Mizuho Trims Sealed Air (NYSE:SEE) Target Price to $36.00

Sealed Air (NYSE:SEE) had its price target reduced by Mizuho from $39.00 to $36.00 in a research report report published on Friday, Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Several other equities research analysts have also recently issued reports on the company. Truist Financial raised Sealed Air from a hold rating to a buy rating and lifted their target price for the stock from $39.00 to $44.00 in a report on Monday, April 8th. Wells Fargo & Company raised Sealed Air from an equal weight rating to an overweight rating and upped their price objective for the stock from $35.00 to $43.00 in a report on Thursday, January 11th. Finally, Wolfe Research assumed coverage on shares of Sealed Air in a research report on Friday, March 1st. They issued a peer perform rating on the stock. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Sealed Air currently has an average rating of Hold and an average price target of $43.91.

Sealed Air Price Performance

Shares of Sealed Air stock traded up $0.62 during trading hours on Friday, hitting $35.79. The company’s stock had a trading volume of 2,149,312 shares, compared to its average volume of 1,636,751. The company has a debt-to-equity ratio of 7.49, a quick ratio of 0.80 and a current ratio of 1.33. Sealed Air has a 12-month low of $28.50 and a 12-month high of $47.12. The business has a 50 day moving average price of $34.34 and a two-hundred day moving average price of $34.44. The company has a market cap of $5.21 billion, a PE ratio of 14.12, a PEG ratio of 3.86 and a beta of 1.31.

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

Sealed Air Dividend Announcement

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

Institutional Trading of Sealed Air

A number of large investors have recently made changes to their positions in SEE. Dark Forest Capital Management LP purchased a new stake in Sealed Air in the 3rd quarter valued at about $895,000. Louisiana State Employees Retirement System bought a new position in Sealed Air in the fourth quarter worth approximately $2,965,000. Adage Capital Partners GP L.L.C. raised its position in Sealed Air by 66.3% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 250,097 shares of the industrial products company’s stock valued at $8,218,000 after purchasing an additional 99,700 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Sealed Air by 45.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 527,945 shares of the industrial products company’s stock valued at $17,348,000 after purchasing an additional 165,694 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Sealed Air by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 16,853,598 shares of the industrial products company’s stock worth $553,809,000 after buying an additional 92,114 shares in the last quarter. 94.40% of the stock is owned by hedge funds and other 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.