Charles Schwab Investment Management Inc. Raises Stock Holdings in Pactiv Evergreen Inc. (NASDAQ:PTVE)

Charles Schwab Investment Management Inc. raised its position in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) by 1.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 992,003 shares of the company’s stock after purchasing an additional 9,342 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Pactiv Evergreen were worth $17,330,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. A&I Financial Services LLC bought a new stake in shares of Pactiv Evergreen during the fourth quarter valued at approximately $744,000. Versor Investments LP bought a new stake in shares of Pactiv Evergreen during the 4th quarter valued at $4,709,000. Proficio Capital Partners LLC purchased a new stake in shares of Pactiv Evergreen during the fourth quarter worth about $424,000. Carlson Capital L.P. purchased a new position in Pactiv Evergreen during the fourth quarter valued at $926,000. Finally, Los Angeles Capital Management LLC increased its stake in Pactiv Evergreen by 45.5% in the 4th quarter. Los Angeles Capital Management LLC now owns 21,048 shares of the company’s stock worth $368,000 after acquiring an additional 6,580 shares during the last quarter. Institutional investors own 22.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PTVE. UBS Group lowered Pactiv Evergreen from a “buy” rating to a “neutral” rating and increased their price target for the company from $16.00 to $18.00 in a report on Friday, January 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $18.00 price target (up previously from $14.00) on shares of Pactiv Evergreen in a research report on Thursday, December 19th. Citigroup reissued a “neutral” rating and set a $18.00 price target (up from $13.00) on shares of Pactiv Evergreen in a research report on Tuesday, December 10th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $18.00 price target (up from $15.00) on shares of Pactiv Evergreen in a research note on Wednesday, December 18th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $16.80.

Pactiv Evergreen Price Performance

NASDAQ:PTVE opened at $17.91 on Friday. The company has a debt-to-equity ratio of 3.26, a current ratio of 1.93 and a quick ratio of 1.04. The company’s fifty day moving average price is $17.78 and its 200-day moving average price is $14.93. Pactiv Evergreen Inc. has a 1-year low of $8.83 and a 1-year high of $17.94. The firm has a market capitalization of $3.24 billion, a P/E ratio of -19.47, a PEG ratio of 1.47 and a beta of 1.24.

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.