Principal Financial Group Inc. Has $378,000 Stock Holdings in Pactiv Evergreen Inc. (NASDAQ:PTVE)

Principal Financial Group Inc. boosted its stake in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) by 8.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,614 shares of the company’s stock after purchasing an additional 1,684 shares during the period. Principal Financial Group Inc.’s holdings in Pactiv Evergreen were worth $378,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its position in Pactiv Evergreen by 111.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 145,240 shares of the company’s stock valued at $2,537,000 after purchasing an additional 76,440 shares during the last quarter. Victory Capital Management Inc. acquired a new position in Pactiv Evergreen during the third quarter valued at approximately $2,074,000. SG Americas Securities LLC acquired a new position in Pactiv Evergreen during the fourth quarter valued at approximately $270,000. JPMorgan Chase & Co. boosted its position in Pactiv Evergreen by 70.8% during the third quarter. JPMorgan Chase & Co. now owns 484,722 shares of the company’s stock valued at $5,579,000 after purchasing an additional 200,873 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new position in Pactiv Evergreen during the third quarter valued at approximately $215,000. 22.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PTVE. Jefferies Financial Group reaffirmed a “hold” rating and issued a $18.00 price objective (up 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 reaffirmed a “neutral” rating and issued a $18.00 price objective (up from $13.00) on shares of Pactiv Evergreen in a research report on Tuesday, December 10th. Finally, UBS Group lowered Pactiv Evergreen from a “buy” rating to a “neutral” rating and increased their target price for the stock 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.com, the company presently has an average rating of “Hold” and a consensus target price of $16.80.

Pactiv Evergreen Price Performance

Shares of NASDAQ PTVE opened at $17.87 on Friday. The firm has a market cap of $3.23 billion, a P/E ratio of -19.42, a price-to-earnings-growth ratio of 1.47 and a beta of 1.24. The company has a current ratio of 1.93, a quick ratio of 1.04 and a debt-to-equity ratio of 3.26. Pactiv Evergreen Inc. has a 1-year low of $8.83 and a 1-year high of $17.89. The business’s 50 day moving average is $17.70 and its 200-day moving average is $14.48.

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.