35,206 Shares in Pactiv Evergreen Inc. (NASDAQ:PTVE) Acquired by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. purchased a new position in Pactiv Evergreen Inc. (NASDAQ:PTVE) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 35,206 shares of the company’s stock, valued at approximately $483,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. American Century Companies Inc. increased its holdings in Pactiv Evergreen by 0.7% in the 3rd quarter. American Century Companies Inc. now owns 5,393,773 shares of the company’s stock worth $43,851,000 after buying an additional 38,104 shares during the period. Rubric Capital Management LP increased its holdings in Pactiv Evergreen by 3.8% in the 3rd quarter. Rubric Capital Management LP now owns 5,000,000 shares of the company’s stock worth $40,650,000 after buying an additional 184,217 shares during the period. Vanguard Group Inc. increased its holdings in Pactiv Evergreen by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 3,641,254 shares of the company’s stock worth $29,603,000 after buying an additional 39,663 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Pactiv Evergreen by 8.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 964,110 shares of the company’s stock worth $7,838,000 after purchasing an additional 77,129 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its position in Pactiv Evergreen by 8.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 548,081 shares of the company’s stock worth $4,456,000 after purchasing an additional 41,637 shares in the last quarter. Institutional investors and hedge funds own 22.23% of the company’s stock.

Pactiv Evergreen Price Performance

Shares of PTVE opened at $15.00 on Wednesday. Pactiv Evergreen Inc. has a 52-week low of $6.85 and a 52-week high of $15.51. The stock has a fifty day simple moving average of $14.16 and a two-hundred day simple moving average of $12.81. The company has a quick ratio of 0.93, a current ratio of 2.00 and a debt-to-equity ratio of 2.69.

Pactiv Evergreen (NASDAQ:PTVE) last issued its earnings results on Friday, March 1st. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.19. Pactiv Evergreen had a positive return on equity of 13.24% and a negative net margin of 4.05%. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the company earned $0.18 EPS. The company’s revenue for the quarter was down 13.7% on a year-over-year basis. Analysts predict that Pactiv Evergreen Inc. will post 1.13 EPS for the current year.

Pactiv Evergreen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.40 annualized dividend and a dividend yield of 2.67%. Pactiv Evergreen’s dividend payout ratio is currently -31.75%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. UBS Group assumed coverage on Pactiv Evergreen in a research report on Tuesday, January 16th. They issued a “buy” rating and a $19.00 price objective on the stock. The Goldman Sachs Group increased their price objective on Pactiv Evergreen from $12.50 to $14.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. Citigroup increased their price objective on Pactiv Evergreen from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Bank of America raised Pactiv Evergreen from a “neutral” rating to a “buy” rating and increased their price objective for the company from $14.00 to $16.00 in a research note on Tuesday, January 2nd. Finally, Jefferies Financial Group began coverage on Pactiv Evergreen in a research note on Friday, January 19th. They issued a “buy” rating and a $18.00 price objective for the company. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $16.00.

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.