Carlson Capital L.P. Acquires New Stake in Pactiv Evergreen Inc. (NASDAQ:PTVE)

Carlson Capital L.P. acquired a new stake in Pactiv Evergreen Inc. (NASDAQ:PTVE) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 53,000 shares of the company’s stock, valued at approximately $926,000. Pactiv Evergreen makes up about 0.5% of Carlson Capital L.P.’s portfolio, making the stock its 14th biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in Pactiv Evergreen by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,088,854 shares of the company’s stock worth $12,535,000 after buying an additional 10,158 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Pactiv Evergreen by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 982,661 shares of the company’s stock worth $11,310,000 after buying an additional 16,029 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Pactiv Evergreen by 2.5% during the 4th quarter. Bank of New York Mellon Corp now owns 772,796 shares of the company’s stock worth $13,501,000 after buying an additional 18,672 shares in the last quarter. Empowered Funds LLC lifted its position in Pactiv Evergreen by 17.3% during the 3rd quarter. Empowered Funds LLC now owns 741,456 shares of the company’s stock worth $8,534,000 after buying an additional 109,513 shares in the last quarter. Finally, Alberta Investment Management Corp bought a new stake in Pactiv Evergreen during the 4th quarter worth about $9,958,000. 22.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on PTVE. Jefferies Financial Group reissued a “hold” rating and set a $18.00 price target (up from $15.00) on shares of Pactiv Evergreen in a research report on Wednesday, December 18th. Royal Bank of Canada reissued a “sector perform” rating and set a $18.00 price target (up from $14.00) on shares of Pactiv Evergreen in a research report on Thursday, December 19th. Citigroup restated a “neutral” rating and set a $18.00 price objective (up from $13.00) on shares of Pactiv Evergreen in a research note on Tuesday, December 10th. Finally, UBS Group lowered shares of Pactiv Evergreen from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $16.00 to $18.00 in a research note on Friday, January 10th. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.33.

Pactiv Evergreen Stock Down 0.1 %

Pactiv Evergreen stock opened at $17.83 on Thursday. The firm has a market capitalization of $3.20 billion, a PE ratio of -19.38, a P/E/G ratio of 1.47 and a beta of 1.24. The company’s 50-day moving average is $17.64 and its 200-day moving average is $14.19. Pactiv Evergreen Inc. has a fifty-two week low of $8.83 and a fifty-two week high of $17.86. 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 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.