UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 21,078 Shares of Pactiv Evergreen Inc. (NASDAQ:PTVE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) by 21.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 78,450 shares of the company’s stock after selling 21,078 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Pactiv Evergreen were worth $903,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its stake in Pactiv Evergreen by 5.6% during the second quarter. The Manufacturers Life Insurance Company now owns 26,794 shares of the company’s stock worth $303,000 after purchasing an additional 1,431 shares during the period. Federated Hermes Inc. boosted its stake in Pactiv Evergreen by 69.2% in the 2nd quarter. Federated Hermes Inc. now owns 3,605 shares of the company’s stock valued at $41,000 after buying an additional 1,474 shares in the last quarter. Principal Financial Group Inc. grew its position in Pactiv Evergreen by 9.0% in the second quarter. Principal Financial Group Inc. now owns 20,856 shares of the company’s stock valued at $236,000 after acquiring an additional 1,726 shares during the period. Point72 DIFC Ltd boosted its stake in shares of Pactiv Evergreen by 33.2% in the 2nd quarter. Point72 DIFC Ltd now owns 7,876 shares of the company’s stock valued at $89,000 after purchasing an additional 1,965 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of Pactiv Evergreen by 186.8% in the 2nd quarter. CWM LLC now owns 3,396 shares of the company’s stock valued at $38,000 after purchasing an additional 2,212 shares in the last quarter. 22.23% of the stock is currently owned by institutional investors and hedge funds.

Pactiv Evergreen Trading Up 0.2 %

Shares of PTVE opened at $17.27 on Friday. The stock’s fifty day simple moving average is $13.32 and its 200-day simple moving average is $12.14. 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 firm has a market capitalization of $3.10 billion, a PE ratio of -18.77, a price-to-earnings-growth ratio of 1.70 and a beta of 1.35. Pactiv Evergreen Inc. has a 12-month low of $8.83 and a 12-month high of $17.61.

Pactiv Evergreen (NASDAQ:PTVE) last issued its earnings results on Tuesday, November 12th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.37 billion. Pactiv Evergreen had a negative net margin of 3.16% and a positive return on equity of 14.41%. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 EPS. As a group, research analysts predict that Pactiv Evergreen Inc. will post 1.03 earnings per share for the current year.

Pactiv Evergreen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were issued a $0.10 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 2.32%. Pactiv Evergreen’s dividend payout ratio is presently -43.48%.

Analyst Upgrades and Downgrades

PTVE has been the topic of a number of recent analyst reports. Jefferies Financial Group restated a “hold” rating and issued a $18.00 price target (up from $15.00) on shares of Pactiv Evergreen in a research report on Wednesday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $18.00 price target (up from $14.00) on shares of Pactiv Evergreen in a report on Thursday. Finally, Citigroup restated a “neutral” rating and set a $18.00 target price (up previously from $13.00) on shares of Pactiv Evergreen in a report on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Pactiv Evergreen presently has an average rating of “Hold” and an average target price of $15.86.

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.