Versor Investments LP Invests $4.71 Million in Pactiv Evergreen Inc. (NASDAQ:PTVE)

Versor Investments LP bought a new stake in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 269,548 shares of the company’s stock, valued at approximately $4,709,000. Pactiv Evergreen accounts for approximately 0.8% of Versor Investments LP’s investment portfolio, making the stock its 11th biggest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in shares of 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 acquiring an additional 7,492 shares during the period. Intech Investment Management LLC acquired a new position in Pactiv Evergreen during the 3rd quarter valued at $132,000. SG Americas Securities LLC bought a new stake in Pactiv Evergreen in the 4th quarter valued at $270,000. Paloma Partners Management Co acquired a new stake in Pactiv Evergreen in the 3rd quarter worth $178,000. Finally, Verition Fund Management LLC bought a new position in shares of Pactiv Evergreen during the 3rd quarter worth about $215,000. Institutional investors and hedge funds own 22.23% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group reiterated a “hold” rating and issued a $18.00 target price (up previously from $15.00) on shares of Pactiv Evergreen in a research note on Wednesday, December 18th. Royal Bank of Canada reiterated a “sector perform” rating and set a $18.00 price target (up previously from $14.00) on shares of Pactiv Evergreen in a research note on Thursday, December 19th. Citigroup restated a “neutral” rating and issued a $18.00 price objective (up previously from $13.00) on shares of Pactiv Evergreen in a research note on Tuesday, December 10th. Finally, UBS Group downgraded shares of Pactiv Evergreen from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $16.00 to $18.00 in a report on Friday, January 10th. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Pactiv Evergreen currently has a consensus rating of “Hold” and an average target price of $16.33.

Pactiv Evergreen Stock Performance

Pactiv Evergreen stock opened at $17.83 on Thursday. The firm has a market capitalization of $3.20 billion, a P/E ratio of -19.38, a P/E/G ratio of 1.47 and a beta of 1.24. The stock has a fifty day moving average price of $17.64 and a two-hundred day moving average price of $14.19. Pactiv Evergreen Inc. has a 52-week low of $8.83 and a 52-week high of $17.86. The company has a debt-to-equity ratio of 3.26, a current ratio of 1.93 and a quick ratio of 1.04.

About Pactiv Evergreen

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.