In yesterday’s Wall Street session, Pactiv Evergreen Inc. (NASDAQ:PTVE) shares traded at $9.83, down -13.62% from the previous session.
6 analysts cover Pactiv Evergreen Inc. (NASDAQ:PTVE), according to research data. The consensus rating among analysts is ‘Overweight’. PTVE stock price is now -12.12% away from the 50-day moving average and -7.83% away from the 200-day moving average. The market capitalization of the company currently stands at $1.70B.
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The stock has received a hold rating from 3 analysts and a buy rating from 3.
With the price target reduced from $12 to $10, Citigroup Downgraded its rating from Buy to Neutral for Pactiv Evergreen Inc. (NASDAQ: PTVE). On May 06, 2022, RBC Capital Mkts Upgraded its previous ‘Sector Perform’ rating to ‘Outperform’ on the stock increasing its target price from $9 to quote $13, while ‘BofA Securities’ rates the stock as ‘Neutral’.
In other news, Stangl Rolf, Director bought 5,000 shares of the company’s stock on Jun 16. The stock was bought for $46,894 at an average price of $9.38. Upon completion of the transaction, the Director now directly owns 62,956 shares in the company, valued at $0.62 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 16, Director Hugli Allen bought 2,900 shares of the business’s stock. A total of $27,527 was incurred on buying the stock at an average price of $9.49. This leaves the insider owning 41,659 shares of the company worth $0.41 million. Insiders disposed of 41,766 shares of company stock worth roughly $0.41 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PTVE stock. A new stake in Pactiv Evergreen Inc. shares was purchased by MEDINA VALUE PARTNERS, LLC during the first quarter worth $9,989,000. HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND invested $8,731,000 in shares of PTVE during the first quarter. In the first quarter, NORGES BANK acquired a new stake in Pactiv Evergreen Inc. valued at approximately $4,286,000. PANAGORA ASSET MANAGEMENT INC acquired a new stake in PTVE for approximately $431,000. CAPULA MANAGEMENT LTD purchased a new stake in PTVE valued at around $329,000 in the second quarter. In total, there are 185 active investors with 22.30% ownership of the company’s stock.
On Tuesday morning Pactiv Evergreen Inc. (NASDAQ: PTVE) stock kicked off with the opening price of $11.04. During the past 12 months, Pactiv Evergreen Inc. has had a low of $8.31 and a high of $12.46. As of last week, the company has a debt-to-equity ratio of 2.90, a current ratio of 2.40, and a quick ratio of 1.30. The fifty day moving average price for PTVE is $11.19 and a two-hundred day moving average price translates $10.66 for the stock.
The latest earnings results from Pactiv Evergreen Inc. (NASDAQ: PTVE) was released for Sep, 2022. According to the Packaging & Containers Company, earnings per share came in at $0.98, beating analysts’ expectations of $0.14 by 0.84. This compares to -$0.01 EPS in the same period last year. The net profit margin was 5.20% and return on equity was 24.70% for PTVE. The company reported revenue of $1.61 billion for the quarter, compared to $1.39 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 15.42 percent. For the current quarter, analysts expect PTVE to generate $1.51B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/15/2022. Investors who held shares on 11/30/2022 were paid a $0.10 dividend. On an annualized basis, this represents a $0.40 dividend and a 4.07% percent yield. There was an ex-dividend date of 11/29/2022 for this dividend. In terms of dividend payout ratio, PTVE is presently at 22.00%.
Pactiv Evergreen Inc.(PTVE) Company Profile
Pactiv Evergreen Inc. manufactures and distributes fresh foodservice and food merchandising products, and fresh beverage cartons in North America. It operates through three segments: Foodservice, Food Merchandising, and Beverage Merchandising. The Foodservice segment offers food containers, hot and cold cups, lids, dinnerware, tableware, service ware, and other products. The Food Merchandising segment provides clear rigid-display containers, containers for prepared and ready-to-eat food, trays for meat and poultry, and molded fiber cartons. The Beverage Merchandising segment offers cartons for fresh refrigerated beverage products. This segment also provides integrated fresh carton systems, which include printed cartons with high-impact graphics, spouts, and filling machines, as well as fiber-based liquid packaging board and range of paper-based products. The company serves full-service restaurants, quick service restaurants, foodservice distributors, supermarkets, grocery and healthy eating retailers, other food stores, food and beverage producers, and food packers and food processors. The company was formerly known as Reynolds Group Holdings Limited. Pactiv Evergreen Inc. was founded in 1880 and is headquartered in Lake Forest, Illinois. Pactiv Evergreen Inc. is a subsidiary of Packaging Finance Limited.
