DAVENPORT & Co LLC Raises Stock Holdings in Smurfit Westrock Ltd (NYSE:SW)

DAVENPORT & Co LLC increased its position in Smurfit Westrock Ltd (NYSE:SW) by 0.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,898 shares of the company’s stock after acquiring an additional 299 shares during the period. DAVENPORT & Co LLC’s holdings in Smurfit Westrock were worth $3,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of SW. AMF Tjanstepension AB purchased a new position in shares of Smurfit Westrock during the 3rd quarter valued at about $8,519,000. SG Americas Securities LLC purchased a new position in shares of Smurfit Westrock during the 3rd quarter valued at about $843,000. Park Avenue Securities LLC purchased a new position in shares of Smurfit Westrock in the 3rd quarter valued at about $561,000. Czech National Bank purchased a new position in shares of Smurfit Westrock in the 3rd quarter valued at about $4,967,000. Finally, GAMMA Investing LLC purchased a new position in shares of Smurfit Westrock in the 3rd quarter valued at about $249,000. Hedge funds and other institutional investors own 83.38% of the company’s stock.

Analysts Set New Price Targets

SW has been the subject of several recent analyst reports. Truist Financial initiated coverage on Smurfit Westrock in a research note on Tuesday, January 21st. They issued a “buy” rating and a $62.00 price target for the company. JPMorgan Chase & Co. lifted their price target on Smurfit Westrock from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, November 29th. Citigroup lifted their price target on Smurfit Westrock from $61.00 to $62.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Barclays lifted their price objective on Smurfit Westrock from $60.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Morgan Stanley lifted their price objective on Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $60.70.

Smurfit Westrock Trading Up 0.6 %

Shares of Smurfit Westrock stock opened at $53.84 on Wednesday. The stock has a market cap of $28.00 billion, a P/E ratio of 299.10 and a beta of 1.02. The stock’s 50 day simple moving average is $53.75 and its 200-day simple moving average is $49.30. Smurfit Westrock Ltd has a 1-year low of $38.55 and a 1-year high of $56.99. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.48 and a quick ratio of 0.98.

Smurfit Westrock Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.4308 per share. This is a boost from Smurfit Westrock’s previous quarterly dividend of $0.30. This represents a $1.72 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Friday, February 14th. Smurfit Westrock’s payout ratio is currently 672.26%.

Insider Transactions at Smurfit Westrock

In other news, insider Saverio Mayer sold 25,000 shares of Smurfit Westrock stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $54.84, for a total transaction of $1,371,000.00. Following the sale, the insider now owns 149,911 shares of the company’s stock, valued at approximately $8,221,119.24. The trade was a 14.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.49% of the company’s stock.

Smurfit Westrock Profile

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.