The Vanguard Group, Inc. recently announced the acquisition of new stake in Sealed Air Corp. (NYSE:SEE). The institutional investor has increased its shareholding in the Consumer Cyclical company by 0.55% to 16.37 million shares with purchase of 89657.0 shares. This fresh investment now brings its stake to 11.34% valued currently at $546.51 million. In addition, BlackRock Advisors LLC raised its holdings by 0.89 million to 10.73 million shares. And Harris Associates LP has lifted its position by 48.20% or 1.98 million shares – to 6.07 million shares.
With over 31.66 million Sealed Air Corp. (SEE) shares trading Friday and a closing price of $35.70 on the day, the dollar volume was approximately $1.13 billion. The shares have shown a negative half year performance of -11.70% and its price on 12/15/23 lost nearly -1.49%. Currently, there are 144.67M common shares owned by the public and among those 143.14M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 15 analysts who have offered their price forecasts for SEE have a consensus price objective of $39.64. The analysts have set the share’s price value over the next 12 months at a high of $49.00 and a low of $33.00. The average price target is 9.94% above its recent price level and a downside to the estimated low will see the stock lose -8.18% over that period. But an upside of 27.14% will see the stock hit the forecast high price target while median target price for the stock is $40.00.
Insiders at the company have transacted a total of 81 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 31 of these insider trades were purchases, accounting for 551,007 shares. Insider sales of the common stock occurred on 50 occasions, with total insider shares sold totaling 312,420 shares.
The top 3 mutual fund holders in Sealed Air Corp. are BlackRock Equity Dividend Fund, T Rowe Price Mid Cap Growth Fund, and Vanguard Total Stock Market ETF. BlackRock Equity Dividend Fund owns 7.49 million shares of the company’s stock, all valued at over $249.95 million. The company bought an additional 0.49 million shares recently to bring their total holdings to about 5.18% of the shares outstanding. T Rowe Price Mid Cap Growth Fund sold -0.3 million shares to see its total holdings shrink to 5.0 million shares valued at over $166.87 million and representing 3.46% of the shares outstanding. Vanguard Total Stock Market ETF bought 7384.0 shares to bring its total holdings to over 4.52 million shares at a value of $150.79 million. Vanguard Total Stock Market ETF now owns shares totaling to 3.13% of the shares outstanding.
Shares of Sealed Air Corp. (NYSE: SEE) opened at $36.28, up $0.04 from a prior closing price of $36.24. The company’s stock has a 5-day price change of 5.59% and 3.69% over the past three months. SEE shares are trading -28.43% year to date (YTD), with the 12-month market performance down to -32.14% lower. It has a 12-month low price of $28.50 and touched a high of $56.43 over the same period. SEE has an average intraday trading volume of 2.13 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.53%, 11.17%, and -8.12% respectively.
Institutional ownership of Sealed Air Corp. (NYSE: SEE) shares accounts for 94.44% of the company’s 144.67M shares outstanding. Mutual fund holders own 5.43%, while other institutional holders and individual stakeholders account for 54.28% and 40.64% respectively.
It has a market capitalization of $5.16B and a beta (3y monthly) value of 1.32. The stock’s trailing 12-month PE ratio is 16.77, while the earnings-per-share (ttm) stands at $2.13. The company has a PEG of 1.84 and a Quick Ratio of 0.75 with the debt-to-equity ratio at 12.16. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.60% over the week and 3.26% over the month.
Analysts forecast that Sealed Air Corp. (SEE) will achieve an EPS of $0.63 for the current quarter, $0.63 for the next quarter and $3.04 for 2024. The lowest estimate earnings-per-share for the quarter is $0.58 while analysts give the company a high EPS estimate of $0.74. Comparatively, EPS for the current quarter was $0.99 a year ago. Earnings per share for the fiscal year are expected to decrease by -28.71%, and 2.66% over the next financial year. EPS should shrink at an annualized rate of 9.12% over the next five years, compared to 30.04% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 15 brokerage firm advisors rate Sealed Air Corp. (SEE) as a “Moderate Buy” at a consensus score of 2.13. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 8 of the 15 advise that investors “hold,” and 0 rated it as a “Sell.”
