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

Sealed Air (NYSE:SEE) had its target price decreased by Mizuho from $45.00 to $42.00 in a research note published on Tuesday morning,Benzinga reports. Mizuho currently has an outperform rating on the industrial products company’s stock.

Several other equities research analysts also recently weighed in on the stock. Citigroup reduced their target price on shares of Sealed Air from $44.00 to $42.00 and set a “buy” rating on the stock in a research note on Monday. StockNews.com raised shares of Sealed Air from a “hold” rating to a “buy” rating in a research note on Tuesday, December 10th. Wells Fargo & Company cut their target price on Sealed Air from $44.00 to $42.00 and set an “overweight” rating on the stock in a research note on Monday. Bank of America decreased their price target on Sealed Air from $42.00 to $39.00 and set a “buy” rating for the company in a research note on Monday. Finally, Truist Financial increased their target price on Sealed Air from $41.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Sealed Air currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.17.

Sealed Air Stock Performance

NYSE:SEE opened at $33.71 on Tuesday. The company has a market cap 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 has a 1 year low of $30.87 and a 1 year high of $41.14. The stock’s 50 day simple moving average is $35.35 and its two-hundred day simple moving average is $35.22. 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 released its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.12. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the firm earned $0.77 earnings per share. Sealed Air’s revenue was down 2.7% on a year-over-year basis. As a group, equities analysts anticipate that Sealed Air will post 3.06 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

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

Hedge Funds Weigh In On Sealed Air

Several institutional investors have recently bought and sold shares of SEE. Strategic Investment Solutions Inc. IL bought a new position in shares of Sealed Air during the 2nd quarter worth approximately $34,000. GAMMA Investing LLC grew its holdings in Sealed Air by 218.0% in the fourth quarter. GAMMA Investing LLC now owns 1,323 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 907 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Sealed Air by 523.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company’s stock worth $101,000 after purchasing an additional 2,445 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Sealed Air during the 2nd quarter valued at $105,000. Finally, Quarry LP boosted its position in shares of Sealed Air by 230.1% in the 2nd quarter. Quarry LP now owns 3,390 shares of the industrial products company’s stock worth $118,000 after purchasing an additional 2,363 shares in the last quarter. 94.40% of the stock is owned by hedge funds and other institutional investors.

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.