Pactiv Evergreen (NASDAQ:PTVE) Given New $15.00 Price Target at UBS Group

Pactiv Evergreen (NASDAQ:PTVE) had its target price cut by UBS Group from $16.00 to $15.00 in a report released on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also issued reports about the company. Royal Bank of Canada reduced their target price on Pactiv Evergreen from $15.00 to $13.00 and set an outperform rating for the company in a report on Wednesday. Robert W. Baird reduced their target price on Pactiv Evergreen from $15.00 to $12.00 and set a neutral rating for the company in a report on Friday, August 2nd. Finally, Citigroup reduced their target price on Pactiv Evergreen from $16.00 to $14.00 and set a buy rating for the company in a report on Monday, July 8th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $14.57.

Pactiv Evergreen Stock Down 3.5 %

PTVE traded down $0.35 during midday trading on Thursday, reaching $9.69. 238,764 shares of the company were exchanged, compared to its average volume of 391,548. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.87 and a current ratio of 2.02. The company’s fifty day moving average price is $11.68 and its 200 day moving average price is $13.24. The company has a market cap of $1.74 billion, a price-to-earnings ratio of -21.07, a price-to-earnings-growth ratio of 0.66 and a beta of 1.32. Pactiv Evergreen has a one year low of $7.41 and a one year high of $15.84.

Pactiv Evergreen (NASDAQ:PTVE) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.36 billion. Pactiv Evergreen had a return on equity of 13.35% and a net margin of 1.49%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.20 earnings per share. As a group, analysts expect that Pactiv Evergreen will post 1.08 EPS for the current year.

Pactiv Evergreen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, August 30th. This represents a $0.40 annualized dividend and a dividend yield of 4.13%. Pactiv Evergreen’s dividend payout ratio is currently -86.96%.

Institutional Investors Weigh In On Pactiv Evergreen

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Pactiv Evergreen by 1.1% in the third quarter. Vanguard Group Inc. now owns 3,641,254 shares of the company’s stock worth $29,603,000 after buying an additional 39,663 shares in the last quarter. Cerity Partners LLC bought a new position in Pactiv Evergreen in the fourth quarter valued at $178,000. Cornercap Investment Counsel Inc. increased its stake in Pactiv Evergreen by 3.8% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 115,124 shares of the company’s stock valued at $1,578,000 after acquiring an additional 4,179 shares during the last quarter. Federated Hermes Inc. increased its stake in Pactiv Evergreen by 109.7% in the fourth quarter. Federated Hermes Inc. now owns 3,476 shares of the company’s stock valued at $48,000 after acquiring an additional 1,818 shares during the last quarter. Finally, J.W. Cole Advisors Inc. bought a new position in Pactiv Evergreen in the fourth quarter valued at $483,000. Hedge funds and other institutional investors own 22.23% of the company’s stock.

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.