Pactiv Evergreen (NASDAQ:PTVE) Sets New 12-Month High at $15.52

Pactiv Evergreen Inc. (NASDAQ:PTVE)’s share price hit a new 52-week high on Friday . The stock traded as high as $15.52 and last traded at $15.49, with a volume of 73644 shares trading hands. The stock had previously closed at $15.26.

Analyst Ratings Changes

A number of analysts recently weighed in on PTVE shares. Robert W. Baird upped their target price on shares of Pactiv Evergreen from $12.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. Bank of America raised Pactiv Evergreen from a “neutral” rating to a “buy” rating and increased their target price for the stock from $14.00 to $16.00 in a report on Tuesday, January 2nd. The Goldman Sachs Group boosted their price target on Pactiv Evergreen from $12.50 to $14.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. Royal Bank of Canada reissued an “outperform” rating and set a $18.00 price objective on shares of Pactiv Evergreen in a report on Monday, March 4th. Finally, Jefferies Financial Group initiated coverage on shares of Pactiv Evergreen in a report on Friday, January 19th. They issued a “buy” rating and a $18.00 target price on the stock. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

Pactiv Evergreen Trading Up 1.8 %

The company’s 50-day moving average is $14.20 and its 200-day moving average is $12.89. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.93 and a current ratio of 2.00. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of -12.33, a P/E/G ratio of 0.97 and a beta of 1.50.

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

Pactiv Evergreen Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.10 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.40 annualized dividend and a dividend yield of 2.58%. Pactiv Evergreen’s dividend payout ratio (DPR) is currently -31.75%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. ICA Group Wealth Management LLC bought a new stake in shares of Pactiv Evergreen during the 4th quarter valued at $27,000. TFO Wealth Partners LLC grew its holdings in Pactiv Evergreen by 111,150.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,225 shares of the company’s stock valued at $31,000 after purchasing an additional 2,223 shares during the period. Federated Hermes Inc. increased its stake in Pactiv Evergreen by 109.7% in the fourth quarter. Federated Hermes Inc. now owns 3,476 shares of the company’s stock valued at $48,000 after purchasing an additional 1,818 shares in the last quarter. Greenwich Wealth Management LLC acquired a new stake in Pactiv Evergreen in the third quarter worth $84,000. Finally, Cable Hill Partners LLC bought a new position in shares of Pactiv Evergreen during the third quarter worth $87,000. 22.23% of the stock is currently owned by institutional investors and hedge funds.

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.