Pactiv Evergreen Inc. (NASDAQ:PTVE) Shares Bought by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. grew its stake in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) by 43.0% in the third quarter, Holdings Channel.com reports. The fund owned 38,833 shares of the company’s stock after purchasing an additional 11,670 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Pactiv Evergreen were worth $447,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. CWM LLC increased its stake in Pactiv Evergreen by 186.8% in the 2nd quarter. CWM LLC now owns 3,396 shares of the company’s stock valued at $38,000 after purchasing an additional 2,212 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Pactiv Evergreen by 69.2% in the second quarter. Federated Hermes Inc. now owns 3,605 shares of the company’s stock valued at $41,000 after buying an additional 1,474 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Pactiv Evergreen in the second quarter valued at $83,000. Point72 DIFC Ltd boosted its position in shares of Pactiv Evergreen by 33.2% in the 2nd quarter. Point72 DIFC Ltd now owns 7,876 shares of the company’s stock worth $89,000 after buying an additional 1,965 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in Pactiv Evergreen in the 2nd quarter valued at about $114,000. Hedge funds and other institutional investors own 22.23% of the company’s stock.

Pactiv Evergreen Stock Performance

NASDAQ:PTVE opened at $17.36 on Tuesday. The company has a current ratio of 1.93, a quick ratio of 1.04 and a debt-to-equity ratio of 3.26. The company has a market capitalization of $3.11 billion, a P/E ratio of -18.87, a price-to-earnings-growth ratio of 1.44 and a beta of 1.35. The firm has a 50-day moving average price of $12.38 and a two-hundred day moving average price of $11.86. Pactiv Evergreen Inc. has a twelve month low of $8.83 and a twelve month high of $17.61.

Pactiv Evergreen (NASDAQ:PTVE) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.03. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.37 billion. Pactiv Evergreen had a positive return on equity of 14.41% and a negative net margin of 3.16%. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 EPS. As a group, research analysts expect that Pactiv Evergreen Inc. will post 1.03 earnings per share for the current fiscal year.

Pactiv Evergreen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a $0.10 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.40 annualized dividend and a dividend yield of 2.30%. Pactiv Evergreen’s dividend payout ratio is currently -43.48%.

Pactiv Evergreen 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.