Covestor Ltd Takes $105,000 Position in Smurfit Westrock Ltd (NYSE:SW)

Covestor Ltd bought a new position in shares of Smurfit Westrock Ltd (NYSE:SW) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,120 shares of the company’s stock, valued at approximately $105,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SW. Mather Group LLC. acquired a new stake in shares of Smurfit Westrock during the 3rd quarter worth approximately $25,000. CVA Family Office LLC acquired a new stake in Smurfit Westrock during the third quarter worth $26,000. ORG Wealth Partners LLC bought a new stake in Smurfit Westrock in the 3rd quarter valued at $32,000. Waldron Private Wealth LLC acquired a new position in shares of Smurfit Westrock in the 3rd quarter valued at $35,000. Finally, Cromwell Holdings LLC bought a new position in shares of Smurfit Westrock during the 3rd quarter worth about $42,000. 83.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SW has been the topic of a number of analyst reports. Royal Bank of Canada raised shares of Smurfit Westrock from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $52.00 to $58.00 in a research note on Thursday, October 31st. Redburn Atlantic started coverage on Smurfit Westrock in a research report on Friday, August 23rd. They issued a “buy” rating and a $60.00 price target on the stock. Jefferies Financial Group reissued a “hold” rating and set a $52.00 price objective on shares of Smurfit Westrock in a report on Monday, July 29th. JPMorgan Chase & Co. lowered their target price on shares of Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Finally, Citigroup initiated coverage on shares of Smurfit Westrock in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $57.00 target price for the company. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $57.43.

Smurfit Westrock Price Performance

SW opened at $50.67 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.48 and a quick ratio of 0.98. The company has a market capitalization of $26.32 billion, a PE ratio of 281.50 and a beta of 1.04. The firm’s 50 day moving average is $47.18. Smurfit Westrock Ltd has a one year low of $38.55 and a one year high of $54.32.

Smurfit Westrock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 15th will be given a $0.3025 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.21 dividend on an annualized basis and a yield of 2.39%. Smurfit Westrock’s payout ratio is 672.22%.

About Smurfit Westrock

Smurfit Westrock Plc, together with its subsidiaries, manufactures, distributes, and sells containerboard, corrugated containers, and other paper-based packaging products in Ireland and internationally. The company produces containerboard that it converts into corrugated containers or sells to third parties, as well as produces other types of paper, such as consumer packaging board, sack paper, graphic paper, solid board and graphic board, and other paper-based packaging products, such as consumer packaging, solid board packaging, paper sacks, and other packaging products, including bag-in-box.