Advisors Asset Management Inc. Has $2.14 Million Stake in Pactiv Evergreen Inc. (NASDAQ:PTVE)

Advisors Asset Management Inc. reduced its holdings in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) by 64.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 122,442 shares of the company’s stock after selling 223,124 shares during the quarter. Advisors Asset Management Inc.’s holdings in Pactiv Evergreen were worth $2,139,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. AlphaQuest LLC grew its holdings in Pactiv Evergreen by 10,155.9% during the 4th quarter. AlphaQuest LLC now owns 3,487 shares of the company’s stock worth $61,000 after acquiring an additional 3,453 shares during the period. Intech Investment Management LLC acquired a new stake in Pactiv Evergreen during the 3rd quarter worth about $132,000. Blue Trust Inc. grew its holdings in Pactiv Evergreen by 1,590.7% during the 4th quarter. Blue Trust Inc. now owns 7,963 shares of the company’s stock worth $139,000 after acquiring an additional 7,492 shares during the period. Paloma Partners Management Co acquired a new stake in Pactiv Evergreen during the 3rd quarter worth about $178,000. Finally, Verition Fund Management LLC acquired a new stake in Pactiv Evergreen during the 3rd quarter worth about $215,000. 22.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PTVE has been the subject of a number of recent analyst reports. Citigroup reiterated a “neutral” rating and set a $18.00 price target (up from $13.00) on shares of Pactiv Evergreen in a report on Tuesday, December 10th. Jefferies Financial Group restated a “hold” rating and issued a $18.00 target price (up from $15.00) on shares of Pactiv Evergreen in a research note on Wednesday, December 18th. UBS Group downgraded Pactiv Evergreen from a “buy” rating to a “neutral” rating and raised their target price for the company from $16.00 to $18.00 in a research note on Friday, January 10th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $18.00 target price (up from $14.00) on shares of Pactiv Evergreen in a research note on Thursday, December 19th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Pactiv Evergreen has an average rating of “Hold” and a consensus price target of $16.80.

Pactiv Evergreen Price Performance

Shares of NASDAQ PTVE opened at $17.93 on Friday. Pactiv Evergreen Inc. has a fifty-two week low of $8.83 and a fifty-two week high of $17.94. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of -19.49, a PEG ratio of 1.47 and a beta of 1.24. The company has a debt-to-equity ratio of 3.26, a quick ratio of 1.04 and a current ratio of 1.93. The firm’s 50-day simple moving average is $17.78 and its 200 day simple moving average is $14.99.

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.