Pactiv Evergreen Inc. (NASDAQ:PTVE) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) have earned a consensus rating of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $15.14.

Separately, 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 note on Tuesday, December 10th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Segall Bryant & Hamill LLC bought a new stake in Pactiv Evergreen during the third quarter worth about $3,899,000. Dimensional Fund Advisors LP increased its position in shares of Pactiv Evergreen by 11.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,375,514 shares of the company’s stock worth $26,890,000 after purchasing an additional 243,098 shares during the last quarter. Edgestream Partners L.P. increased its position in shares of Pactiv Evergreen by 182.3% during the 2nd quarter. Edgestream Partners L.P. now owns 322,743 shares of the company’s stock worth $3,653,000 after purchasing an additional 208,409 shares during the last quarter. Rubric Capital Management LP raised its stake in shares of Pactiv Evergreen by 3.3% during the 2nd quarter. Rubric Capital Management LP now owns 5,726,583 shares of the company’s stock worth $64,825,000 after purchasing an additional 185,190 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in shares of Pactiv Evergreen in the 3rd quarter valued at approximately $2,074,000. Institutional investors own 22.23% of the company’s stock.

Pactiv Evergreen Price Performance

PTVE opened at $17.28 on Tuesday. The stock has a market cap of $3.10 billion, a P/E ratio of -18.78, a P/E/G ratio of 1.70 and a beta of 1.35. Pactiv Evergreen has a 12 month low of $8.83 and a 12 month high of $17.61. The company has a quick ratio of 1.04, a current ratio of 1.93 and a debt-to-equity ratio of 3.26. The company has a fifty day simple moving average of $12.86 and a 200 day simple moving average of $12.00.

Pactiv Evergreen (NASDAQ:PTVE) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.03. Pactiv Evergreen had a positive return on equity of 14.41% and a negative net margin of 3.16%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the prior year, the company earned $0.32 earnings per share. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. On average, research analysts expect that Pactiv Evergreen will post 1.03 EPS for the current year.

Pactiv Evergreen Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Monday, December 2nd. Pactiv Evergreen’s dividend payout ratio is presently -43.48%.

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.