Empowered Funds LLC boosted its holdings in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE - Free Report) by 17.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 741,456 shares of the company's stock after buying an additional 109,513 shares during the period. Empowered Funds LLC owned approximately 0.41% of Pactiv Evergreen worth $8,534,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently bought and sold shares of the business. CWM LLC grew its holdings in shares of Pactiv Evergreen by 186.8% during the 2nd quarter. CWM LLC now owns 3,396 shares of the company's stock valued at $38,000 after acquiring an additional 2,212 shares in the last quarter. Federated Hermes Inc. grew its stake in Pactiv Evergreen by 69.2% in 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. Innealta Capital LLC acquired a new position in Pactiv Evergreen in the 2nd quarter worth about $83,000. Point72 DIFC Ltd raised its stake 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 worth $89,000 after purchasing an additional 1,965 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Pactiv Evergreen by 164.5% during the 1st quarter. Public Employees Retirement System of Ohio now owns 7,302 shares of the company's stock valued at $105,000 after buying an additional 4,541 shares during the last quarter. 22.23% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on the stock. UBS Group reduced their target price on shares of Pactiv Evergreen from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Robert W. Baird reduced their price objective on shares of Pactiv Evergreen from $15.00 to $12.00 and set a "neutral" rating for the company in a research note on Friday, August 2nd. Finally, Royal Bank of Canada lowered their target price on shares of Pactiv Evergreen from $15.00 to $13.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Pactiv Evergreen has an average rating of "Moderate Buy" and an average target price of $14.57.
Read Our Latest Stock Analysis on Pactiv Evergreen
Pactiv Evergreen Stock Performance
NASDAQ:PTVE traded up $0.03 during mid-day trading on Friday, hitting $12.29. 399,758 shares of the company's stock traded hands, compared to its average volume of 381,285. The company has a current ratio of 1.93, a quick ratio of 0.93 and a debt-to-equity ratio of 3.26. The firm has a 50 day moving average of $11.64 and a two-hundred day moving average of $11.84. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of -13.36, a price-to-earnings-growth ratio of 1.31 and a beta of 1.30. Pactiv Evergreen Inc. has a 12 month low of $8.83 and a 12 month high of $15.84.
Pactiv Evergreen (NASDAQ:PTVE - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.03. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.37 billion. Pactiv Evergreen had a negative net margin of 3.16% and a positive return on equity of 14.41%. Pactiv Evergreen's quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the company posted $0.32 earnings per share. On average, equities analysts forecast that Pactiv Evergreen Inc. will post 1.03 earnings per share for the current fiscal year.
Pactiv Evergreen Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Monday, December 2nd. Pactiv Evergreen's dividend payout ratio is currently -43.48%.
Pactiv Evergreen Profile
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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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