Sealed Air Corporation (NYSE:SEE) Shares Bought by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd has significantly increased its stake in Sealed Air Corporation, raising its holdings by 559.2% to a total of $431,000 worth of stock.
• Sealed Air recently received multiple upgrades from analysts, with price targets now ranging from $37.00 to $40.00, while maintaining a consensus rating of 'Moderate Buy.'
• The company announced a quarterly dividend of $0.20 per share, resulting in an annualized yield of 2.69%, with a payout ratio of 39.60%.

Bayforest Capital Ltd boosted its position in shares of Sealed Air Corporation (NYSE:SEE - Free Report) by 559.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,912 shares of the industrial products company's stock after buying an additional 12,650 shares during the period. Bayforest Capital Ltd's holdings in Sealed Air were worth $431,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. grew its stake 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 valued at $416,657,000 after purchasing an additional 1,081,848 shares during the last quarter. Invesco Ltd. grew 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 purchasing an additional 1,549,184 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Sealed Air by 42.1% in the 1st quarter. Victory Capital Management Inc. now owns 2,864,927 shares of the industrial products company's stock valued at $82,796,000 after purchasing an additional 849,485 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Sealed Air by 8.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,204,663 shares of the industrial products company's stock valued at $74,583,000 after purchasing an additional 178,592 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Sealed Air by 21.3% in the 4th quarter. Northern Trust Corp now owns 1,642,371 shares of the industrial products company's stock valued at $55,561,000 after purchasing an additional 288,528 shares during the last quarter. 94.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on SEE. Wall Street Zen upgraded Sealed Air from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Mizuho lifted their price target on Sealed Air from $34.00 to $37.00 and gave the company an "outperformer" rating in a research note on Tuesday, July 15th. UBS Group lifted their price target on Sealed Air from $39.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Raymond James Financial restated a "strong-buy" rating on shares of Sealed Air in a research note on Tuesday, July 15th. Finally, Truist Financial lifted their price target on Sealed Air from $33.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $38.27.

Sealed Air Price Performance

Shares of NYSE:SEE traded up $0.33 on Monday, hitting $28.80. The company had a trading volume of 355,833 shares, compared to its average volume of 1,562,375. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 5.26. Sealed Air Corporation has a 52-week low of $22.78 and a 52-week high of $38.85. The business has a 50 day moving average of $31.50 and a 200 day moving average of $30.99. The company has a market cap of $4.23 billion, a PE ratio of 14.26, a PEG ratio of 2.60 and a beta of 1.33.

Sealed Air (NYSE:SEE - Get Free Report) last released its earnings results on Tuesday, May 6th. The industrial products company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.67 by $0.14. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.27 billion. Sealed Air had a return on equity of 65.49% and a net margin of 5.55%. The business's quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 earnings per share. As a group, equities analysts anticipate that Sealed Air Corporation will post 3.05 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, September 12th. Sealed Air's dividend payout ratio is presently 39.60%.

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.