Skandinaviska Enskilda Banken AB publ Invests $1.40 Million in Pactiv Evergreen Inc. (NASDAQ:PTVE)

Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 80,000 shares of the company's stock, valued at approximately $1,398,000.

Several other institutional investors have also recently made changes to their positions in PTVE. Geode Capital Management LLC grew its position in Pactiv Evergreen by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,088,854 shares of the company's stock valued at $12,535,000 after acquiring an additional 10,158 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Pactiv Evergreen by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 992,003 shares of the company's stock valued at $17,330,000 after purchasing an additional 9,342 shares during the period. Alpine Associates Management Inc. bought a new position in shares of Pactiv Evergreen in the fourth quarter worth about $14,325,000. Bank of New York Mellon Corp increased its stake in Pactiv Evergreen by 2.5% in the 4th quarter. Bank of New York Mellon Corp now owns 772,796 shares of the company's stock worth $13,501,000 after buying an additional 18,672 shares during the period. Finally, Alberta Investment Management Corp bought a new stake in Pactiv Evergreen during the 4th quarter valued at about $9,958,000. Institutional investors own 22.23% of the company's stock.

Analysts Set New Price Targets

PTVE has been the subject of several research analyst reports. Citigroup reaffirmed a "neutral" rating and set a $18.00 price target (up previously from $13.00) on shares of Pactiv Evergreen in a research note on Tuesday, December 10th. 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 report on Thursday, December 19th. UBS Group lowered Pactiv Evergreen from a "buy" rating to a "neutral" rating and raised their price target for the company from $16.00 to $18.00 in a research note on Friday, January 10th. Finally, Jefferies Financial Group restated a "hold" rating and issued a $18.00 price objective (up from $15.00) on shares of Pactiv Evergreen in a report on Wednesday, December 18th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $16.80.

Remove Ads

Pactiv Evergreen Stock Up 0.1 %

Shares of NASDAQ PTVE traded up $0.02 during mid-day trading on Friday, reaching $17.93. 1,063,092 shares of the company were exchanged, compared to its average volume of 560,001. The firm has a 50-day moving average of $17.78 and a 200 day moving average of $14.93. Pactiv Evergreen Inc. has a 1 year low of $8.83 and a 1 year high of $18.05. 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 market cap of $3.24 billion, a price-to-earnings ratio of -19.49, a P/E/G ratio of 1.47 and a beta of 1.24.

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.