Commonwealth of Pennsylvania Public School Empls Retrmt SYS Buys New Shares in Pactiv Evergreen Inc. (NASDAQ:PTVE)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) during the 4th quarter, Holdings Channel.com reports. The fund purchased 60,000 shares of the company’s stock, valued at approximately $1,048,000.

A number of other large investors have also recently added to or reduced their stakes in PTVE. AlphaQuest LLC increased its stake in shares of Pactiv Evergreen by 10,155.9% during the 4th quarter. AlphaQuest LLC now owns 3,487 shares of the company’s stock worth $61,000 after purchasing an additional 3,453 shares during the last quarter. Blue Trust Inc. raised its stake in Pactiv Evergreen by 1,590.7% in the fourth quarter. Blue Trust Inc. now owns 7,963 shares of the company’s stock valued at $139,000 after buying an additional 7,492 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Pactiv Evergreen in the third quarter valued at approximately $132,000. SG Americas Securities LLC bought a new position in shares of Pactiv Evergreen during the 4th quarter worth approximately $270,000. Finally, Paloma Partners Management Co acquired a new position in shares of Pactiv Evergreen during the 3rd quarter worth approximately $178,000. Institutional investors and hedge funds own 22.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Jefferies Financial Group reaffirmed a “hold” rating and set a $18.00 price objective (up from $15.00) on shares of Pactiv Evergreen in a research report on Wednesday, December 18th. UBS Group downgraded shares of Pactiv Evergreen from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $16.00 to $18.00 in a report on Friday, January 10th. Citigroup reissued a “neutral” rating and issued a $18.00 price target (up from $13.00) on shares of Pactiv Evergreen in a report on Tuesday, December 10th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $18.00 price objective (up previously from $14.00) on shares of Pactiv Evergreen in a report on Thursday, December 19th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $16.80.

Pactiv Evergreen Stock Performance

NASDAQ PTVE opened at $17.96 on Thursday. The firm has a 50-day moving average price of $17.81 and a two-hundred day moving average price of $15.13. Pactiv Evergreen Inc. has a 12-month low of $8.83 and a 12-month high of $17.98. The company has a market capitalization of $3.24 billion, a P/E ratio of -19.52, a P/E/G ratio of 1.47 and a beta of 1.24. The company has a quick ratio of 1.04, a current ratio of 1.93 and a debt-to-equity ratio of 3.26.

Pactiv Evergreen Company 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.