Sealed Air Co. (NYSE:SEE) Shares Sold by Kestra Private Wealth Services LLC

Posted by Defense World Staff on Apr 21st, 2023

Kestra Private Wealth Services LLC lessened its stake in Sealed Air Co. (NYSE:SEE – Get Rating) by 30.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,971 shares of the industrial products company’s stock after selling 2,175 shares during the period. Kestra Private Wealth Services LLC’s holdings in Sealed Air were worth $248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Whittier Trust Co. boosted its stake in Sealed Air by 54.2% in the fourth quarter. Whittier Trust Co. now owns 666 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 234 shares in the last quarter. Wipfli Financial Advisors LLC acquired a new position in Sealed Air in the third quarter valued at $45,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Sealed Air in the fourth quarter valued at $52,000. CWM LLC boosted its stake in Sealed Air by 17.5% in the third quarter. CWM LLC now owns 1,464 shares of the industrial products company’s stock valued at $65,000 after acquiring an additional 218 shares in the last quarter. Finally, Zions Bancorporation N.A. boosted its stake in Sealed Air by 334.1% in the first quarter. Zions Bancorporation N.A. now owns 981 shares of the industrial products company’s stock valued at $66,000 after acquiring an additional 755 shares in the last quarter. Institutional investors and hedge funds own 89.63% of the company’s stock.

Sealed Air Trading Down 0.1 %

Shares of SEE opened at $47.19 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.60 and a debt-to-equity ratio of 9.41. The firm’s 50-day moving average is $46.93 and its two-hundred day moving average is $49.06. Sealed Air Co. has a twelve month low of $41.24 and a twelve month high of $69.84. The firm has a market capitalization of $6.81 billion, a P/E ratio of 14.13, a PEG ratio of 4.08 and a beta of 1.23.

Sealed Air (NYSE:SEE – Get Rating) last issued its earnings results on Thursday, February 9th. The industrial products company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.01. Sealed Air had a net margin of 8.71% and a return on equity of 254.05%. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the business posted $1.12 earnings per share. The firm’s revenue for the quarter was down 8.6% compared to the same quarter last year. On average, research analysts predict that Sealed Air Co. will post 3.65 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 24th. Shareholders of record on Friday, March 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, March 9th. This represents a $0.80 annualized dividend and a yield of 1.70%. Sealed Air’s payout ratio is currently 23.95%.

Analysts Set New Price Targets

A number of brokerages have recently commented on SEE. Credit Suisse Group reduced their target price on shares of Sealed Air from $64.00 to $59.00 and set a “neutral” rating for the company in a report on Monday, February 13th. Mizuho upped their target price on shares of Sealed Air from $57.00 to $58.00 in a report on Tuesday. Morgan Stanley reduced their target price on shares of Sealed Air from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, February 15th. UBS Group raised shares of Sealed Air from a “neutral” rating to a “buy” rating and set a $59.00 target price for the company in a report on Wednesday, April 5th. Finally, Citigroup upped their target price on shares of Sealed Air from $51.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, February 13th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $57.91.

About Sealed Air

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Sealed Air Corp. engages in the provision of food safety and security, facility hygiene, and product protection services. It operates through the Food and Protective segments. The Food segment services perishable food processors in fresh red meat, smoked and processed meat, poultry, seafood, plant-based, and dairy markets.