Pactiv Evergreen Inc. (NASDAQ:PTVE – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the five brokerages that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $10.67.
Several research analysts have recently weighed in on PTVE shares. Royal Bank of Canada lifted their target price on shares of Pactiv Evergreen from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Citigroup lifted their price objective on shares of Pactiv Evergreen from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Thursday, August 10th. Finally, Bank of America reduced their target price on Pactiv Evergreen from $11.00 to $9.00 in a report on Monday, July 10th.
Get Our Latest Report on Pactiv Evergreen
Pactiv Evergreen Trading Up 0.7 %
Pactiv Evergreen (NASDAQ:PTVE – Get Free Report) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.01). The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.53 billion. Pactiv Evergreen had a positive return on equity of 8.64% and a negative net margin of 1.19%. On average, research analysts anticipate that Pactiv Evergreen will post 0.5 EPS for the current fiscal year.
Pactiv Evergreen Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.40 annualized dividend and a dividend yield of 5.32%. Pactiv Evergreen’s dividend payout ratio is -97.56%.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of PTVE. Alliancebernstein L.P. grew its stake in shares of Pactiv Evergreen by 47.5% in the 2nd quarter. Alliancebernstein L.P. now owns 45,646 shares of the company’s stock valued at $346,000 after buying an additional 14,710 shares in the last quarter. Wells Fargo & Company MN increased its position in Pactiv Evergreen by 45.0% during the second quarter. Wells Fargo & Company MN now owns 24,600 shares of the company’s stock worth $186,000 after buying an additional 7,633 shares during the last quarter. XTX Topco Ltd bought a new position in Pactiv Evergreen during the second quarter valued at about $187,000. Goldman Sachs Group Inc. lifted its position in shares of Pactiv Evergreen by 9.9% in the second quarter. Goldman Sachs Group Inc. now owns 123,260 shares of the company’s stock worth $933,000 after buying an additional 11,098 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Pactiv Evergreen during the 2nd quarter worth about $190,000. 22.13% of the stock is owned by institutional investors and hedge funds.
About Pactiv Evergreen
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, tableware, service ware, and other products.
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