Versor Investments LP Takes Position in Pactiv Evergreen Inc. (NASDAQ:PTVE)

Versor Investments LP purchased a new position in Pactiv Evergreen Inc. (NASDAQ:PTVE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 269,548 shares of the company's stock, valued at approximately $4,709,000. Pactiv Evergreen accounts for approximately 0.8% of Versor Investments LP's investment portfolio, making the stock its 11th biggest holding. Versor Investments LP owned approximately 0.15% of Pactiv Evergreen as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Alberta Investment Management Corp purchased a new stake in shares of Pactiv Evergreen in the fourth quarter worth about $9,958,000. Segall Bryant & Hamill LLC bought a new stake in Pactiv Evergreen in the 3rd quarter worth approximately $3,899,000. JPMorgan Chase & Co. raised its holdings in shares of Pactiv Evergreen by 70.8% during the 3rd 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 in the last quarter. Victory Capital Management Inc. bought a new position in shares of Pactiv Evergreen during the 3rd quarter valued at approximately $2,074,000. Finally, Empowered Funds LLC grew its holdings in shares of Pactiv Evergreen by 17.3% in the third quarter. Empowered Funds LLC now owns 741,456 shares of the company's stock valued at $8,534,000 after purchasing an additional 109,513 shares in the last quarter. 22.23% of the stock is owned by hedge funds and other institutional investors.

Pactiv Evergreen Price Performance

NASDAQ PTVE traded down $0.01 during trading hours on Monday, hitting $17.85. 684,708 shares of the company's stock traded hands, compared to its average volume of 666,150. The company has a market capitalization of $3.22 billion, a PE ratio of -19.40, a PEG 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 52-week low of $8.83 and a 52-week high of $17.88. The firm's 50-day moving average is $17.66 and its 200-day moving average is $14.34.

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Wall Street Analysts Forecast Growth

PTVE has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed 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. UBS Group downgraded 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 report on Friday, January 10th. Jefferies Financial Group reaffirmed a "hold" rating and set a $18.00 target price (up from $15.00) on shares of Pactiv Evergreen in a research report on Wednesday, December 18th. Finally, Citigroup restated a "neutral" rating and issued a $18.00 price objective (up from $13.00) on shares of Pactiv Evergreen in a report on Tuesday, December 10th. Six analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $16.33.

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.