Kestra Private Wealth Services LLC Sells 878 Shares of Sealed Air Co. (NYSE:SEE)

Kestra Private Wealth Services LLC reduced its holdings in shares of Sealed Air Co. (NYSE:SEE) by 7.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,430 shares of the industrial products company’s stock after selling 878 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Sealed Air were worth $417,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Sealed Air by 0.5% during the third quarter. Vanguard Group Inc. now owns 16,853,598 shares of the industrial products company’s stock worth $553,809,000 after acquiring an additional 92,114 shares during the period. Invesco Ltd. raised its stake in shares of Sealed Air by 70.1% in the third quarter. Invesco Ltd. now owns 5,238,340 shares of the industrial products company’s stock valued at $172,132,000 after buying an additional 2,159,143 shares during the period. Earnest Partners LLC raised its stake in shares of Sealed Air by 16.3% in the third quarter. Earnest Partners LLC now owns 2,159,920 shares of the industrial products company’s stock valued at $70,975,000 after buying an additional 302,099 shares during the period. Northern Trust Corp raised its stake in shares of Sealed Air by 7.4% in the third quarter. Northern Trust Corp now owns 1,863,751 shares of the industrial products company’s stock valued at $61,243,000 after buying an additional 128,830 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Sealed Air by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,243,823 shares of the industrial products company’s stock valued at $40,872,000 after buying an additional 38,863 shares during the period. 94.40% of the stock is currently owned by institutional investors.

Sealed Air Price Performance

Sealed Air stock opened at $35.79 on Tuesday. Sealed Air Co. has a 52 week low of $28.50 and a 52 week high of $47.12. The business has a 50-day simple moving average of $34.33 and a 200 day simple moving average of $34.49. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 7.49. The stock has a market cap of $5.21 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 3.86 and a beta of 1.31.

Sealed Air (NYSE:SEE) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.25. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Sealed Air had a return on equity of 94.93% and a net margin of 6.61%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.74 EPS. On average, research analysts forecast that Sealed Air Co. will post 2.8 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.80 annualized dividend and a dividend yield of 2.24%. Sealed Air’s dividend payout ratio (DPR) is presently 32.13%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SEE. Wolfe Research began coverage on Sealed Air in a research note on Friday, March 1st. They issued a “peer perform” rating on the stock. Truist Financial upgraded Sealed Air from a “hold” rating to a “buy” rating and boosted their target price for the company from $39.00 to $44.00 in a research note on Monday, April 8th. Wells Fargo & Company upgraded Sealed Air from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $35.00 to $43.00 in a research note on Thursday, January 11th. Finally, Mizuho decreased their price objective on Sealed Air from $39.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Sealed Air presently has a consensus rating of “Hold” and a consensus target price of $43.91.

Sealed Air 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.