Rhumbline Advisers Increases Holdings in Pactiv Evergreen Inc. (NASDAQ:PTVE)

Rhumbline Advisers grew its stake in Pactiv Evergreen Inc. (NASDAQ:PTVE) by 2.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,786 shares of the company’s stock after purchasing an additional 1,538 shares during the quarter. Rhumbline Advisers’ holdings in Pactiv Evergreen were worth $1,237,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PTVE. Intech Investment Management LLC bought a new position in shares of Pactiv Evergreen during the third quarter valued at $132,000. Blue Trust Inc. lifted its position in shares of Pactiv Evergreen by 1,590.7% during the 4th quarter. Blue Trust Inc. now owns 7,963 shares of the company’s stock valued at $139,000 after buying an additional 7,492 shares in the last quarter. Paloma Partners Management Co bought a new stake in shares of Pactiv Evergreen during the 3rd quarter valued at $178,000. Verition Fund Management LLC purchased a new position in shares of Pactiv Evergreen in the third quarter valued at about $215,000. Finally, SG Americas Securities LLC bought a new position in Pactiv Evergreen in the 4th quarter worth approximately $270,000. 22.23% of the stock is currently owned by hedge funds and other institutional investors.

Pactiv Evergreen Price Performance

PTVE stock opened at $17.87 on Thursday. 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 1 year low of $8.83 and a 1 year high of $17.88. The business has a 50 day simple moving average of $17.68 and a 200-day simple moving average of $14.43. The firm has a market capitalization of $3.23 billion, a PE ratio of -19.42, a price-to-earnings-growth ratio of 1.47 and a beta of 1.24.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PTVE. 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. Jefferies Financial Group restated a “hold” rating and issued a $18.00 price target (up from $15.00) on shares of Pactiv Evergreen in a report on Wednesday, December 18th. Royal Bank of Canada restated 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. Finally, UBS Group cut Pactiv Evergreen from a “buy” rating to a “neutral” rating and increased their target price for the company from $16.00 to $18.00 in a research report on Friday, January 10th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Pactiv Evergreen has a consensus rating of “Hold” and an average price target of $16.80.

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.