Analysts Set Sealed Air Corp (SEE) Price Target at $50.00
Shares of Sealed Air Corp (NYSE:SEE) have earned an average recommendation of “Hold” from the fourteen research firms that are covering the firm, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $50.00.
A number of research analysts have issued reports on the stock. ValuEngine raised shares of Sealed Air from a “sell” rating to a “hold” rating in a research report on Saturday, July 28th. Zacks Investment Research raised shares of Sealed Air from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research report on Friday, June 15th. Barclays reduced their price objective on shares of Sealed Air from $51.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, August 9th. Finally, KeyCorp reissued a “hold” rating on shares of Sealed Air in a research report on Thursday, August 2nd.
NYSE:SEE traded down $0.10 during midday trading on Wednesday, reaching $41.64. 35,812 shares of the stock traded hands, compared to its average volume of 1,385,611. Sealed Air has a 12 month low of $38.49 and a 12 month high of $49.94. The company has a quick ratio of 0.69, a current ratio of 1.11 and a debt-to-equity ratio of -8.64. The firm has a market capitalization of $6.63 billion, a P/E ratio of 22.98, a P/E/G ratio of 1.79 and a beta of 1.08.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 21st. Shareholders of record on Friday, September 7th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend was Thursday, September 6th. Sealed Air’s payout ratio is currently 35.36%.
In other Sealed Air news, Director Jerry R. Whitaker bought 1,000 shares of Sealed Air stock in a transaction dated Tuesday, August 14th. The shares were purchased at an average cost of $39.81 per share, with a total value of $39,810.00. Following the transaction, the director now directly owns 8,021 shares of the company’s stock, valued at $319,316.01. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Edward L. Doheny II bought 5,000 shares of Sealed Air stock in a transaction dated Monday, August 13th. The stock was acquired at an average cost of $39.65 per share, for a total transaction of $198,250.00. Following the completion of the transaction, the insider now directly owns 78,145 shares in the company, valued at $3,098,449.25. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 6,600 shares of company stock worth $262,654. Insiders own 0.63% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Royal London Asset Management Ltd. purchased a new stake in shares of Sealed Air in the 2nd quarter worth about $3,268,000. WINTON GROUP Ltd grew its position in shares of Sealed Air by 184.5% in the 2nd quarter. WINTON GROUP Ltd now owns 228,413 shares of the industrial products company’s stock worth $9,696,000 after buying an additional 148,118 shares during the period. Verition Fund Management LLC purchased a new stake in shares of Sealed Air in the 2nd quarter worth about $1,670,000. Millennium Management LLC grew its position in shares of Sealed Air by 897.1% in the 2nd quarter. Millennium Management LLC now owns 194,465 shares of the industrial products company’s stock worth $8,255,000 after buying an additional 174,962 shares during the period. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in shares of Sealed Air in the 2nd quarter worth about $2,488,000. 96.18% of the stock is currently owned by hedge funds and other institutional investors.
About Sealed Air
Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. The company operates through Food Care and Product Care segments. The Food Care segment offers integrated system solutions that enhance the management of contamination risk during the food and beverage production process, extend product shelf life through packaging technologies, and improve merchandising, ease-of-use, and back-of-house preparation processes to processors, retailers, and food service operators under the Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.
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