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

Covestor Ltd acquired a new stake in Smurfit Westrock Ltd (NYSE:SW) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 2,120 shares of the company’s stock, valued at approximately $105,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AMF Tjanstepension AB acquired a new position in Smurfit Westrock in the third quarter valued at about $8,519,000. Czech National Bank bought a new position in Smurfit Westrock during the 3rd quarter worth approximately $4,967,000. SG Americas Securities LLC acquired a new position in Smurfit Westrock during the third quarter valued at approximately $843,000. Park Avenue Securities LLC acquired a new stake in Smurfit Westrock in the third quarter worth $561,000. Finally, GAMMA Investing LLC bought a new position in shares of Smurfit Westrock during the third quarter worth $249,000. 83.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on SW. Wells Fargo & Company reduced their target price on Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, October 7th. Royal Bank of Canada upgraded Smurfit Westrock from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $52.00 to $58.00 in a research report on Thursday, October 31st. Citigroup started coverage on shares of Smurfit Westrock in a report on Wednesday, October 23rd. They set a “buy” rating and a $57.00 target price on the stock. Jefferies Financial Group reiterated a “hold” rating and issued a $52.00 price target on shares of Smurfit Westrock in a report on Monday, July 29th. Finally, Morgan Stanley assumed coverage on shares of Smurfit Westrock in a report on Friday, July 19th. They set an “overweight” rating and a $60.00 price objective on the stock. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.43.

Smurfit Westrock Trading Down 3.1 %

Shares of SW opened at $50.67 on Wednesday. The firm has a market capitalization of $26.32 billion, a PE ratio of 281.50 and a beta of 1.04. Smurfit Westrock Ltd has a 12 month low of $38.55 and a 12 month high of $54.32. The stock’s fifty day simple moving average is $47.18. 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 Dividend Announcement

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

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.