Citigroup Lowers Sealed Air (NYSE:SEE) Price Target to $42.00

Sealed Air (NYSE:SEE) had its price target lowered by Citigroup from $44.00 to $42.00 in a research report sent to investors on Monday,Benzinga reports. Citigroup currently has a buy rating on the industrial products company’s stock.

Several other analysts also recently issued reports on SEE. Wells Fargo & Company reduced their price target on shares of Sealed Air from $44.00 to $42.00 and set an “overweight” rating on the stock in a report on Monday. StockNews.com raised Sealed Air from a “hold” rating to a “buy” rating in a research note on Tuesday, December 10th. Truist Financial increased their target price on Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a report on Monday. Bank of America cut their price target on Sealed Air from $42.00 to $39.00 and set a “buy” rating for the company in a report on Monday. Finally, Raymond James raised Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a research note on Thursday, October 17th. Seven equities research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $40.83.

Sealed Air Price Performance

Shares of NYSE:SEE opened at $33.97 on Monday. Sealed Air has a 12 month low of $30.87 and a 12 month high of $41.14. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of 12.49, a price-to-earnings-growth ratio of 4.97 and a beta of 1.34. The business’s 50 day simple moving average is $35.49 and its 200-day simple moving average is $35.26. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79.

Sealed Air (NYSE:SEE) last posted its earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the company earned $0.77 earnings per share. Sealed Air’s revenue was down 2.7% compared to the same quarter last year. As a group, equities analysts forecast that Sealed Air will post 3.06 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

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

Hedge Funds Weigh In On Sealed Air

Several institutional investors and hedge funds have recently bought and sold shares of the stock. 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 valued at $143,136,000 after buying an additional 1,136,985 shares during the period. Pacer Advisors Inc. purchased a new stake in Sealed Air during the third quarter valued at about $139,800,000. Geode Capital Management LLC increased its stake 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 acquiring an additional 12,559 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Sealed Air by 33.5% in 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 purchasing an additional 479,675 shares during the period. Finally, Deprince Race & Zollo Inc. lifted its stake in shares of Sealed Air by 1.4% in the 2nd 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 in the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.

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.