Shares of Pactiv Evergreen Inc. (NASDAQ:PTVE - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $17.78 and last traded at $17.76, with a volume of 663171 shares. The stock had previously closed at $17.56.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on PTVE shares. UBS Group downgraded Pactiv Evergreen from a "buy" rating to a "neutral" rating and raised their target price for the company from $16.00 to $18.00 in a report on Friday, January 10th. Jefferies Financial Group reissued a "hold" rating and set a $18.00 price objective (up previously 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 set a $18.00 price target (up previously from $14.00) on shares of Pactiv Evergreen in a research note on Thursday, December 19th. Finally, Citigroup reaffirmed a "neutral" rating and set a $18.00 price objective (up from $13.00) on shares of Pactiv Evergreen in a report on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $16.33.
View Our Latest Analysis on Pactiv Evergreen
Pactiv Evergreen Trading Up 1.2 %
The company has a debt-to-equity ratio of 3.26, a quick ratio of 1.04 and a current ratio of 1.93. The business has a fifty day simple moving average of $15.85 and a 200 day simple moving average of $13.05. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of -19.32, a PEG ratio of 1.45 and a beta of 1.24.
Pactiv Evergreen (NASDAQ:PTVE - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.37 billion. Pactiv Evergreen had a positive return on equity of 14.41% and a negative net margin of 3.16%. The business's revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 earnings per share. As a group, equities analysts anticipate that Pactiv Evergreen Inc. will post 1.05 EPS for the current year.
Pactiv Evergreen Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Monday, December 2nd. Pactiv Evergreen's payout ratio is -43.48%.
Institutional Investors Weigh In On Pactiv Evergreen
Hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in Pactiv Evergreen in the 4th quarter valued at about $270,000. Assenagon Asset Management S.A. boosted its position in shares of Pactiv Evergreen by 111.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 145,240 shares of the company's stock worth $2,537,000 after acquiring an additional 76,440 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Pactiv Evergreen by 70.8% in the third quarter. JPMorgan Chase & Co. now owns 484,722 shares of the company's stock valued at $5,579,000 after purchasing an additional 200,873 shares during the period. Geode Capital Management LLC increased its position in Pactiv Evergreen by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,088,854 shares of the company's stock worth $12,535,000 after purchasing an additional 10,158 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in Pactiv Evergreen by 43.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 38,833 shares of the company's stock worth $447,000 after purchasing an additional 11,670 shares during the last quarter. Hedge funds and other institutional investors own 22.23% of the company's stock.
Pactiv Evergreen Company Profile
(
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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