Corebridge Financial Inc. Sells 1,520 Shares of Pactiv Evergreen Inc. (NASDAQ:PTVE)

Corebridge Financial Inc. lessened its position in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) by 7.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,123 shares of the company’s stock after selling 1,520 shares during the quarter. Corebridge Financial Inc.’s holdings in Pactiv Evergreen were worth $352,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. KLP Kapitalforvaltning AS acquired a new stake in Pactiv Evergreen in the 4th quarter worth approximately $180,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Pactiv Evergreen during the fourth quarter worth $1,048,000. Magnetar Financial LLC purchased a new stake in shares of Pactiv Evergreen during the fourth quarter valued at $53,645,000. Picton Mahoney Asset Management acquired a new position in shares of Pactiv Evergreen in the 4th quarter valued at $6,426,000. Finally, Skandinaviska Enskilda Banken AB publ purchased a new position in Pactiv Evergreen in the 4th quarter worth $1,398,000. Hedge funds and other institutional investors own 22.23% of the company’s stock.

Pactiv Evergreen Price Performance

Shares of PTVE opened at $18.01 on Thursday. Pactiv Evergreen Inc. has a 52-week low of $8.83 and a 52-week high of $18.03. The company has a quick ratio of 1.04, a current ratio of 1.93 and a debt-to-equity ratio of 3.26. The stock has a fifty day simple moving average of $17.88 and a two-hundred day simple moving average of $15.66. The company has a market capitalization of $3.25 billion, a PE ratio of -19.58, a price-to-earnings-growth ratio of 1.47 and a beta of 1.24.

Analyst Ratings Changes

PTVE has been the subject of a number of research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $18.00 target price (up previously from $14.00) on shares of Pactiv Evergreen in a report on Thursday, December 19th. UBS Group cut shares of Pactiv Evergreen from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $16.00 to $18.00 in a research note on Friday, January 10th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $18.00 price objective (up previously from $15.00) on shares of Pactiv Evergreen in a research note on Wednesday, December 18th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $16.80.

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.