SG Americas Securities LLC Makes New Investment in Pactiv Evergreen Inc. (NASDAQ:PTVE)

SG Americas Securities LLC purchased a new stake in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 15,435 shares of the company's stock, valued at approximately $270,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its position in shares of Pactiv Evergreen by 5.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,794 shares of the company's stock worth $303,000 after acquiring an additional 1,431 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Pactiv Evergreen by 183.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 81,543 shares of the company's stock valued at $939,000 after acquiring an additional 52,775 shares in the last quarter. Victory Capital Management Inc. bought a new position in shares of Pactiv Evergreen during the 3rd quarter worth approximately $2,074,000. Empowered Funds LLC raised its stake in shares of Pactiv Evergreen by 17.3% during the 3rd quarter. Empowered Funds LLC now owns 741,456 shares of the company's stock worth $8,534,000 after purchasing an additional 109,513 shares during the period. Finally, Segall Bryant & Hamill LLC purchased a new position in Pactiv Evergreen in the third quarter valued at approximately $3,899,000. 22.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PTVE has been the topic of several recent research reports. Royal Bank of Canada restated a "sector perform" rating and set a $18.00 target price (up previously from $14.00) on shares of Pactiv Evergreen in a research report on Thursday, December 19th. Citigroup reissued a "neutral" rating and issued a $18.00 target price (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 target (up previously from $15.00) on shares of Pactiv Evergreen in a report on Wednesday, December 18th. Finally, UBS Group cut Pactiv Evergreen from a "buy" rating to a "neutral" rating and boosted their target price for the company from $16.00 to $18.00 in a research note on Friday, January 10th. Six investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Pactiv Evergreen currently has an average rating of "Hold" and a consensus price target of $16.33.

Pactiv Evergreen Stock Down 0.1 %

Pactiv Evergreen stock traded down $0.02 during mid-day trading on Thursday, hitting $17.72. The company had a trading volume of 559,485 shares, compared to its average volume of 774,874. Pactiv Evergreen Inc. has a 12 month low of $8.83 and a 12 month high of $17.81. The company has a market capitalization of $3.18 billion, a PE ratio of -19.26, a price-to-earnings-growth ratio of 1.47 and a beta of 1.24. The stock's 50 day moving average price is $17.05 and its two-hundred day moving average price is $13.54. 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 (NASDAQ:PTVE - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.36 EPS 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 the consensus estimate 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 for the quarter was down 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 EPS. As a group, sell-side analysts anticipate that Pactiv Evergreen Inc. will post 1.05 earnings per share for the current fiscal year.

Pactiv Evergreen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were given a $0.10 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.40 annualized dividend and a yield of 2.26%. Pactiv Evergreen's dividend payout ratio (DPR) is presently -43.48%.

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.