Victory Capital Management Inc. Acquires 17,133 Shares of Pactiv Evergreen Inc. (NASDAQ:PTVE)

Victory Capital Management Inc. boosted its stake in Pactiv Evergreen Inc. (NASDAQ:PTVE - Free Report) by 9.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 197,308 shares of the company's stock after purchasing an additional 17,133 shares during the quarter. Victory Capital Management Inc. owned about 0.11% of Pactiv Evergreen worth $3,447,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Intech Investment Management LLC purchased a new stake in shares of Pactiv Evergreen in the third quarter worth about $132,000. Blue Trust Inc. increased its stake in Pactiv Evergreen by 1,590.7% in the 4th quarter. Blue Trust Inc. now owns 7,963 shares of the company's stock worth $139,000 after acquiring an additional 7,492 shares during the last quarter. Paloma Partners Management Co purchased a new stake in shares of Pactiv Evergreen during the 3rd quarter worth approximately $178,000. Verition Fund Management LLC bought a new position in shares of Pactiv Evergreen during the 3rd quarter valued at approximately $215,000. Finally, SG Americas Securities LLC purchased a new position in shares of Pactiv Evergreen in the fourth quarter valued at $270,000. Institutional investors own 22.23% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PTVE shares. 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. UBS Group downgraded shares of Pactiv Evergreen from a "buy" rating to a "neutral" rating and increased their price target for the company from $16.00 to $18.00 in a report on Friday, January 10th. Royal Bank of Canada reissued a "sector perform" rating and set a $18.00 price objective (up from $14.00) on shares of Pactiv Evergreen in a research note on Thursday, December 19th. Finally, Jefferies Financial Group reaffirmed 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. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Pactiv Evergreen currently has an average rating of "Hold" and a consensus target price of $16.80.

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Pactiv Evergreen Trading Up 0.1 %

Shares of Pactiv Evergreen stock traded up $0.02 during trading on Thursday, hitting $17.93. The stock had a trading volume of 183,870 shares, compared to its average volume of 557,858. The stock has a market cap of $3.24 billion, a PE ratio of -19.48, a PEG ratio of 1.47 and a beta of 1.24. Pactiv Evergreen Inc. has a 12 month low of $8.83 and a 12 month high of $18.05. The firm's fifty day simple moving average is $17.77 and its 200-day simple moving average is $14.91. The company has a debt-to-equity ratio of 3.26, a current ratio of 1.93 and a quick ratio of 1.04.

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.