Brokerages Set Sealed Air Co. (NYSE:SEE) Target Price at $40.08

Sealed Air Co. (NYSE:SEE) has earned an average recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $40.00.

Several brokerages have issued reports on SEE. Wells Fargo & Company lowered their price target on shares of Sealed Air from $44.00 to $42.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Citigroup decreased their price target on Sealed Air from $44.00 to $42.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Morgan Stanley cut their price objective on Sealed Air from $39.00 to $38.00 and set an “equal weight” rating for the company in a report on Monday. Mizuho cut their price target on shares of Sealed Air from $45.00 to $42.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada dropped their target price on shares of Sealed Air from $40.00 to $39.00 and set a “sector perform” rating on the stock in a report on Thursday, October 17th.

Institutional Investors Weigh In On Sealed Air

A number of hedge funds and other institutional investors have recently modified their holdings of SEE. Millennium Management LLC boosted its holdings in Sealed Air by 38.2% in the 2nd quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company’s stock valued at $143,136,000 after purchasing an additional 1,136,985 shares during the period. Pacer Advisors Inc. bought a new stake in shares of Sealed Air in the third quarter valued at approximately $139,800,000. Geode Capital Management LLC grew its position in Sealed Air by 0.5% during 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 buying an additional 12,559 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Sealed Air by 33.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,910,647 shares of the industrial products company’s stock worth $66,475,000 after acquiring an additional 479,675 shares during the period. Finally, Deprince Race & Zollo Inc. increased 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 worth $64,571,000 after purchasing an additional 24,940 shares during the period. Institutional investors and hedge funds own 94.40% of the company’s stock.

Sealed Air Stock Up 1.0 %

Shares of SEE stock opened at $33.98 on Friday. Sealed Air has a 12-month low of $30.87 and a 12-month high of $41.14. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. The firm has a fifty day moving average of $35.23 and a 200-day moving average of $35.18. The company has a market capitalization 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 posted its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.12. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the prior year, the firm earned $0.77 earnings per share. Sealed Air’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, equities research analysts predict that Sealed Air will post 3.06 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, December 20th. Shareholders of record on Friday, December 6th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Friday, December 6th. Sealed Air’s dividend payout ratio is 29.41%.

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.