Pactiv Evergreen Inc. (NASDAQ:PTVE) Receives Consensus Recommendation of "Hold" from Analysts

Shares of Pactiv Evergreen Inc. (NASDAQ:PTVE - Get Free Report) have been given an average recommendation of "Hold" by the six brokerages that are currently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $15.83.

Several analysts have recently weighed in on the company. Jefferies Financial Group reissued a "hold" rating and issued a $18.00 target price (up from $15.00) on shares of Pactiv Evergreen in a report on Wednesday, December 18th. Royal Bank of Canada reissued a "sector perform" rating and issued a $18.00 price objective (up from $14.00) on shares of Pactiv Evergreen in a report on Thursday, December 19th. Finally, Citigroup reiterated a "neutral" rating and issued a $18.00 price target (up previously from $13.00) on shares of Pactiv Evergreen in a research report on Tuesday, December 10th.

Hedge Funds Weigh In On Pactiv Evergreen

A number of large investors have recently bought and sold shares of PTVE. Federated Hermes Inc. lifted its holdings in shares of Pactiv Evergreen by 69.2% in the 2nd quarter. Federated Hermes Inc. now owns 3,605 shares of the company's stock valued at $41,000 after buying an additional 1,474 shares during the period. Point72 DIFC Ltd boosted 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 worth $89,000 after purchasing an additional 1,965 shares in the last quarter. Mackenzie Financial Corp acquired a new position in shares of Pactiv Evergreen during the 2nd quarter worth $114,000. Versor Investments LP purchased a new position in shares of Pactiv Evergreen in the 2nd quarter valued at about $118,000. Finally, Intech Investment Management LLC purchased a new stake in Pactiv Evergreen during the third quarter worth about $132,000. Hedge funds and other institutional investors own 22.23% of the company's stock.

Pactiv Evergreen Stock Down 0.2 %

PTVE stock traded down $0.03 during trading on Friday, hitting $17.43. 711,452 shares of the company's stock were exchanged, compared to its average volume of 980,826. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of -18.95, a PEG ratio of 1.70 and a beta of 1.35. Pactiv Evergreen has a 52-week low of $8.83 and a 52-week high of $17.61. The company has a current ratio of 1.93, a quick ratio of 1.04 and a debt-to-equity ratio of 3.26. The business has a 50-day moving average price of $14.54 and a two-hundred day moving average price of $12.58.

Pactiv Evergreen (NASDAQ:PTVE - Get Free Report) last posted its 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. Pactiv Evergreen had a negative net margin of 3.16% and a positive return on equity of 14.41%. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the firm posted $0.32 EPS. The company's revenue was down 3.3% on a year-over-year basis. As a group, equities research analysts expect that Pactiv Evergreen will post 1.03 EPS for the current 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 dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend was Monday, December 2nd. Pactiv Evergreen's dividend payout ratio is presently -43.48%.

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.