Picton Mahoney Asset Management Makes New $6.43 Million Investment in Pactiv Evergreen Inc. (NASDAQ:PTVE)

Picton Mahoney Asset Management purchased a new position in Pactiv Evergreen Inc. (NASDAQ:PTVE) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 367,824 shares of the company’s stock, valued at approximately $6,426,000. Picton Mahoney Asset Management owned approximately 0.21% of Pactiv Evergreen at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PTVE. AlphaQuest LLC grew its holdings in shares of Pactiv Evergreen by 10,155.9% during the fourth quarter. AlphaQuest LLC now owns 3,487 shares of the company’s stock worth $61,000 after buying an additional 3,453 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Pactiv Evergreen by 1,590.7% during 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 in the last quarter. Intech Investment Management LLC bought a new position in shares of Pactiv Evergreen during the third quarter worth about $132,000. SG Americas Securities LLC bought a new position in shares of Pactiv Evergreen during the fourth quarter worth about $270,000. Finally, Paloma Partners Management Co bought a new position in shares of Pactiv Evergreen during the third quarter worth about $178,000. 22.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Jefferies Financial Group reiterated a “hold” rating and set a $18.00 price objective (up from $15.00) on shares of Pactiv Evergreen in a report on Wednesday, December 18th. UBS Group downgraded Pactiv Evergreen from a “buy” rating to a “neutral” rating and raised their price target for the company from $16.00 to $18.00 in a research note on Friday, January 10th. Royal Bank of Canada restated a “sector perform” rating and issued a $18.00 price target (up from $14.00) on shares of Pactiv Evergreen in a research note on Thursday, December 19th. Finally, Citigroup restated a “neutral” rating and issued a $18.00 price target (up from $13.00) on shares of Pactiv Evergreen in a research note on Tuesday, December 10th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $16.80.

Pactiv Evergreen Price Performance

PTVE stock opened at $17.88 on Friday. Pactiv Evergreen Inc. has a twelve month low of $8.83 and a twelve month high of $17.90. The company has a market cap of $3.23 billion, a price-to-earnings ratio of -19.43, a P/E/G ratio of 1.47 and a beta of 1.24. The business has a 50 day moving average price of $17.75 and a two-hundred day moving average price of $14.78. The company has a quick ratio of 1.04, a current ratio of 1.93 and a debt-to-equity ratio of 3.26.

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.