SG Americas Securities LLC purchased a new position in Pactiv Evergreen Inc. (NASDAQ:PTVE – Get Rating) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 21,206 shares of the company's stock, valued at approximately $211,000.
A number of other large investors have also recently made changes to their positions in PTVE. Victory Capital Management Inc. bought a new position in shares of Pactiv Evergreen in the first quarter worth $3,165,000. First Trust Advisors LP boosted its holdings in shares of Pactiv Evergreen by 532.5% in the first quarter. First Trust Advisors LP now owns 321,888 shares of the company's stock worth $3,238,000 after acquiring an additional 270,993 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Pactiv Evergreen by 1,000.2% in the first quarter. Goldman Sachs Group Inc. now owns 205,023 shares of the company's stock worth $2,062,000 after acquiring an additional 186,388 shares during the period. Frontier Capital Management Co. LLC boosted its holdings in shares of Pactiv Evergreen by 7.6% in the second quarter. Frontier Capital Management Co. LLC now owns 2,368,468 shares of the company's stock worth $23,590,000 after acquiring an additional 166,677 shares during the period. Finally, Clearline Capital LP bought a new stake in Pactiv Evergreen during the first quarter valued at $1,635,000. 22.04% of the stock is owned by institutional investors.
Get Pactiv Evergreen alerts:Analysts Set New Price Targets
Several equities research analysts recently issued reports on the company. Royal Bank of Canada lifted their price objective on Pactiv Evergreen from $13.00 to $15.00 and gave the company an "outperform" rating in a research note on Wednesday. The Goldman Sachs Group dropped their price objective on Pactiv Evergreen from $12.00 to $10.50 and set a "neutral" rating for the company in a research note on Tuesday, October 18th. Bank of America dropped their price objective on Pactiv Evergreen from $12.00 to $10.00 in a research note on Thursday, October 13th. Robert W. Baird lifted their price objective on Pactiv Evergreen to $11.00 in a research note on Tuesday, August 9th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Pactiv Evergreen from $14.00 to $13.00 and set a "buy" rating for the company in a research note on Monday, October 24th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Pactiv Evergreen presently has an average rating of "Hold" and a consensus target price of $12.36.
Pactiv Evergreen Trading Up 3.6 %
NASDAQ PTVE opened at $11.60 on Friday. The stock's 50-day simple moving average is $10.02 and its two-hundred day simple moving average is $10.21. Pactiv Evergreen Inc. has a twelve month low of $8.31 and a twelve month high of $14.86. The company has a quick ratio of 1.09, a current ratio of 2.20 and a debt-to-equity ratio of 3.47. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 6.48 and a beta of 1.54.Pactiv Evergreen Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 3.45%. Pactiv Evergreen's payout ratio is 22.35%.
Pactiv Evergreen Profile
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Pactiv Evergreen Inc manufactures and distributes fresh foodservice and food merchandising products, and fresh beverage cartons in North America. It operates through three segments: Foodservice, Food Merchandising, and Beverage Merchandising. The Foodservice segment offers food containers, hot and cold cups, lids, dinnerware, tableware, service ware, and other products.
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