Victory Capital Management Inc. Has $3.45 Million Position in Pactiv Evergreen Inc. (NASDAQ:PTVE)

Victory Capital Management Inc. grew its holdings in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) by 9.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 197,308 shares of the company’s stock after acquiring an additional 17,133 shares during the period. Victory Capital Management Inc. owned 0.11% of Pactiv Evergreen worth $3,447,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. boosted 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 worth $139,000 after purchasing an additional 7,492 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Pactiv Evergreen during the 3rd quarter worth about $132,000. SG Americas Securities LLC bought a new position in shares of Pactiv Evergreen during the 4th quarter worth about $270,000. Paloma Partners Management Co bought a new position in shares of Pactiv Evergreen during the 3rd quarter worth about $178,000. Finally, Verition Fund Management LLC bought a new position in shares of Pactiv Evergreen during the 3rd quarter worth about $215,000. Institutional investors own 22.23% of the company’s stock.

Pactiv Evergreen Price Performance

Shares of NASDAQ PTVE opened at $17.88 on Monday. Pactiv Evergreen Inc. has a fifty-two week low of $8.83 and a fifty-two week high of $17.90. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of -19.43, a PEG ratio of 1.47 and a beta of 1.24. 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’s 50-day simple moving average is $17.75 and its 200 day simple moving average is $14.80.

Wall Street Analysts Forecast Growth

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

About Pactiv Evergreen

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.