American Century Companies Inc. Has $44.28 Million Holdings in Pactiv Evergreen Inc. (NASDAQ:PTVE)

American Century Companies Inc. decreased its holdings in Pactiv Evergreen Inc. (NASDAQ:PTVE) by 6.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,911,695 shares of the company’s stock after selling 248,999 shares during the quarter. American Century Companies Inc. owned 2.18% of Pactiv Evergreen worth $44,280,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Wedbush Securities Inc. acquired a new position in Pactiv Evergreen in the second quarter valued at about $145,000. Versor Investments LP acquired a new position in Pactiv Evergreen during the second quarter valued at approximately $118,000. Principal Financial Group Inc. lifted its stake in Pactiv Evergreen by 9.0% during the second quarter. Principal Financial Group Inc. now owns 20,856 shares of the company’s stock worth $236,000 after purchasing an additional 1,726 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Pactiv Evergreen in the 2nd quarter valued at $83,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Pactiv Evergreen in the second quarter valued at about $326,000. Institutional investors own 22.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PTVE shares. UBS Group cut their target price on shares of Pactiv Evergreen from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada reduced their price objective on Pactiv Evergreen from $15.00 to $13.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Robert W. Baird dropped their target price on Pactiv Evergreen from $15.00 to $12.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Citigroup lowered their price objective on Pactiv Evergreen from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Pactiv Evergreen presently has an average rating of “Moderate Buy” and an average target price of $14.57.

Pactiv Evergreen Stock Up 1.0 %

Shares of NASDAQ:PTVE opened at $11.29 on Tuesday. Pactiv Evergreen Inc. has a 1 year low of $7.58 and a 1 year high of $15.84. The company has a debt-to-equity ratio of 2.72, a current ratio of 2.04 and a quick ratio of 0.93. The business’s 50-day moving average is $11.43 and its 200-day moving average is $12.57. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of -24.54, a P/E/G ratio of 1.13 and a beta of 1.31.

Pactiv Evergreen (NASDAQ:PTVE) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.06). The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.36 billion. Pactiv Evergreen had a net margin of 1.49% and a return on equity of 13.34%. Pactiv Evergreen’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted $0.20 earnings per share. Equities research analysts predict that Pactiv Evergreen Inc. will post 0.98 earnings per share for the current year.

Pactiv Evergreen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend was Friday, August 30th. Pactiv Evergreen’s payout ratio is -86.96%.

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.