Pactiv Evergreen Inc. (NASDAQ:PTVE) Receives $15.83 Consensus Target Price from Analysts

Shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) have received a consensus rating of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $15.83.

A number of brokerages have weighed in on PTVE. Jefferies Financial Group reissued a “hold” rating and issued a $18.00 price target (up from $15.00) on shares of Pactiv Evergreen in a report on Wednesday, December 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $18.00 price objective (up previously from $14.00) on shares of Pactiv Evergreen in a research report on Thursday, December 19th. Finally, Citigroup reissued a “neutral” rating and set a $18.00 target price (up from $13.00) on shares of Pactiv Evergreen in a research report on Tuesday, December 10th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its stake in shares of Pactiv Evergreen by 5.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,794 shares of the company’s stock valued at $303,000 after purchasing an additional 1,431 shares during the period. Federated Hermes Inc. grew its position 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 acquiring an additional 1,474 shares during the period. Principal Financial Group Inc. raised its stake in Pactiv Evergreen by 9.0% during the second quarter. Principal Financial Group Inc. now owns 20,856 shares of the company’s stock worth $236,000 after acquiring an additional 1,726 shares in the last quarter. Point72 DIFC Ltd raised its stake in 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 in the last quarter. Finally, Mackenzie Financial Corp bought a new position in shares of Pactiv Evergreen during the second quarter valued at $114,000. Institutional investors and hedge funds own 22.23% of the company’s stock.

Pactiv Evergreen Price Performance

NASDAQ PTVE opened at $17.54 on Friday. The stock has a 50-day simple moving average of $14.90 and a 200 day simple moving average of $12.70. Pactiv Evergreen has a twelve month low of $8.83 and a twelve month high of $17.65. The stock has a market capitalization of $3.15 billion, a PE ratio of -19.07, a P/E/G ratio of 1.70 and a beta of 1.24. The company has a debt-to-equity ratio of 3.26, a quick ratio of 1.04 and a current ratio of 1.93.

Pactiv Evergreen (NASDAQ:PTVE) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.37 billion. Pactiv Evergreen had a positive return on equity of 14.41% and a negative net margin of 3.16%. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.32 earnings per share. Research analysts anticipate that Pactiv Evergreen will post 1.03 EPS for the current year.

Pactiv Evergreen Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.40 annualized dividend and a dividend yield of 2.28%. Pactiv Evergreen’s dividend payout ratio (DPR) is currently -43.48%.

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.