Pactiv Evergreen Inc. (PTVE) Declares $0.10 Dividend

Pactiv Evergreen Inc. said on March 6, 2023 that its board of directors declared a regular quarterly dividend of $0.10 per share ($0.40 annualized). Previously, the company paid $0.10 per share.

Shares must be purchased before the ex-div date of March 16, 2023 to qualify for the dividend. Shareholders of record as of March 17, 2023 will receive the payment on March 24, 2023.

At the current share price of $9.83 / share, the stock's dividend yield is 4.07%. Looking back five years and taking a sample every week, the average dividend yield has been 3.25%, the lowest has been 2.18%, and the highest has been 4.51%. The standard deviation of yields is 0.59 (n=114).

The current dividend yield is 1.38 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.22. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

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Analyst Price Forecast Suggests 34.89% Upside

As of March 8, 2023, the average one-year price target for Pactiv Evergreen Inc. is $13.26. The forecasts range from a low of $11.11 to a high of $16.80. The average price target represents an increase of 34.89% from its latest reported closing price of $9.83.

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The projected annual revenue for Pactiv Evergreen Inc. is $6,320MM, an increase of 1.61%. The projected annual non-GAAP EPS is $1.03.

What is the Fund Sentiment?

There are 293 funds or institutions reporting positions in Pactiv Evergreen Inc.. This is an increase of 1 owner(s) or 0.34% in the last quarter. Average portfolio weight of all funds dedicated to PTVE is 0.11%, an increase of 8.28%. Total shares owned by institutions increased in the last three months by 2.74% to 45,329K shares. The put/call ratio of PTVE is 0.24, indicating a bullish outlook.

What are Large Shareholders Doing?

American Century Companies holds 5,322K shares representing 2.99% ownership of the company. In it's prior filing, the firm reported owning 5,693K shares, representing a decrease of 6.98%. The firm decreased its portfolio allocation in PTVE by 99.89% over the last quarter.

Rubric Capital Management holds 4,452K shares representing 2.50% ownership of the company. In it's prior filing, the firm reported owning 4,350K shares, representing an increase of 2.30%. The firm increased its portfolio allocation in PTVE by 15.27% over the last quarter.

ASVIX - Small Cap Value Fund Investor Class holds 4,408K shares representing 2.48% ownership of the company. In it's prior filing, the firm reported owning 4,735K shares, representing a decrease of 7.41%. The firm increased its portfolio allocation in PTVE by 14.28% over the last quarter.

Frontier Capital Management Co holds 2,950K shares representing 1.66% ownership of the company. In it's prior filing, the firm reported owning 3,014K shares, representing a decrease of 2.15%. The firm increased its portfolio allocation in PTVE by 18.33% over the last quarter.

EVR Research holds 1,545K shares representing 0.87% ownership of the company. In it's prior filing, the firm reported owning 1,770K shares, representing a decrease of 14.56%. The firm decreased its portfolio allocation in PTVE by 99.88% over the last quarter.

Pactiv Evergreen Background Information
(This description is provided by the company.)

Pactiv Evergreen is one of the largest manufacturers of fresh food & beverage packaging in North America.

This story originally appeared on Fintel.