Chicago Capital Management LLC Purchases Shares of 30,000 Pactiv Evergreen Inc. (NASDAQ:PTVE)

Chicago Capital Management LLC acquired a new position in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 30,000 shares of the company’s stock, valued at approximately $524,000.

Several other large investors also recently made changes to their positions in PTVE. Rhumbline Advisers grew its stake in Pactiv Evergreen by 2.2% in the fourth quarter. Rhumbline Advisers now owns 70,786 shares of the company’s stock valued at $1,237,000 after acquiring an additional 1,538 shares during the period. Principal Financial Group Inc. raised its holdings in Pactiv Evergreen by 8.4% during the fourth quarter. Principal Financial Group Inc. now owns 21,614 shares of the company’s stock worth $378,000 after buying an additional 1,684 shares during the last quarter. AlphaQuest LLC raised its holdings in 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 during the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of Pactiv Evergreen by 45.5% in the fourth quarter. Los Angeles Capital Management LLC now owns 21,048 shares of the company’s stock valued at $368,000 after buying an additional 6,580 shares in the last quarter. Finally, Blue Trust Inc. increased its position 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 acquiring an additional 7,492 shares in the last quarter. 22.23% of the stock is currently owned by institutional investors and hedge funds.

Pactiv Evergreen Price Performance

Pactiv Evergreen stock opened at $17.94 on Wednesday. The firm has a market capitalization of $3.24 billion, a P/E ratio of -19.50, a PEG ratio of 1.47 and a beta of 1.24. Pactiv Evergreen Inc. has a one year low of $8.83 and a one year high of $17.94. The company has a debt-to-equity ratio of 3.26, a current ratio of 1.93 and a quick ratio of 1.04. The business has a fifty day moving average price of $17.80 and a 200-day moving average price of $15.11.

Analyst Ratings Changes

A number of research firms recently weighed in on PTVE. Citigroup reissued a “neutral” rating and set a $18.00 price target (up from $13.00) on shares of Pactiv Evergreen in a research report on Tuesday, December 10th. UBS Group cut shares of Pactiv Evergreen from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $16.00 to $18.00 in a research report on Friday, January 10th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $18.00 target price (up from $15.00) on shares of Pactiv Evergreen in a report on Wednesday, December 18th. Finally, Royal Bank of Canada reaffirmed 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. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, Pactiv Evergreen presently has a consensus rating of “Hold” and a consensus target price of $16.80.

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.