GSA Capital Partners LLP Has $136,000 Position in Pactiv Evergreen Inc. (NASDAQ:PTVE)

GSA Capital Partners LLP cut its position in Pactiv Evergreen Inc. (NASDAQ:PTVE) by 67.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,796 shares of the company’s stock after selling 24,611 shares during the quarter. GSA Capital Partners LLP’s holdings in Pactiv Evergreen were worth $136,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. CWM LLC increased its stake in shares of 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 buying an additional 2,212 shares during the period. Federated Hermes Inc. grew its holdings in Pactiv Evergreen by 69.2% during the 2nd quarter. Federated Hermes Inc. now owns 3,605 shares of the company’s stock worth $41,000 after acquiring an additional 1,474 shares during the last quarter. Innealta Capital LLC acquired a new position in Pactiv Evergreen in the 2nd quarter valued at approximately $83,000. Point72 DIFC Ltd raised its stake in shares of Pactiv Evergreen by 33.2% during the second quarter. Point72 DIFC Ltd now owns 7,876 shares of the company’s stock valued at $89,000 after acquiring an additional 1,965 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Pactiv Evergreen by 164.5% during the first quarter. Public Employees Retirement System of Ohio now owns 7,302 shares of the company’s stock worth $105,000 after purchasing an additional 4,541 shares during the period. 22.23% of the stock is owned by institutional investors and hedge funds.

Pactiv Evergreen Trading Up 2.9 %

NASDAQ PTVE opened at $13.58 on Tuesday. The stock has a market capitalization of $2.43 billion, a P/E ratio of -14.76, a P/E/G ratio of 1.30 and a beta of 1.30. The business has a 50 day simple moving average of $11.86 and a 200 day simple moving average of $11.78. The company has a debt-to-equity ratio of 3.26, a current ratio of 1.93 and a quick ratio of 1.04. Pactiv Evergreen Inc. has a one year low of $8.83 and a one year high of $15.84.

Pactiv Evergreen (NASDAQ:PTVE) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. Pactiv Evergreen had a negative net margin of 3.16% and a positive return on equity of 14.41%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the firm posted $0.32 EPS. The company’s quarterly revenue was down 3.3% on a year-over-year basis. Research analysts expect 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 will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.10 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.40 annualized dividend and a dividend yield of 2.95%. Pactiv Evergreen’s dividend payout ratio is currently -43.48%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. UBS Group lowered their target price on Pactiv Evergreen from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Royal Bank of Canada cut their price objective on Pactiv Evergreen from $15.00 to $13.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, Robert W. Baird decreased their target price on shares of Pactiv Evergreen from $15.00 to $12.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Pactiv Evergreen currently has an average rating of “Moderate Buy” and a consensus price target 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.