Pactiv Evergreen Inc. (NASDAQ:PTVE) Shares Acquired by Rubric Capital Management LP

Rubric Capital Management LP raised its position in Pactiv Evergreen Inc. (NASDAQ:PTVE) by 3.3% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 5,726,583 shares of the company’s stock after buying an additional 185,190 shares during the quarter. Pactiv Evergreen comprises about 1.7% of Rubric Capital Management LP’s holdings, making the stock its 21st largest position. Rubric Capital Management LP owned approximately 3.20% of Pactiv Evergreen worth $64,825,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PTVE. Charles Schwab Investment Management Inc. increased its stake in Pactiv Evergreen by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 988,128 shares of the company’s stock valued at $13,547,000 after buying an additional 24,018 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Pactiv Evergreen by 23.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,613,830 shares of the company’s stock worth $22,126,000 after purchasing an additional 307,239 shares in the last quarter. TFO Wealth Partners LLC boosted its position in shares of Pactiv Evergreen by 111,150.0% during the 4th quarter. TFO Wealth Partners LLC now owns 2,225 shares of the company’s stock worth $31,000 after purchasing an additional 2,223 shares in the last quarter. Bridgeway Capital Management LLC boosted its position in shares of Pactiv Evergreen by 11.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 1,253,850 shares of the company’s stock worth $17,190,000 after buying an additional 133,619 shares in the last quarter. Finally, ICA Group Wealth Management LLC purchased a new stake in shares of Pactiv Evergreen in the 4th quarter worth about $27,000. 22.23% of the stock is owned by institutional investors and hedge funds.

Pactiv Evergreen Stock Performance

Pactiv Evergreen stock opened at $11.98 on Friday. The stock has a market cap of $2.15 billion, a P/E ratio of -26.04, a price-to-earnings-growth ratio of 1.17 and a beta of 1.31. The company has a current ratio of 2.04, a quick ratio of 0.93 and a debt-to-equity ratio of 2.72. The stock has a 50 day moving average of $11.46 and a 200-day moving average of $12.55. Pactiv Evergreen Inc. has a 52 week low of $7.58 and a 52 week high of $15.84.

Pactiv Evergreen (NASDAQ:PTVE) last announced its quarterly earnings data 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). Pactiv Evergreen had a return on equity of 13.34% and a net margin of 1.49%. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the business earned $0.20 earnings per share. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, analysts expect that Pactiv Evergreen Inc. will post 0.98 EPS for the current fiscal year.

Pactiv Evergreen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.34%. The ex-dividend date was Friday, August 30th. Pactiv Evergreen’s dividend payout ratio is presently -86.96%.

Wall Street Analysts Forecast Growth

PTVE has been the topic of several recent research reports. UBS Group decreased their price objective 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. Robert W. Baird reduced their target price on shares of Pactiv Evergreen from $15.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Citigroup reduced their target price on shares of Pactiv Evergreen from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Finally, Royal Bank of Canada reduced their target price on shares of Pactiv Evergreen from $15.00 to $13.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $14.57.

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.