Pactiv Evergreen Inc. (NASDAQ:PTVE - Get Free Report) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $17.81 and last traded at $17.80, with a volume of 41292 shares changing hands. The stock had previously closed at $17.78.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the company. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $18.00 target price (up from $14.00) on shares of Pactiv Evergreen in a research note on Thursday, December 19th. UBS Group downgraded shares of Pactiv Evergreen from a "buy" rating to a "neutral" rating and increased their price objective for the company from $16.00 to $18.00 in a report on Friday, January 10th. Jefferies Financial Group restated a "hold" rating and set a $18.00 price target (up previously from $15.00) on shares of Pactiv Evergreen in a research report on Wednesday, December 18th. Finally, Citigroup reiterated a "neutral" rating and issued a $18.00 price objective (up from $13.00) on shares of Pactiv Evergreen in a report on Tuesday, December 10th. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Pactiv Evergreen presently has a consensus rating of "Hold" and a consensus price target of $16.33.
Check Out Our Latest Stock Report on Pactiv Evergreen
Pactiv Evergreen Stock Performance
The company has a quick ratio of 1.04, a current ratio of 1.93 and a debt-to-equity ratio of 3.26. The stock has a 50-day moving average of $16.71 and a 200 day moving average of $13.39. The stock has a market cap of $3.18 billion, a PE ratio of -19.30, a P/E/G ratio of 1.47 and a beta of 1.24.
Pactiv Evergreen (NASDAQ:PTVE - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.03. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates 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 revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 EPS. Equities analysts predict that Pactiv Evergreen Inc. will post 1.05 EPS for the current fiscal year.
Pactiv Evergreen Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were given a $0.10 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 2.25%. Pactiv Evergreen's dividend payout ratio is currently -43.48%.
Institutional Investors Weigh In On Pactiv Evergreen
A number of institutional investors have recently made changes to their positions in PTVE. The Manufacturers Life Insurance Company boosted its position in shares of Pactiv Evergreen by 5.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,794 shares of the company's stock worth $303,000 after purchasing an additional 1,431 shares during the period. Rhumbline Advisers grew its stake in shares of Pactiv Evergreen by 2.2% in the fourth quarter. Rhumbline Advisers now owns 70,786 shares of the company's stock valued at $1,237,000 after buying an additional 1,538 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Pactiv Evergreen by 8.4% in the 4th quarter. Principal Financial Group Inc. now owns 21,614 shares of the company's stock valued at $378,000 after buying an additional 1,684 shares during the period. Point72 DIFC Ltd lifted its stake in 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 acquiring an additional 1,965 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in Pactiv Evergreen by 1,590.7% during the 4th quarter. Blue Trust Inc. now owns 7,963 shares of the company's stock worth $139,000 after acquiring an additional 7,492 shares in the last quarter. 22.23% of the stock is currently owned by institutional investors and hedge funds.
About Pactiv Evergreen
(
Get 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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