77,781 Shares in Pactiv Evergreen Inc. (NASDAQ:PTVE) Acquired by Wolverine Asset Management LLC

Wolverine Asset Management LLC purchased a new stake in Pactiv Evergreen Inc. (NASDAQ:PTVE) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 77,781 shares of the company’s stock, valued at approximately $1,359,000.

Several other large investors have also recently bought and sold shares of PTVE. Alberta Investment Management Corp bought a new stake in Pactiv Evergreen during the fourth quarter valued at $9,958,000. Principal Financial Group Inc. raised its holdings in shares of Pactiv Evergreen by 8.4% in the 4th quarter. Principal Financial Group Inc. now owns 21,614 shares of the company’s stock valued at $378,000 after acquiring an additional 1,684 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Pactiv Evergreen by 2.2% during the 4th 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 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 purchasing an additional 7,492 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Pactiv Evergreen in the fourth quarter worth approximately $270,000. 22.23% of the stock is owned by institutional investors.

Pactiv Evergreen Price Performance

Shares of Pactiv Evergreen stock opened at $17.83 on Friday. 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 Inc. has a 52-week low of $8.83 and a 52-week high of $17.86. The company has a fifty day moving average of $17.61 and a 200-day moving average of $14.00. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of -19.38, a price-to-earnings-growth ratio of 1.47 and a beta of 1.24.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. UBS Group downgraded shares of Pactiv Evergreen from a “buy” rating to a “neutral” rating and raised their target price 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 set a $18.00 price objective (up previously from $14.00) on shares of Pactiv Evergreen in a research report on Thursday, December 19th. Citigroup reiterated a “neutral” rating and issued a $18.00 target price (up from $13.00) on shares of Pactiv Evergreen in a research report on Tuesday, December 10th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $18.00 target price (up previously from $15.00) on shares of Pactiv Evergreen in a research note on Wednesday, December 18th. Six analysts have rated the stock with a hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $16.33.

About Pactiv Evergreen

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.