Pactiv Evergreen by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 992,003 shares of the company's stock worth $17,330,000 after acquiring an additional 9,342 shares during the last quarter. Alpine Associates Management Inc. bought a new position in shares of Pactiv Evergreen during the 4th quarter worth approximately $14,325,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Pactiv Evergreen by 2.5% in the fourth quarter. Bank of New York Mellon Corp now owns 772,796 shares of the company's stock valued at $13,501,000 after purchasing an additional 18,672 shares during the last quarter. Institutional investors and hedge funds own 22.23% of the company's stock.

Pactiv Evergreen Price Performance

Shares of PTVE stock remained flat at $17.96 on Friday. 373,399 shares of the stock were exchanged, compared to its average volume of 578,852. Pactiv Evergreen Inc. has a 12 month low of $8.83 and a 12 month high of $17.98. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of -19.52, a price-to-earnings-growth ratio of 1.47 and a beta of 1.24. The stock's 50 day moving average price is $17.82 and its 200-day moving average price is $15.26. The company has a quick ratio of 1.04, a current ratio of 1.93 and a debt-to-equity ratio of 3.26.

Analyst Ratings Changes

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

About Pactiv Evergreen

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.