Olympiad Research LP Purchases Shares of 86,505 Pactiv Evergreen Inc. (NASDAQ:PTVE)

Olympiad Research LP acquired a new position in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) in the 4th quarter, Holdings Channel reports. The fund acquired 86,505 shares of the company’s stock, valued at approximately $1,511,000. Pactiv Evergreen accounts for approximately 1.6% of Olympiad Research LP’s portfolio, making the stock its 11th largest position.

Other institutional investors also recently modified their holdings of the company. Alberta Investment Management Corp bought a new stake in Pactiv Evergreen during the fourth quarter valued at approximately $9,958,000. Segall Bryant & Hamill LLC purchased a new stake in shares of Pactiv Evergreen during the 3rd quarter valued at $3,899,000. JPMorgan Chase & Co. lifted its holdings in shares of Pactiv Evergreen by 70.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 484,722 shares of the company’s stock worth $5,579,000 after acquiring an additional 200,873 shares during the last quarter. Victory Capital Management Inc. purchased a new position in Pactiv Evergreen in the third quarter worth $2,074,000. Finally, Empowered Funds LLC grew its position in Pactiv Evergreen by 17.3% in the third quarter. Empowered Funds LLC now owns 741,456 shares of the company’s stock worth $8,534,000 after acquiring an additional 109,513 shares in the last quarter. 22.23% of the stock is currently owned by institutional investors.

Pactiv Evergreen Price Performance

PTVE opened at $17.83 on Friday. The stock’s 50 day simple moving average is $17.61 and its 200 day simple moving average is $14.03. 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 Inc. has a 1 year low of $8.83 and a 1 year high of $17.86. The firm has a market cap of $3.20 billion, a price-to-earnings ratio of -19.38, a PEG ratio of 1.47 and a beta of 1.24.

Analysts Set New Price Targets

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

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.