Sealed Air (NYSE:SEE) Price Target Lowered to $42.00 at Wells Fargo & Company

Sealed Air (NYSE:SEE) had its price objective trimmed by Wells Fargo & Company from $44.00 to $42.00 in a report published on Monday,Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

SEE has been the topic of several other research reports. StockNews.com raised shares of Sealed Air from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th. Royal Bank of Canada cut their target price on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 17th. Truist Financial increased their price target on Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Monday. Finally, Raymond James raised shares of Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.83.

Sealed Air Trading Up 0.7 %

NYSE SEE opened at $33.97 on Monday. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. Sealed Air has a 52 week low of $30.87 and a 52 week high of $41.14. The business has a 50 day moving average price of $35.49 and a 200-day moving average price of $35.26. The company has a market cap of $4.95 billion, a price-to-earnings ratio of 12.49, a P/E/G ratio of 4.97 and a beta of 1.34.

Sealed Air (NYSE:SEE) last announced its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.12. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the business posted $0.77 EPS. Sealed Air’s quarterly revenue was down 2.7% on a year-over-year basis. As a group, equities analysts expect that Sealed Air will post 3.06 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend was Friday, December 6th. Sealed Air’s dividend payout ratio is currently 29.41%.

Institutional Trading of Sealed Air

Several hedge funds have recently made changes to their positions in the company. Millennium Management LLC grew its stake in shares of Sealed Air by 38.2% during the 2nd quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company’s stock worth $143,136,000 after acquiring an additional 1,136,985 shares during the period. Pacer Advisors Inc. bought a new position in Sealed Air during the third quarter worth about $139,800,000. Geode Capital Management LLC increased its stake in shares of Sealed Air by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,300,809 shares of the industrial products company’s stock worth $83,542,000 after purchasing an additional 12,559 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Sealed Air by 33.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,910,647 shares of the industrial products company’s stock worth $66,475,000 after purchasing an additional 479,675 shares in the last quarter. Finally, Deprince Race & Zollo Inc. raised its position in shares of Sealed Air by 1.4% in the second quarter. Deprince Race & Zollo Inc. now owns 1,856,020 shares of the industrial products company’s stock valued at $64,571,000 after purchasing an additional 24,940 shares during the period. 94.40% of the stock is currently owned by institutional investors.

Sealed Air Company Profile

Sealed Air Corporation provides packaging solutions in the Americas, Europe, the Middle East, Africa, Asia, Australia, and New Zealand. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety, shelf life extension, reduce food waste, automate processes, and optimize total cost for food processors in the fresh red meat, smoked and processed meats, poultry, seafood, plant-based, fluids and liquids and cheese markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, LIQUIBOX, Simple Steps, and Optidure brands.