Charles Schwab Investment Management Inc. Has $17.33 Million Stake in Pactiv Evergreen Inc. (NASDAQ:PTVE)

Charles Schwab Investment Management Inc. grew its holdings in Pactiv Evergreen Inc. (NASDAQ:PTVE) by 1.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 992,003 shares of the company’s stock after purchasing an additional 9,342 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.55% of Pactiv Evergreen worth $17,330,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Rhumbline Advisers grew its position in shares of Pactiv Evergreen by 2.2% in the 4th quarter. Rhumbline Advisers now owns 70,786 shares of the company’s stock valued at $1,237,000 after buying an additional 1,538 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Pactiv Evergreen by 8.4% during the fourth quarter. Principal Financial Group Inc. now owns 21,614 shares of the company’s stock worth $378,000 after acquiring an additional 1,684 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in shares of Pactiv Evergreen by 45.5% during the 4th quarter. Los Angeles Capital Management LLC now owns 21,048 shares of the company’s stock worth $368,000 after purchasing an additional 6,580 shares in the last quarter. Blue Trust Inc. grew its stake 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 acquiring an additional 7,492 shares during the period. Finally, Geode Capital Management LLC increased its stake in Pactiv Evergreen by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,088,854 shares of the company’s stock valued at $12,535,000 after purchasing an additional 10,158 shares in the last quarter. Institutional investors and hedge funds own 22.23% of the company’s stock.

Pactiv Evergreen Stock Performance

NASDAQ PTVE opened at $17.91 on Friday. Pactiv Evergreen Inc. has a 52-week low of $8.83 and a 52-week high of $17.94. The company has a market capitalization of $3.24 billion, a P/E ratio of -19.47, a P/E/G ratio of 1.47 and a beta of 1.24. The company has a fifty day moving average of $17.78 and a 200-day moving average of $14.93. The company has a debt-to-equity ratio of 3.26, a quick ratio of 1.04 and a current ratio of 1.93.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PTVE. Jefferies Financial Group reaffirmed a “hold” rating and issued a $18.00 price target (up previously from $15.00) on shares of Pactiv Evergreen in a research report on Wednesday, December 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $18.00 price objective (up from $14.00) on shares of Pactiv Evergreen in a research report on Thursday, December 19th. Citigroup reiterated a “neutral” rating and issued a $18.00 target price (up from $13.00) on shares of Pactiv Evergreen in a research note on Tuesday, December 10th. Finally, UBS Group cut shares of Pactiv Evergreen from a “buy” rating to a “neutral” rating and upped their price target for the company from $16.00 to $18.00 in a research note on Friday, January 10th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, Pactiv Evergreen currently has an average 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.