Pactiv Evergreen Inc. (NASDAQ:PTVE) Shares Sold by Jane Street Group LLC

Jane Street Group LLC trimmed its stake in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) by 43.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,678 shares of the company’s stock after selling 15,984 shares during the quarter. Jane Street Group LLC’s holdings in Pactiv Evergreen were worth $238,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Federated Hermes Inc. raised its position in shares of Pactiv Evergreen by 69.2% during the 2nd quarter. Federated Hermes Inc. now owns 3,605 shares of the company’s stock worth $41,000 after purchasing an additional 1,474 shares during the period. Point72 DIFC Ltd grew its holdings in Pactiv Evergreen by 33.2% in the 2nd quarter. Point72 DIFC Ltd now owns 7,876 shares of the company’s stock worth $89,000 after buying an additional 1,965 shares in the last quarter. Mackenzie Financial Corp bought a new position in Pactiv Evergreen in the 2nd quarter worth approximately $114,000. Intech Investment Management LLC bought a new position in Pactiv Evergreen in the 3rd quarter worth approximately $132,000. Finally, Wedbush Securities Inc. bought a new position in Pactiv Evergreen in the 2nd quarter worth approximately $145,000. 22.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PTVE shares. Jefferies Financial Group reissued 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. Citigroup reissued 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. UBS Group lowered Pactiv Evergreen from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $16.00 to $18.00 in a report on Friday. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $18.00 price objective (up from $14.00) on shares of Pactiv Evergreen in a report on Thursday, December 19th. Six investment analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $16.33.

Pactiv Evergreen Stock Performance

Shares of NASDAQ PTVE opened at $17.53 on Friday. The stock has a fifty day moving average price of $15.15 and a two-hundred day moving average price of $12.79. The company has a debt-to-equity ratio of 3.26, a quick ratio of 1.04 and a current ratio of 1.93. The firm has a market cap of $3.14 billion, a P/E ratio of -19.05, a PEG ratio of 1.70 and a beta of 1.24. Pactiv Evergreen Inc. has a 1 year low of $8.83 and a 1 year high of $17.65.

Pactiv Evergreen (NASDAQ:PTVE) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.37 billion. Pactiv Evergreen had a positive return on equity of 14.41% and a negative net margin of 3.16%. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period last year, the company posted $0.32 EPS. Research analysts forecast that Pactiv Evergreen Inc. will post 1.03 EPS for the current fiscal year.

Pactiv Evergreen Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date was Monday, December 2nd. Pactiv Evergreen’s payout ratio is currently -43.48%.

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.