Segall Bryant & Hamill LLC acquired a new stake in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 338,776 shares of the company's stock, valued at approximately $3,899,000. Segall Bryant & Hamill LLC owned about 0.19% of Pactiv Evergreen as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of PTVE. CWM LLC boosted its stake in Pactiv Evergreen by 186.8% in the second quarter. CWM LLC now owns 3,396 shares of the company's stock valued at $38,000 after acquiring an additional 2,212 shares during the period. Federated Hermes Inc. lifted its stake in Pactiv Evergreen by 69.2% in the second quarter. Federated Hermes Inc. now owns 3,605 shares of the company's stock valued at $41,000 after buying an additional 1,474 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Pactiv Evergreen during the second quarter worth about $83,000. Point72 DIFC Ltd grew its position in shares of Pactiv Evergreen by 33.2% during the second quarter. Point72 DIFC Ltd now owns 7,876 shares of the company's stock worth $89,000 after acquiring an additional 1,965 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in Pactiv Evergreen by 164.5% in the 1st quarter. Public Employees Retirement System of Ohio now owns 7,302 shares of the company's stock valued at $105,000 after purchasing an additional 4,541 shares during the last quarter. Institutional investors and hedge funds own 22.23% of the company's stock.
PTVE stock opened at $13.20 on Friday. The firm has a market cap of $2.37 billion, a PE ratio of -14.35, a P/E/G ratio of 1.23 and a beta of 1.30. Pactiv Evergreen Inc. has a 12 month low of $8.83 and a 12 month high of $15.84. The company has a debt-to-equity ratio of 3.26, a current ratio of 1.93 and a quick ratio of 1.04. The firm has a 50 day simple moving average of $11.82 and a 200 day simple moving average of $11.80.
Pactiv Evergreen (NASDAQ:PTVE - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. Pactiv Evergreen had a positive return on equity of 14.41% and a negative net margin of 3.16%. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the company posted $0.32 EPS. The company's revenue was down 3.3% compared to the same quarter last year. Equities research analysts forecast that Pactiv Evergreen Inc. will post 1.03 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend is Monday, December 2nd. Pactiv Evergreen's payout ratio is -43.48%.
PTVE has been the subject of several recent analyst reports. Royal Bank of Canada decreased their target price on shares of Pactiv Evergreen from $15.00 to $13.00 and set an "outperform" rating for the company in a research report on Wednesday, August 7th. Robert W. Baird cut their target price on Pactiv Evergreen from $15.00 to $12.00 and set a "neutral" rating on the stock in a research note on Friday, August 2nd. Finally, UBS Group lowered their price target on Pactiv Evergreen from $16.00 to $15.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $14.57.
Read Our Latest Report on 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.
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