A&I Financial Services LLC Takes Position in Pactiv Evergreen Inc. (NASDAQ:PTVE)

A&I Financial Services LLC bought a new position in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 42,613 shares of the company’s stock, valued at approximately $744,000. Pactiv Evergreen comprises approximately 0.7% of A&I Financial Services LLC’s investment portfolio, making the stock its 23rd largest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PTVE. Blue Trust Inc. grew its stake in shares of 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 purchasing an additional 7,492 shares during the period. Intech Investment Management LLC purchased a new stake in Pactiv Evergreen during the third quarter worth $132,000. SG Americas Securities LLC acquired a new stake in Pactiv Evergreen during the fourth quarter valued at $270,000. Paloma Partners Management Co purchased a new position in Pactiv Evergreen in the third quarter valued at $178,000. Finally, Verition Fund Management LLC acquired a new position in shares of Pactiv Evergreen in the third quarter worth about $215,000. 22.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PTVE has been the topic of a number of analyst reports. UBS Group cut 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 report on Friday, January 10th. Jefferies Financial Group restated a “hold” rating and issued a $18.00 price objective (up from $15.00) on shares of Pactiv Evergreen in a research report on Wednesday, December 18th. Citigroup reaffirmed a “neutral” rating and set a $18.00 target price (up from $13.00) on shares of Pactiv Evergreen in a research note on Tuesday, December 10th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $18.00 price target (up previously from $14.00) on shares of Pactiv Evergreen in a research note on Thursday, December 19th. Six research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $16.33.

Pactiv Evergreen Price Performance

Shares of Pactiv Evergreen stock opened at $17.83 on Friday. 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 business has a 50 day simple moving average of $17.65 and a two-hundred day simple moving average of $14.22. The stock has a market capitalization of $3.20 billion, a P/E ratio of -19.38, a PEG ratio of 1.47 and a beta of 1.24. Pactiv Evergreen Inc. has a 12 month low of $8.83 and a 12 month high of $17.86.

Pactiv Evergreen Company 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.