Pactiv Evergreen Inc. (NASDAQ:PTVE – Get Free Report) announced a quarterly dividend on Tuesday, November 12th,Zacks Dividends reports. Shareholders of record on Monday, December 2nd will be paid a dividend of 0.10 per share on Friday, December 13th. This represents a $0.40 annualized dividend and a yield of 3.29%. The ex-dividend date is Monday, December 2nd.
Pactiv Evergreen has a dividend payout ratio of 31.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Pactiv Evergreen to earn $1.22 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 32.8%.
Pactiv Evergreen Trading Up 5.5 %
PTVE stock traded up $0.63 during midday trading on Wednesday, hitting $12.16. The company’s stock had a trading volume of 231,355 shares, compared to its average volume of 380,958. The company has a quick ratio of 0.93, a current ratio of 2.04 and a debt-to-equity ratio of 2.72. Pactiv Evergreen has a twelve month low of $8.83 and a twelve month high of $15.84. The company’s fifty day moving average price is $11.58 and its 200 day moving average price is $11.88.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on PTVE. UBS Group lowered their price objective on shares of Pactiv Evergreen from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada lowered their price objective on shares of 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 lowered their price objective on shares of Pactiv Evergreen from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.57.
Get Our Latest Report on Pactiv Evergreen
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.
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