Proficio Capital Partners LLC Purchases New Position in Pactiv Evergreen Inc. (NASDAQ:PTVE)

Proficio Capital Partners LLC purchased a new stake in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 24,283 shares of the company’s stock, valued at approximately $424,000.

A number of other institutional investors also recently modified their holdings of the business. Carlson Capital L.P. purchased a new stake in Pactiv Evergreen in the 4th quarter worth approximately $926,000. Los Angeles Capital Management LLC increased its holdings in shares of Pactiv Evergreen by 45.5% in the 4th quarter. Los Angeles Capital Management LLC now owns 21,048 shares of the company’s stock worth $368,000 after buying an additional 6,580 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Pactiv Evergreen by 2.5% in the 4th quarter. Bank of New York Mellon Corp now owns 772,796 shares of the company’s stock worth $13,501,000 after buying an additional 18,672 shares during the last quarter. Olympiad Research LP bought a new position in shares of Pactiv Evergreen in the 4th quarter worth $1,511,000. Finally, Wolverine Asset Management LLC bought a new position in shares of Pactiv Evergreen during the 4th quarter valued at $1,359,000. 22.23% of the stock is currently owned by hedge funds and other institutional investors.

Pactiv Evergreen Price Performance

Shares of NASDAQ:PTVE opened at $17.83 on Tuesday. 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 fifty day moving average price of $17.71 and a 200 day moving average price of $14.62. Pactiv Evergreen Inc. has a fifty-two week low of $8.83 and a fifty-two week high of $17.89. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of -19.38, a P/E/G ratio of 1.47 and a beta of 1.24.

Analyst Ratings Changes

PTVE has been the topic of several recent research reports. UBS Group lowered shares of 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 report on Friday, January 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $18.00 target price (up previously from $14.00) on shares of Pactiv Evergreen in a report on Thursday, December 19th. Citigroup reaffirmed a “neutral” rating and set a $18.00 target price (up previously from $13.00) on shares of Pactiv Evergreen in a report on Tuesday, December 10th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $18.00 target price (up previously from $15.00) on shares of Pactiv Evergreen in a report on Wednesday, December 18th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Pactiv Evergreen currently has a consensus rating of “Hold” and an average price target of $16.80.

Pactiv Evergreen Company 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.