Principal Financial Group Inc. Has $378,000 Stock Holdings in Pactiv Evergreen Inc. (NASDAQ:PTVE)

Principal Financial Group Inc. increased its position in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) by 8.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,614 shares of the company’s stock after acquiring an additional 1,684 shares during the quarter. Principal Financial Group Inc.’s holdings in Pactiv Evergreen were worth $378,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Rhumbline Advisers lifted its stake in shares of Pactiv Evergreen by 2.2% during the fourth quarter. Rhumbline Advisers now owns 70,786 shares of the company’s stock valued at $1,237,000 after acquiring an additional 1,538 shares during the period. Blue Trust Inc. increased its holdings in Pactiv Evergreen by 1,590.7% in the fourth quarter. Blue Trust Inc. now owns 7,963 shares of the company’s stock valued at $139,000 after purchasing an additional 7,492 shares during the last quarter. SG Americas Securities LLC bought a new stake in Pactiv Evergreen in the fourth quarter valued at about $270,000. Assenagon Asset Management S.A. increased its holdings in 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 during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Pactiv Evergreen by 70.8% in the third quarter. JPMorgan Chase & Co. now owns 484,722 shares of the company’s stock valued at $5,579,000 after purchasing an additional 200,873 shares during the last quarter. Institutional investors and hedge funds own 22.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PTVE shares. Citigroup reiterated a “neutral” rating and issued a $18.00 price objective (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 upped their price objective for the company from $16.00 to $18.00 in a report on Friday, January 10th. Jefferies Financial Group reiterated a “hold” rating and issued a $18.00 price objective (up previously from $15.00) on shares of Pactiv Evergreen in a report on Wednesday, December 18th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $18.00 price objective (up previously from $14.00) on shares of Pactiv Evergreen in a report on Thursday, December 19th. Five analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $16.80.

Pactiv Evergreen Stock Up 0.1 %

Shares of Pactiv Evergreen stock opened at $17.87 on Friday. Pactiv Evergreen Inc. has a 1 year low of $8.83 and a 1 year high of $17.89. The business has a 50-day moving average of $17.70 and a two-hundred day moving average of $14.48. The company has a market capitalization of $3.23 billion, a P/E ratio of -19.42, 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.

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.