Hsbc Holdings PLC Reduces Position in Sealed Air Corporation $SEE

Key Points

• Hsbc Holdings PLC has reduced its stake in Sealed Air Corporation by 96.3%, now holding only 40,440 shares valued at approximately $1.165 million.
• Several analysts have increased their price targets for Sealed Air, with Wells Fargo raising it to $43.00 and Citigroup to $37.00, indicating a positive outlook for the stock.
• Sealed Air recently declared a quarterly dividend of $0.20 per share, which reflects an annualized yield of 2.5% and a payout ratio of 40.40%.

Hsbc Holdings PLC lessened its holdings in Sealed Air Corporation (NYSE:SEE - Free Report) by 96.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,440 shares of the industrial products company's stock after selling 1,045,318 shares during the period. Hsbc Holdings PLC's holdings in Sealed Air were worth $1,165,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. GAMMA Investing LLC boosted its position in Sealed Air by 182.4% during the first quarter. GAMMA Investing LLC now owns 3,736 shares of the industrial products company's stock worth $108,000 after acquiring an additional 2,413 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in Sealed Air by 7.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 56,323 shares of the industrial products company's stock worth $1,628,000 after acquiring an additional 3,664 shares during the last quarter. Manning & Napier Advisors LLC boosted its position in Sealed Air by 200.0% during the first quarter. Manning & Napier Advisors LLC now owns 60,000 shares of the industrial products company's stock worth $1,734,000 after acquiring an additional 40,000 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Sealed Air by 9.4% during the first quarter. Russell Investments Group Ltd. now owns 105,651 shares of the industrial products company's stock worth $3,053,000 after acquiring an additional 9,052 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its position in Sealed Air by 43.1% during the first quarter. Public Sector Pension Investment Board now owns 519,339 shares of the industrial products company's stock worth $15,009,000 after purchasing an additional 156,309 shares during the last quarter. Hedge funds and other institutional investors own 94.40% of the company's stock.

Analysts Set New Price Targets

SEE has been the subject of several research analyst reports. Wall Street Zen raised shares of Sealed Air from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Wells Fargo & Company upped their price target on shares of Sealed Air from $39.00 to $43.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. UBS Group upped their price target on shares of Sealed Air from $39.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Citigroup upped their price target on shares of Sealed Air from $33.00 to $37.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Finally, Truist Financial upped their price target on shares of Sealed Air from $33.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.80.

Sealed Air Trading Up 0.5%

Shares of Sealed Air stock traded up $0.16 during trading hours on Wednesday, hitting $32.19. The company's stock had a trading volume of 860,809 shares, compared to its average volume of 1,571,973. Sealed Air Corporation has a 1-year low of $22.78 and a 1-year high of $38.85. The business has a fifty day moving average of $31.16 and a 200 day moving average of $30.45. The company has a market capitalization of $4.73 billion, a PE ratio of 16.25, a P/E/G ratio of 2.53 and a beta of 1.33. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 4.18.

Sealed Air (NYSE:SEE - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.17. Sealed Air had a net margin of 5.46% and a return on equity of 60.61%. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the firm posted $0.83 EPS. The firm's quarterly revenue was down .7% on a year-over-year basis. Sealed Air has set its FY 2025 guidance at 2.900-3.300 EPS. As a group, equities analysts forecast that Sealed Air Corporation will post 3.05 EPS for the current year.

Sealed Air Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, September 12th. Sealed Air's payout ratio is presently 40.40%.

Sealed Air 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.