Shares of Pactiv Evergreen Inc. (NASDAQ: PTVE) have been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages presently covering the firm, Bloomberg reports. In addition, one equities research analyst has rated the stock with a hold recommendation, and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages covering the last year’s stock is $13.00.
Several equities research analysts have recently issued reports on PTVE shares. Robert W. Baird upped their price target on Pactiv Evergreen to $11.00 in a research report on Tuesday, August 9th. In addition, Citigroup raised its target price on Pactiv Evergreen to $12.00 in a research report on Monday, August 15th.
In other Pactiv Evergreen news, Director Rolf Stangl bought 5,000 shares of the company’s stock in a transaction on Thursday, June 16th. The stock was bought at an average price of $9.38 per share for a total transaction of $46,900.00. Following the transaction, the director now owns 62,956 shares of the company’s stock, valued at approximately $590,527.28. The purchase was disclosed in a document filed with the SEC, accessed through the SEC website. In other Pactiv Evergreen news, Director Rolf Stangl bought 5,000 shares of the firm’s stock in a transaction on Thursday, June 16th. The stock was purchased at an average cost of $9.38 per share, with a total value of $46,900.00. Following the completion of the purchase, the director now owns 62,956 shares in the company, valued at $590,527.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Allen Hugli bought 5,100 shares in a transaction on Tuesday, June 14th. The shares were purchased at an average price of $9.68 per share, with a total value of $49,368.00. Following the acquisition, the director now owns 38,600 shares in the company, valued at approximately $373,648. The disclosure for this purchase can be found here. Corporate insiders own 0.22% of the stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Montag A & Associates Inc. bought a new stake in Pactiv Evergreen during the second quarter, valued at $30,000. Quantbot Technologies LP purchased a new position in shares of Pactiv Evergreen in the first quarter worth about $30,000. Amalgamated Bank purchased a new stake in shares of Pactiv Evergreen in the first quarter worth $52,000. CI Investments Inc. increased its stake in Pactiv Evergreen by 240.0% in the 1st quarter. CI Investments Inc. now owns 8,500 shares of the company’s stock worth $86,000 after acquiring an additional 6,000 shares during the last quarter. Finally, Atria Wealth Solutions Inc. purchased a new stake in Pactiv Evergreen in the second quarter, valued at approximately $104,000. Institutional investors and hedge funds own 22.04% of the company’s stock.
Shares of PTVE stock opened at $11.10 on Monday. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 13.70, and a beta of 1.26. Pactiv Evergreen has a one-year low of $8.71 and a one-year high of $15.53. The business has a fifty-day moving average of $10.64 and a 200-day moving average of $10.20. The company has a debt-to-equity ratio of 3.47, a current ratio of 2.20, and a quick ratio of 1.09.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. On Wednesday, August 31st, stockholders will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Tuesday, August 30th. Pactiv Evergreen’s dividend payout ratio is 49.38%.