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

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

Other institutional investors and hedge funds also recently bought and sold shares of the company. Carlson Capital L.P. purchased a new position in shares of Pactiv Evergreen in the fourth quarter valued at approximately $926,000. Los Angeles Capital Management LLC boosted its position in Pactiv Evergreen by 45.5% in the 4th quarter. Los Angeles Capital Management LLC now owns 21,048 shares of the company's stock valued at $368,000 after buying an additional 6,580 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Pactiv Evergreen by 2.5% in the fourth quarter. Bank of New York Mellon Corp now owns 772,796 shares of the company's stock worth $13,501,000 after acquiring an additional 18,672 shares in the last quarter. Olympiad Research LP purchased a new stake in shares of Pactiv Evergreen during the fourth quarter worth $1,511,000. Finally, Wolverine Asset Management LLC acquired a new stake in shares of Pactiv Evergreen in the fourth quarter valued at $1,359,000. 22.23% of the stock is currently owned by hedge funds and other institutional investors.

Pactiv Evergreen Stock Performance

Shares of NASDAQ PTVE remained flat at $17.88 during mid-day trading on Thursday. 539,197 shares of the company were exchanged, compared to its average volume of 708,371. The stock has a market cap of $3.23 billion, a PE ratio of -19.43, a P/E/G ratio of 1.47 and a beta of 1.24. The company has a current ratio of 1.93, a quick ratio of 1.04 and a debt-to-equity ratio of 3.26. Pactiv Evergreen Inc. has a 1 year low of $8.83 and a 1 year high of $17.90. The stock has a 50-day simple moving average of $17.73 and a 200 day simple moving average of $14.69.

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Analyst Upgrades and Downgrades

Several research firms recently commented on PTVE. Royal Bank of Canada restated a "sector perform" rating and set a $18.00 price target (up previously from $14.00) on shares of Pactiv Evergreen in a report on Thursday, December 19th. 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 note 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 report on Wednesday, December 18th. Finally, UBS Group cut shares of Pactiv Evergreen from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $16.00 to $18.00 in a research report on Friday, January 10th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $16.80.

About Pactiv Evergreen

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.