Versor Investments LP Purchases New Shares in Pactiv Evergreen Inc. (NASDAQ:PTVE)

Versor Investments LP purchased a new position in Pactiv Evergreen Inc. (NASDAQ:PTVE) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 269,548 shares of the company’s stock, valued at approximately $4,709,000. Pactiv Evergreen makes up 0.8% of Versor Investments LP’s investment portfolio, making the stock its 11th biggest position. Versor Investments LP owned approximately 0.15% of Pactiv Evergreen as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its holdings in shares of Pactiv Evergreen by 111.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 145,240 shares of the company’s stock valued at $2,537,000 after purchasing an additional 76,440 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in Pactiv Evergreen in the 3rd quarter worth about $2,074,000. SG Americas Securities LLC purchased a new position in Pactiv Evergreen during the 4th quarter valued at about $270,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Pactiv Evergreen by 183.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 81,543 shares of the company’s stock valued at $939,000 after purchasing an additional 52,775 shares during the period. Finally, Alberta Investment Management Corp purchased a new stake in shares of Pactiv Evergreen in the fourth quarter worth approximately $9,958,000. Institutional investors and hedge funds own 22.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. UBS Group downgraded shares of Pactiv Evergreen from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $16.00 to $18.00 in a research report on Friday, January 10th. Citigroup restated a “neutral” rating and set a $18.00 price target (up from $13.00) on shares of Pactiv Evergreen in a report on Tuesday, December 10th. Jefferies Financial Group reiterated a “hold” rating and set a $18.00 price objective (up from $15.00) on shares of Pactiv Evergreen in a report on Wednesday, December 18th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $18.00 target price (up previously from $14.00) on shares of Pactiv Evergreen in a research note on Thursday, December 19th. Six analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $16.33.

Pactiv Evergreen Stock Down 0.1 %

PTVE stock opened at $17.83 on Thursday. The firm has a market cap of $3.20 billion, a PE ratio of -19.38, a PEG ratio of 1.47 and a beta of 1.24. Pactiv Evergreen Inc. has a 1 year low of $8.83 and a 1 year high of $17.86. The company has a fifty day simple moving average of $17.64 and a 200 day simple moving average of $14.19. 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 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.