Brandywine Global Investment Management LLC has significantly increased its stake in Sealed Air Corporation (NYSE: SEE), boosting its ownership by 24.1% during the second quarter of 2023. According to the firm’s latest filing with the Securities and Exchange Commission (SEC), Brandywine Global now holds 633,465 shares, representing a value of approximately $19.7 million.
Several other institutional investors have also made notable adjustments to their positions in Sealed Air. Impax Asset Management Group plc raised its holdings by 18.6%, now owning 680,824 shares valued at $21.1 million. Alberta Investment Management Corp made an even larger move, increasing its stake by 43.3% to 2,287,300 shares, valued at roughly $71 million. Russell Investments Group Ltd. and Public Sector Pension Investment Board also reported increases, indicating a general trend of growing institutional interest in Sealed Air.
Market Analyst Insights
Equities research analysts have offered varied perspectives on Sealed Air’s stock. Notably, JPMorgan Chase & Co. raised their price target on the stock from $36.00 to $38.00 and assigned an “overweight” rating. Meanwhile, Raymond James Financial has increased its price objective to $50.00, up from a previous target of $39.00. Overall, the consensus rating for Sealed Air currently stands at “Moderate Buy,” with an average price target of $42.83.
The stock opened at $42.69 on the most recent trading day, with a 52-week range between $22.78 and $44.27. The company maintains a market capitalization of $6.28 billion and sports a P/E ratio of 21.56.
Financial Performance and Future Outlook
Sealed Air recently reported its earnings results for the third quarter on November 4, 2023. The company posted earnings per share (EPS) of $0.87, exceeding analyst expectations of $0.68. Total revenue for the quarter reached $1.35 billion, surpassing forecasts of $1.31 billion. The firm has set its fiscal year 2025 EPS guidance between $3.250 and $3.350.
Additionally, Sealed Air announced a quarterly dividend of $0.20 per share, set to be paid on December 19, 2023, to shareholders of record on December 5, 2023. This dividend reflects an annualized payout of $0.80, yielding 1.9% and indicating a payout ratio of 25.97%.
Sealed Air Corporation specializes in packaging solutions across various regions, including the Americas, Europe, and Asia. The company operates in two primary segments—Food and Protective—providing advanced packaging materials and automation solutions to enhance food safety and reduce waste.
As institutional investors continue to show robust interest in Sealed Air, the company’s strategic initiatives and solid financial performance could further bolster its market position in the coming quarters.
