Edgestream Partners L.P. Has $3.65 Million Holdings in Pactiv Evergreen Inc. (NASDAQ:PTVE)

Edgestream Partners L.P. increased its holdings in Pactiv Evergreen Inc. (NASDAQ:PTVE) by 182.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 322,743 shares of the company’s stock after acquiring an additional 208,409 shares during the period. Edgestream Partners L.P.’s holdings in Pactiv Evergreen were worth $3,653,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Rubric Capital Management LP raised its holdings in shares of Pactiv Evergreen by 0.8% in the 4th quarter. Rubric Capital Management LP now owns 5,039,766 shares of the company’s stock worth $69,095,000 after acquiring an additional 39,766 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Pactiv Evergreen by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 3,788,918 shares of the company’s stock worth $54,257,000 after acquiring an additional 143,776 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Pactiv Evergreen by 11.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,375,514 shares of the company’s stock worth $26,890,000 after acquiring an additional 243,098 shares during the last quarter. Bridgeway Capital Management LLC raised its holdings in shares of Pactiv Evergreen by 3.5% in the 1st quarter. Bridgeway Capital Management LLC now owns 1,298,224 shares of the company’s stock worth $18,591,000 after acquiring an additional 44,374 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Pactiv Evergreen by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 988,128 shares of the company’s stock worth $13,547,000 after acquiring an additional 24,018 shares during the last quarter. Institutional investors and hedge funds own 22.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Citigroup decreased their price objective on shares of Pactiv Evergreen from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Monday, July 8th. UBS Group decreased their price objective on shares of Pactiv Evergreen from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Robert W. Baird decreased their price objective on shares of Pactiv Evergreen from $15.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Royal Bank of Canada decreased their price objective on shares of Pactiv Evergreen from $15.00 to $13.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Pactiv Evergreen presently has an average rating of “Moderate Buy” and an average target price of $14.57.

Pactiv Evergreen Stock Up 1.3 %

Pactiv Evergreen stock opened at $11.44 on Wednesday. Pactiv Evergreen Inc. has a twelve month low of $7.58 and a twelve month high of $15.84. The firm has a 50 day moving average price of $11.43 and a 200-day moving average price of $12.57. The company has a market capitalization of $2.05 billion, a P/E ratio of -24.76, a P/E/G ratio of 1.13 and a beta of 1.31. The company has a quick ratio of 0.93, a current ratio of 2.04 and a debt-to-equity ratio of 2.72.

Pactiv Evergreen (NASDAQ:PTVE) last released its earnings results on Wednesday, July 31st. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). Pactiv Evergreen had a net margin of 1.49% and a return on equity of 13.34%. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the company earned $0.20 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. As a group, equities analysts predict that Pactiv Evergreen Inc. will post 0.98 EPS for the current year.

Pactiv Evergreen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.50%. The ex-dividend date was Friday, August 30th. Pactiv Evergreen’s dividend payout ratio (DPR) is presently -86.96%.

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.