Hsbc Holdings PLC Has $18.92 Million Stock Holdings in Pactiv Evergreen Inc. (NASDAQ:PTVE)

Hsbc Holdings PLC lifted its position in Pactiv Evergreen Inc. (NASDAQ:PTVE) by 7,831.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,079,488 shares of the company’s stock after purchasing an additional 1,065,878 shares during the period. Hsbc Holdings PLC’s holdings in Pactiv Evergreen were worth $18,918,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. AlphaQuest LLC raised its holdings in Pactiv Evergreen by 10,155.9% in the 4th quarter. AlphaQuest LLC now owns 3,487 shares of the company’s stock worth $61,000 after acquiring an additional 3,453 shares during the period. Blue Trust Inc. grew its position in shares of Pactiv Evergreen by 1,590.7% in the fourth quarter. Blue Trust Inc. now owns 7,963 shares of the company’s stock valued at $139,000 after purchasing an additional 7,492 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Pactiv Evergreen during the 4th quarter worth about $180,000. Envestnet Asset Management Inc. bought a new stake in Pactiv Evergreen during the 4th quarter valued at approximately $257,000. Finally, SG Americas Securities LLC acquired a new stake in Pactiv Evergreen in the 4th quarter valued at approximately $270,000. 22.23% of the stock is owned by institutional investors.

Pactiv Evergreen Stock Performance

Shares of PTVE opened at $18.01 on Friday. The stock’s 50-day moving average price is $17.94 and its 200 day moving average price is $16.20. The company has a quick ratio of 1.04, a current ratio of 1.93 and a debt-to-equity ratio of 3.26. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of -19.58, a P/E/G ratio of 1.47 and a beta of 1.24. Pactiv Evergreen Inc. has a 12-month low of $8.83 and a 12-month high of $18.03.

Analyst Ratings Changes

Separately, UBS Group lowered Pactiv Evergreen from a “buy” rating to a “neutral” rating and upped their price target for the stock from $16.00 to $18.00 in a report on Friday, January 10th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $16.80.

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.