Proficio Capital Partners LLC Invests $424,000 in Pactiv Evergreen Inc. (NASDAQ:PTVE)

Proficio Capital Partners LLC purchased a new position in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 24,283 shares of the company's stock, valued at approximately $424,000.

A number of other large investors have also added to or reduced their stakes in the business. Alberta Investment Management Corp acquired a new position in Pactiv Evergreen during the 4th quarter worth about $9,958,000. Versor Investments LP bought a new position in shares of Pactiv Evergreen during the fourth quarter worth about $4,709,000. JPMorgan Chase & Co. lifted its stake in shares of Pactiv Evergreen by 70.8% in the third quarter. JPMorgan Chase & Co. now owns 484,722 shares of the company's stock worth $5,579,000 after acquiring an additional 200,873 shares during the period. Victory Capital Management Inc. bought a new stake in Pactiv Evergreen in the third quarter valued at approximately $2,074,000. Finally, Olympiad Research LP acquired a new stake in Pactiv Evergreen during the 4th quarter valued at approximately $1,511,000. Institutional investors own 22.23% of the company's stock.

Pactiv Evergreen Stock Performance

Pactiv Evergreen stock remained flat at $17.96 during midday trading on Friday. The company had a trading volume of 373,399 shares, compared to its average volume of 577,760. The business has a 50 day moving average price of $17.81 and a two-hundred day moving average price of $15.15. The company has a market cap of $3.24 billion, a P/E ratio of -19.52, a P/E/G ratio of 1.47 and a beta of 1.24. The company has a debt-to-equity ratio of 3.26, a current ratio of 1.93 and a quick ratio of 1.04. Pactiv Evergreen Inc. has a twelve month low of $8.83 and a twelve month high of $18.04.

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Wall Street Analysts Forecast Growth

PTVE has been the topic of a number of analyst reports. UBS Group lowered shares of Pactiv Evergreen from a "buy" rating to a "neutral" rating and upped their price objective for the company from $16.00 to $18.00 in a research note on Friday, January 10th. Citigroup reiterated a "neutral" rating and set a $18.00 price target (up from $13.00) on shares of Pactiv Evergreen in a report on Tuesday, December 10th. Jefferies Financial Group reissued a "hold" rating and issued a $18.00 price objective (up from $15.00) on shares of Pactiv Evergreen in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $18.00 target price (up from $14.00) on shares of Pactiv Evergreen in a report on Thursday, December 19th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, Pactiv Evergreen presently has a consensus rating of "Hold" and a consensus price target of $16.80.

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.