Sei Investments Co. Lowers Stock Position in Pactiv Evergreen Inc. (NASDAQ:PTVE)

Sei Investments Co. lowered its holdings in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE - Free Report) by 71.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 100,353 shares of the company's stock after selling 251,051 shares during the quarter. Sei Investments Co. owned 0.06% of Pactiv Evergreen worth $1,753,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Magnetar Financial LLC bought a new position in shares of Pactiv Evergreen in the 4th quarter valued at about $53,645,000. Geode Capital Management LLC raised its position in Pactiv Evergreen by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,088,854 shares of the company's stock valued at $12,535,000 after purchasing an additional 10,158 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Pactiv Evergreen by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 992,003 shares of the company's stock valued at $17,330,000 after purchasing an additional 9,342 shares during the last quarter. Alpine Associates Management Inc. purchased a new position in shares of Pactiv Evergreen in the 4th quarter worth approximately $14,325,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Pactiv Evergreen by 2.5% in the 4th quarter. Bank of New York Mellon Corp now owns 772,796 shares of the company's stock worth $13,501,000 after purchasing an additional 18,672 shares during the period. 22.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PTVE has been the subject of a number of analyst reports. Jefferies Financial Group restated a "hold" rating and issued 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 restated a "sector perform" rating and issued a $18.00 target price (up previously from $14.00) on shares of Pactiv Evergreen in a report on Thursday, December 19th. Finally, UBS Group cut shares of Pactiv Evergreen from a "buy" rating to a "neutral" rating and lifted their price target for the stock from $16.00 to $18.00 in a research note on Friday, January 10th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $16.80.

Pactiv Evergreen Stock Performance

PTVE stock remained flat at $18.01 during midday trading on Thursday. Pactiv Evergreen Inc. has a twelve month low of $8.83 and a twelve month high of $18.03. The firm has a market capitalization of $3.25 billion, a PE ratio of -19.58, a price-to-earnings-growth ratio of 1.47 and a beta of 1.24. The business's fifty day moving average price is $17.88 and its two-hundred day moving average price is $15.70. The company has a debt-to-equity ratio of 3.26, a quick ratio of 1.04 and a current ratio of 1.93.

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.