Pactiv Evergreen Inc. (NASDAQ:PTVE) Shares Sold by Truvestments Capital LLC

Truvestments Capital LLC trimmed its stake in Pactiv Evergreen Inc. (NASDAQ:PTVE) by 10.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,913 shares of the company’s stock after selling 1,511 shares during the quarter. Truvestments Capital LLC’s holdings in Pactiv Evergreen were worth $226,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. AlphaQuest LLC grew its holdings in shares of Pactiv Evergreen by 10,155.9% in the 4th quarter. AlphaQuest LLC now owns 3,487 shares of the company’s stock worth $61,000 after acquiring an additional 3,453 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Pactiv Evergreen by 1,590.7% in the fourth quarter. Blue Trust Inc. now owns 7,963 shares of the company’s stock worth $139,000 after buying an additional 7,492 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Pactiv Evergreen in the third quarter worth $132,000. SG Americas Securities LLC acquired a new stake in shares of Pactiv Evergreen in the fourth quarter worth $270,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Pactiv Evergreen in the third quarter worth $178,000. 22.23% of the stock is currently owned by institutional investors and hedge funds.

Pactiv Evergreen Stock Performance

Shares of NASDAQ PTVE opened at $17.88 on Thursday. The business’s 50-day moving average price is $17.73 and its two-hundred day moving average price is $14.69. The company has a debt-to-equity ratio of 3.26, a current ratio of 1.93 and a quick ratio of 1.04. Pactiv Evergreen Inc. has a one year low of $8.83 and a one year high of $17.89. The company has a market capitalization of $3.23 billion, a P/E ratio of -19.43, a price-to-earnings-growth ratio of 1.47 and a beta of 1.24.

Analyst Ratings Changes

PTVE has been the subject of several recent analyst reports. Citigroup reaffirmed a “neutral” rating and issued a $18.00 target price (up previously from $13.00) on shares of Pactiv Evergreen in a research report on Tuesday, December 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $18.00 target price (up previously from $14.00) on shares of Pactiv Evergreen in a research report on Thursday, December 19th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $18.00 target price (up previously from $15.00) on shares of Pactiv Evergreen in a research report on Wednesday, December 18th. Finally, UBS Group cut Pactiv Evergreen from a “buy” rating to a “neutral” rating and raised their target price for the stock from $16.00 to $18.00 in a research report on Friday, January 10th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Pactiv Evergreen currently has a consensus rating of “Hold” and an average target price of $16.80.

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.