Sealed Air (NYSE:SEE) Given New $43.00 Price Target at Wells Fargo & Company

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

A number of other equities research analysts also recently weighed in on SEE. Truist Financial raised their price target on shares of Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, January 6th. UBS Group reduced 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 note on Friday, January 10th. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Bank of America reduced their price target on shares of Sealed Air from $42.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Morgan Stanley reduced their price target on shares of Sealed Air from $39.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. 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 company. According to MarketBeat, Sealed Air currently has a consensus rating of “Moderate Buy” and an average target price of $40.17.

Sealed Air Price Performance

SEE stock opened at $33.68 on Wednesday. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. Sealed Air has a 12 month low of $30.87 and a 12 month high of $41.14. The firm has a market cap of $4.91 billion, a P/E ratio of 12.38 and a beta of 1.34. The company’s 50-day moving average price is $34.13 and its two-hundred day moving average price is $34.90.

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

Sealed Air Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.38%. Sealed Air’s dividend payout ratio (DPR) is currently 29.41%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of 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 worth $620,117,000 after purchasing an additional 2,754,395 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in shares of 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 worth $416,657,000 after purchasing an additional 1,081,848 shares during the period. Pacer Advisors Inc. acquired a new position in shares of Sealed Air in the 3rd quarter worth approximately $139,800,000. Invesco Ltd. increased its stake in shares of 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 acquiring an additional 1,549,184 shares in the last quarter. Finally, Swedbank AB increased 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 acquiring an additional 846,882 shares in the last quarter. 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.