Pactiv Evergreen Inc. (NASDAQ:PTVE) Stock Position Decreased by Jane Street Group LLC

Jane Street Group LLC cut its stake in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) by 43.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,678 shares of the company’s stock after selling 15,984 shares during the quarter. Jane Street Group LLC’s holdings in Pactiv Evergreen were worth $238,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Victory Capital Management Inc. bought a new stake in shares of Pactiv Evergreen during the 3rd quarter worth $2,074,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Pactiv Evergreen by 183.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 81,543 shares of the company’s stock worth $939,000 after acquiring an additional 52,775 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Pactiv Evergreen by 25.9% during the 2nd quarter. Renaissance Technologies LLC now owns 590,600 shares of the company’s stock worth $6,686,000 after acquiring an additional 121,400 shares in the last quarter. Verition Fund Management LLC purchased a new stake in shares of Pactiv Evergreen in the third quarter valued at $215,000. Finally, Edgestream Partners L.P. lifted its holdings in shares of Pactiv Evergreen by 182.3% in the second quarter. Edgestream Partners L.P. now owns 322,743 shares of the company’s stock valued at $3,653,000 after purchasing an additional 208,409 shares in the last quarter. 22.23% of the stock is owned by institutional investors.

Pactiv Evergreen Price Performance

Shares of NASDAQ:PTVE opened at $17.53 on Friday. 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 $17.65. The business has a fifty day simple moving average of $15.15 and a 200 day simple moving average of $12.79. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of -19.05, a P/E/G ratio of 1.70 and a beta of 1.24.

Pactiv Evergreen (NASDAQ:PTVE) last announced its quarterly earnings data 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 business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the company earned $0.32 earnings per share. Pactiv Evergreen’s quarterly revenue was down 3.3% compared to the same quarter last year. As a group, sell-side analysts predict that Pactiv Evergreen Inc. will post 1.03 earnings per share for the current fiscal year.

Pactiv Evergreen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.40 annualized dividend and a dividend yield of 2.28%. Pactiv Evergreen’s dividend payout ratio is -43.48%.

Analyst Ratings Changes

A number of analysts have recently issued reports on PTVE shares. Royal Bank of Canada restated a “sector perform” rating and issued a $18.00 target price (up previously from $14.00) on shares of Pactiv Evergreen in a report on Thursday, December 19th. UBS Group lowered Pactiv Evergreen from a “buy” rating to a “neutral” rating and increased their target price for the company from $16.00 to $18.00 in a report on Friday. Citigroup restated a “neutral” rating and issued a $18.00 target price (up previously from $13.00) on shares of Pactiv Evergreen in a report on Tuesday, December 10th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $18.00 target price (up previously from $15.00) on shares of Pactiv Evergreen in a report on Wednesday, December 18th. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $16.33.

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.