Pactiv Evergreen Inc. (NASDAQ:PTVE) Shares Bought by Bailard Inc.

Bailard Inc. grew its holdings in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) by 182.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 52,200 shares of the company’s stock after acquiring an additional 33,688 shares during the quarter. Bailard Inc.’s holdings in Pactiv Evergreen were worth $716,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Greenwich Wealth Management LLC bought a new position in Pactiv Evergreen during the third quarter valued at about $84,000. Rubric Capital Management LP increased its holdings in shares of Pactiv Evergreen by 3.8% during the 3rd quarter. Rubric Capital Management LP now owns 5,000,000 shares of the company’s stock valued at $40,650,000 after acquiring an additional 184,217 shares during the last quarter. GSA Capital Partners LLP increased its holdings in shares of Pactiv Evergreen by 92.9% during the 3rd quarter. GSA Capital Partners LLP now owns 92,222 shares of the company’s stock valued at $750,000 after acquiring an additional 44,410 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Pactiv Evergreen by 0.7% during the 3rd quarter. American Century Companies Inc. now owns 5,393,773 shares of the company’s stock valued at $43,851,000 after acquiring an additional 38,104 shares during the last quarter. Finally, Swiss National Bank grew its holdings in Pactiv Evergreen by 2.1% in the 3rd quarter. Swiss National Bank now owns 97,900 shares of the company’s stock valued at $796,000 after buying an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 22.23% of the company’s stock.

Pactiv Evergreen Stock Performance

Pactiv Evergreen stock opened at $15.53 on Friday. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.93 and a current ratio of 2.00. Pactiv Evergreen Inc. has a one year low of $6.85 and a one year high of $15.65. The business has a 50 day simple moving average of $14.20 and a 200 day simple moving average of $12.89.

Pactiv Evergreen (NASDAQ:PTVE) last issued its quarterly earnings data on Friday, March 1st. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.19. Pactiv Evergreen had a positive return on equity of 13.24% and a negative net margin of 4.05%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the company posted $0.18 EPS. The business’s revenue for the quarter was down 13.7% compared to the same quarter last year. Research analysts anticipate that Pactiv Evergreen Inc. will post 1.13 EPS for the current fiscal year.

Pactiv Evergreen Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.10 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.40 annualized dividend and a dividend yield of 2.58%. Pactiv Evergreen’s dividend payout ratio (DPR) is currently -31.75%.

Analyst Ratings Changes

PTVE has been the topic of a number of research analyst reports. Bank of America raised Pactiv Evergreen from a “neutral” rating to a “buy” rating and raised their target price for the company from $14.00 to $16.00 in a report on Tuesday, January 2nd. Jefferies Financial Group initiated coverage on Pactiv Evergreen in a report on Friday, January 19th. They issued a “buy” rating and a $18.00 target price on the stock. UBS Group initiated coverage on Pactiv Evergreen in a report on Tuesday, January 16th. They issued a “buy” rating and a $19.00 target price on the stock. Citigroup raised their target price on Pactiv Evergreen from $15.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $18.00 target price on shares of Pactiv Evergreen in a report on Monday, March 4th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.00.

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.