Citigroup Raises Smurfit Westrock (NYSE:SW) Price Target to $62.00

Smurfit Westrock (NYSE:SW) had its price objective hoisted by Citigroup from $61.00 to $62.00 in a report published on Monday,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also commented on the company. JPMorgan Chase & Co. lifted their price target on Smurfit Westrock from $65.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. Wells Fargo & Company lowered their target price on Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday, October 7th. Royal Bank of Canada restated an “outperform” rating and set a $58.00 price target on shares of Smurfit Westrock in a research report on Friday, November 15th. Argus began coverage on shares of Smurfit Westrock in a research report on Thursday, December 5th. They issued a “buy” rating and a $62.00 price objective on the stock. Finally, Morgan Stanley increased their target price on shares of Smurfit Westrock from $60.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.56.

Smurfit Westrock Stock Performance

Shares of SW stock opened at $53.35 on Monday. Smurfit Westrock has a 52-week low of $38.55 and a 52-week high of $56.99. The stock has a 50-day moving average price of $53.19. The company has a quick ratio of 0.98, a current ratio of 1.48 and a debt-to-equity ratio of 0.73. The company has a market cap of $27.75 billion, a P/E ratio of 296.41 and a beta of 1.03.

Smurfit Westrock Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Friday, November 15th were paid a $0.3025 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.21 annualized dividend and a yield of 2.27%. Smurfit Westrock’s dividend payout ratio is currently 672.22%.

Insider Transactions at Smurfit Westrock

In other Smurfit Westrock news, insider Saverio Mayer sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $54.84, for a total value of $1,371,000.00. Following the completion of the transaction, the insider now owns 149,911 shares of the company’s stock, valued at $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 is available at this hyperlink. Insiders own 0.49% of the company’s stock.

Institutional Trading of Smurfit Westrock

A number of hedge funds have recently made changes to their positions in SW. State Street Corp bought a new position in Smurfit Westrock during the third quarter valued at approximately $967,582,000. Geode Capital Management LLC purchased a new stake in shares of Smurfit Westrock in the 3rd quarter valued at $627,244,000. FMR LLC bought a new position in shares of Smurfit Westrock during the 3rd quarter valued at $431,653,000. Mizuho Securities USA LLC purchased a new position in Smurfit Westrock in the 3rd quarter worth $386,712,000. Finally, Soros Fund Management LLC bought a new stake in Smurfit Westrock in the third quarter worth $340,848,000. 83.38% of the stock is owned by institutional investors.

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.