Pactiv Evergreen Inc. (NASDAQ:PTVE) Shares Purchased by AlphaQuest LLC

AlphaQuest LLC raised its stake in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) by 10,155.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,487 shares of the company’s stock after purchasing an additional 3,453 shares during the quarter. AlphaQuest LLC’s holdings in Pactiv Evergreen were worth $61,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. grew its stake in Pactiv Evergreen by 1,590.7% during the fourth quarter. Blue Trust Inc. now owns 7,963 shares of the company’s stock worth $139,000 after buying an additional 7,492 shares during the period. Intech Investment Management LLC purchased a new stake in Pactiv Evergreen during the third quarter worth approximately $132,000. SG Americas Securities LLC purchased a new stake in Pactiv Evergreen during the fourth quarter worth approximately $270,000. Paloma Partners Management Co purchased a new stake in Pactiv Evergreen during the third quarter worth approximately $178,000. Finally, Verition Fund Management LLC purchased a new position in shares of Pactiv Evergreen in the third quarter valued at $215,000. 22.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Pactiv Evergreen Price Performance

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

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.