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

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

A number of other equities analysts have also recently issued reports on the company. Raymond James upgraded Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 target price on the stock in a report on Thursday, October 17th. Royal Bank of Canada cut their price objective on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a report on Thursday, October 17th. Truist Financial boosted their price target on Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Monday. StockNews.com raised shares of Sealed Air from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th. Finally, Bank of America reduced their target price on Sealed Air from $42.00 to $39.00 and set a “buy” rating for the company in a report on Monday. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.17.

Sealed Air Stock Down 1.5 %

Shares of Sealed Air stock opened at $33.71 on Monday. Sealed Air has a twelve month low of $30.87 and a twelve month high of $41.14. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. The business’s 50 day simple moving average is $35.40 and its 200-day simple moving average is $35.23. The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 4.97 and a beta of 1.34.

Sealed Air (NYSE:SEE) last issued its quarterly earnings data 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. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. Sealed Air’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.77 EPS. Equities research analysts forecast that Sealed Air will post 3.06 earnings per share for the current year.

Sealed Air Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend was Friday, December 6th. Sealed Air’s dividend payout ratio (DPR) is presently 29.41%.

Institutional Investors Weigh In On Sealed Air

Several large investors have recently made changes to their positions in SEE. Millennium Management LLC raised its stake in Sealed Air by 38.2% in the second 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. acquired a new stake in Sealed Air during the 3rd quarter worth approximately $139,800,000. Geode Capital Management LLC boosted its stake in Sealed Air by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,300,809 shares of the industrial products company’s stock valued at $83,542,000 after purchasing an additional 12,559 shares during the period. Dimensional Fund Advisors LP grew its holdings in 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 valued at $66,475,000 after buying an additional 479,675 shares in the last quarter. Finally, Deprince Race & Zollo Inc. boosted 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 valued at $64,571,000 after acquiring an additional 24,940 shares during the period. Institutional investors and hedge funds own 94.40% of the company’s stock.

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.