Truvestments Capital LLC Invests $186,000 in Pactiv Evergreen Inc. (NASDAQ:PTVE)

Truvestments Capital LLC acquired a new stake in Pactiv Evergreen Inc. (NASDAQ:PTVE) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 12,995 shares of the company’s stock, valued at approximately $186,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PTVE. ICA Group Wealth Management LLC acquired a new position in shares of Pactiv Evergreen during the 4th quarter worth $27,000. TFO Wealth Partners LLC raised its position 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 worth $31,000 after acquiring an additional 2,223 shares during the last quarter. Federated Hermes Inc. raised its position in Pactiv Evergreen by 109.7% during the fourth quarter. Federated Hermes Inc. now owns 3,476 shares of the company’s stock worth $48,000 after acquiring an additional 1,818 shares during the last quarter. Spire Wealth Management purchased a new stake in shares of Pactiv Evergreen in the fourth quarter valued at about $175,000. Finally, Cerity Partners LLC acquired a new stake in shares of Pactiv Evergreen in the fourth quarter valued at approximately $178,000. 22.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PTVE shares. Citigroup cut their price objective on Pactiv Evergreen from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Monday, July 8th. UBS Group cut their price target on Pactiv Evergreen from $19.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $15.86.

Pactiv Evergreen Trading Up 2.8 %

Shares of NASDAQ:PTVE traded up $0.36 during midday trading on Friday, reaching $13.11. The company’s stock had a trading volume of 224,581 shares, compared to its average volume of 306,133. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of -28.50, a price-to-earnings-growth ratio of 0.86 and a beta of 1.32. The business has a 50 day moving average price of $12.02 and a 200 day moving average price of $13.47. Pactiv Evergreen Inc. has a 1 year low of $7.41 and a 1 year high of $15.84. The company has a quick ratio of 0.87, a current ratio of 2.02 and a debt-to-equity ratio of 2.69.

Pactiv Evergreen (NASDAQ:PTVE) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.29 billion. Pactiv Evergreen had a positive return on equity of 13.79% and a negative net margin of 1.50%. The firm’s quarterly revenue was down 12.5% on a year-over-year basis. During the same period last year, the company earned $0.13 EPS. Research analysts forecast that Pactiv Evergreen Inc. will post 1.18 EPS for the current year.

Pactiv Evergreen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend was Friday, May 31st. Pactiv Evergreen’s dividend payout ratio (DPR) is currently -86.96%.

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.