Skandinaviska Enskilda Banken AB publ Acquires Shares of 80,000 Pactiv Evergreen Inc. (NASDAQ:PTVE)

Skandinaviska Enskilda Banken AB publ bought a new position in Pactiv Evergreen Inc. (NASDAQ:PTVE) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 80,000 shares of the company’s stock, valued at approximately $1,398,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Alpine Associates Management Inc. purchased a new position in Pactiv Evergreen in the 4th quarter worth approximately $14,325,000. Alberta Investment Management Corp bought a new stake in shares of Pactiv Evergreen in the 4th quarter worth $9,958,000. Segall Bryant & Hamill LLC purchased a new position in shares of Pactiv Evergreen in the third quarter worth $3,899,000. Versor Investments LP bought a new position in shares of Pactiv Evergreen during the fourth quarter valued at $4,709,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Pactiv Evergreen by 70.8% during the third quarter. JPMorgan Chase & Co. now owns 484,722 shares of the company’s stock valued at $5,579,000 after buying an additional 200,873 shares during the last quarter. Institutional investors own 22.23% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Pactiv Evergreen Price Performance

PTVE opened at $17.88 on Tuesday. Pactiv Evergreen Inc. has a 1-year low of $8.83 and a 1-year high of $17.90. The firm’s 50 day simple moving average is $17.75 and its two-hundred day simple moving average is $14.84. The company has a current ratio of 1.93, a quick ratio of 1.04 and a debt-to-equity ratio of 3.26. The company has a market capitalization of $3.23 billion, a PE ratio of -19.43, a PEG ratio of 1.47 and a beta of 1.24.

Pactiv Evergreen 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.