Point72 DIFC Ltd Has $89,000 Stock Position in Pactiv Evergreen Inc. (NASDAQ:PTVE)

Point72 DIFC Ltd increased its stake in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) by 33.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,876 shares of the company’s stock after purchasing an additional 1,965 shares during the period. Point72 DIFC Ltd’s holdings in Pactiv Evergreen were worth $89,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. TFO Wealth Partners LLC boosted its position in shares of Pactiv Evergreen by 111,150.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,225 shares of the company’s stock worth $31,000 after purchasing an additional 2,223 shares in the last quarter. CWM LLC grew its stake in Pactiv Evergreen by 186.8% in the second quarter. CWM LLC now owns 3,396 shares of the company’s stock valued at $38,000 after acquiring an additional 2,212 shares during the period. Federated Hermes Inc. increased its holdings in shares of Pactiv Evergreen by 69.2% in the second quarter. Federated Hermes Inc. now owns 3,605 shares of the company’s stock worth $41,000 after acquiring an additional 1,474 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Pactiv Evergreen during the second quarter worth about $83,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Pactiv Evergreen by 164.5% during the 1st quarter. Public Employees Retirement System of Ohio now owns 7,302 shares of the company’s stock valued at $105,000 after purchasing an additional 4,541 shares in the last quarter. Institutional investors own 22.23% of the company’s stock.

Pactiv Evergreen Stock Down 2.8 %

Pactiv Evergreen stock opened at $11.23 on Thursday. The company has a current ratio of 2.04, a quick ratio of 0.93 and a debt-to-equity ratio of 2.72. Pactiv Evergreen Inc. has a 1-year low of $7.58 and a 1-year high of $15.84. The company has a fifty day simple moving average of $11.29 and a 200 day simple moving average of $12.45. The company has a market cap of $2.01 billion, a P/E ratio of -24.41, a price-to-earnings-growth ratio of 1.20 and a beta of 1.30.

Pactiv Evergreen (NASDAQ:PTVE) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.06). Pactiv Evergreen had a net margin of 1.49% and a return on equity of 13.34%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the business earned $0.20 EPS. Pactiv Evergreen’s revenue was up 6.9% on a year-over-year basis. Research analysts anticipate that Pactiv Evergreen Inc. will post 0.98 earnings per share for the current fiscal year.

Pactiv Evergreen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date was Friday, August 30th. Pactiv Evergreen’s dividend payout ratio is currently -86.96%.

Analysts Set New Price Targets

PTVE has been the subject of a number of research reports. Royal Bank of Canada lowered their target price on Pactiv Evergreen from $15.00 to $13.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Citigroup lowered their price objective on shares of Pactiv Evergreen from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Robert W. Baird cut their price objective on shares of Pactiv Evergreen from $15.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, UBS Group reduced their target price on shares of Pactiv Evergreen from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.57.

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.