Pactiv Evergreen Inc. (NASDAQ:PTVE) Shares Acquired by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC increased its position in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) by 45.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 21,048 shares of the company’s stock after acquiring an additional 6,580 shares during the period. Los Angeles Capital Management LLC’s holdings in Pactiv Evergreen were worth $368,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Alberta Investment Management Corp purchased a new stake in Pactiv Evergreen during the fourth quarter worth about $9,958,000. Segall Bryant & Hamill LLC acquired a new position in shares of Pactiv Evergreen in the third quarter valued at approximately $3,899,000. JPMorgan Chase & Co. increased its stake in 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 buying an additional 200,873 shares during the period. Victory Capital Management Inc. acquired a new stake in Pactiv Evergreen during the 3rd quarter worth approximately $2,074,000. Finally, Empowered Funds LLC boosted its position in Pactiv Evergreen by 17.3% in the 3rd quarter. Empowered Funds LLC now owns 741,456 shares of the company’s stock valued at $8,534,000 after buying an additional 109,513 shares during the period. 22.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Pactiv Evergreen Stock Performance

NASDAQ:PTVE opened at $17.85 on Tuesday. The firm has a market capitalization of $3.22 billion, a PE ratio of -19.40, a price-to-earnings-growth 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. The business’s fifty day moving average price is $17.67 and its 200 day moving average price is $14.38. Pactiv Evergreen Inc. has a 12 month low of $8.83 and a 12 month high of $17.88.

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.