Sealed Air (NYSE:SEE) Given New $33.00 Price Target at JPMorgan Chase & Co.

Sealed Air (NYSE:SEE) had its price objective decreased by JPMorgan Chase & Co. from $35.00 to $33.00 in a research note published on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the industrial products company’s stock.

SEE has been the topic of several other reports. Jefferies Financial Group cut shares of Sealed Air from a buy rating to a hold rating and cut their price target for the stock from $47.00 to $35.00 in a research report on Friday, August 9th. Truist Financial reissued a buy rating and issued a $44.00 price objective on shares of Sealed Air in a report on Monday, June 17th. Wells Fargo & Company upped their price target on shares of Sealed Air from $43.00 to $44.00 and gave the stock an overweight rating in a research report on Friday, August 9th. Stifel Nicolaus started coverage on shares of Sealed Air in a research note on Tuesday, July 9th. They set a buy rating and a $47.00 price objective on the stock. Finally, Mizuho upgraded shares of Sealed Air from a neutral rating to a buy rating and raised their target price for the company from $36.00 to $50.00 in a research note on Thursday, June 6th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $42.10.

Sealed Air Stock Up 0.9 %

Shares of SEE traded up $0.28 on Thursday, hitting $32.90. The company’s stock had a trading volume of 979,348 shares, compared to its average volume of 1,556,981. The firm’s fifty day moving average price is $35.73 and its 200-day moving average price is $35.63. Sealed Air has a fifty-two week low of $28.50 and a fifty-two week high of $41.14. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 6.81. The firm has a market capitalization of $4.79 billion, a price-to-earnings ratio of 13.10, a P/E/G ratio of 8.42 and a beta of 1.35.

Sealed Air (NYSE:SEE) last issued its quarterly earnings data on Thursday, August 8th. The industrial products company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.19. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.31 billion. Sealed Air had a net margin of 6.64% and a return on equity of 85.65%. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period last year, the business posted $0.80 earnings per share. On average, equities research analysts expect that Sealed Air will post 2.91 EPS for the current year.

Sealed Air Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Friday, September 13th. Sealed Air’s dividend payout ratio (DPR) is currently 32.13%.

Hedge Funds Weigh In On Sealed Air

Hedge funds and other institutional investors have recently made changes to their positions in the company. Family Firm Inc. acquired a new stake in shares of Sealed Air in the 2nd quarter valued at approximately $26,000. Fidelis Capital Partners LLC bought a new position in shares of Sealed Air in the 1st quarter valued at $31,000. Allspring Global Investments Holdings LLC bought a new position in shares of Sealed Air in the 1st quarter valued at $52,000. Signaturefd LLC boosted its holdings in shares of Sealed Air by 43.2% during the 4th quarter. Signaturefd LLC now owns 1,531 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 462 shares in the last quarter. Finally, Covestor Ltd increased its holdings in Sealed Air by 651.2% in the 1st quarter. Covestor Ltd now owns 1,615 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 1,400 shares in the last quarter. 94.40% of the stock is currently owned by institutional investors and hedge funds.

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.