Sealed Air (NYSE:SEE) Price Target Raised to $43.00

Sealed Air (NYSE:SEE) had its target price increased by Wells Fargo & Company from $42.00 to $43.00 in a report issued on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the industrial products company’s stock.

Several other brokerages have also weighed in on SEE. Mizuho dropped their price objective on shares of Sealed Air from $45.00 to $42.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Bank of America dropped their price objective on shares of Sealed Air from $42.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Morgan Stanley dropped their price objective on shares of Sealed Air from $39.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Truist Financial increased their price objective on shares of Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, UBS Group lowered their price target on shares of Sealed Air from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.17.

Sealed Air Stock Performance

Shares of SEE stock opened at $34.21 on Wednesday. The stock has a market cap of $4.98 billion, a P/E ratio of 12.58 and a beta of 1.34. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79. The company has a fifty day moving average price of $34.12 and a two-hundred day moving average price of $34.90. Sealed Air has a one year low of $30.87 and a one year high of $41.14.

Sealed Air (NYSE:SEE) last issued its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The company’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 earnings per share. As a group, equities analysts predict that Sealed Air will post 3.05 EPS for the current year.

Sealed Air Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Friday, March 14th. Sealed Air’s dividend payout ratio is currently 44.20%.

Hedge Funds Weigh In On Sealed Air

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Sealed Air by 17.7% in the 4th quarter. Vanguard Group Inc. now owns 18,330,381 shares of the industrial products company’s stock valued at $620,117,000 after buying an additional 2,754,395 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in Sealed Air by 9.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 12,316,192 shares of the industrial products company’s stock valued at $416,657,000 after buying an additional 1,081,848 shares during the period. Pacer Advisors Inc. bought a new position in Sealed Air in the 3rd quarter valued at about $139,800,000. Invesco Ltd. increased its holdings in Sealed Air by 69.2% in the 4th quarter. Invesco Ltd. now owns 3,788,839 shares of the industrial products company’s stock valued at $128,176,000 after buying an additional 1,549,184 shares during the period. Finally, Swedbank AB boosted its stake in shares of Sealed Air by 57.3% in the 4th quarter. Swedbank AB now owns 2,325,696 shares of the industrial products company’s stock valued at $78,678,000 after purchasing an additional 846,882 shares in the last quarter. 94.40% of the stock is owned by institutional investors.

About Sealed Air

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.