Smurfit Westrock PLC $SW Shares Sold by Raiffeisen Bank International AG

Raiffeisen Bank International AG trimmed its holdings in shares of Smurfit Westrock PLC (NYSE:SW) by 17.2% in the second quarter, HoldingsChannel reports. The firm owned 57,062 shares of the company’s stock after selling 11,851 shares during the period. Raiffeisen Bank International AG’s holdings in Smurfit Westrock were worth $2,424,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SW. Nuveen LLC acquired a new position in Smurfit Westrock in the 1st quarter valued at about $1,051,299,000. Ruffer LLP acquired a new position in shares of Smurfit Westrock in the second quarter valued at approximately $196,095,000. Orbis Allan Gray Ltd lifted its stake in shares of Smurfit Westrock by 74.8% during the first quarter. Orbis Allan Gray Ltd now owns 10,114,213 shares of the company’s stock valued at $455,746,000 after buying an additional 4,329,653 shares during the period. JPMorgan Chase & Co. boosted its position in Smurfit Westrock by 39.3% during the first quarter. JPMorgan Chase & Co. now owns 6,100,067 shares of the company’s stock worth $274,869,000 after acquiring an additional 1,721,889 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Smurfit Westrock by 19.7% during the second quarter. Bank of New York Mellon Corp now owns 8,500,852 shares of the company’s stock worth $366,812,000 after acquiring an additional 1,399,464 shares during the last quarter. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SW shares. Seaport Res Ptn upgraded Smurfit Westrock from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Smurfit Westrock in a report on Wednesday, October 8th. Morgan Stanley restated an “overweight” rating and issued a $52.00 target price on shares of Smurfit Westrock in a report on Monday, November 3rd. Barclays dropped their price target on shares of Smurfit Westrock from $63.00 to $47.00 and set an “overweight” rating for the company in a research report on Monday, November 10th. Finally, Truist Financial cut their price target on shares of Smurfit Westrock from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $55.30.

Smurfit Westrock Price Performance

Shares of NYSE SW opened at $33.92 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.48 and a quick ratio of 0.95. Smurfit Westrock PLC has a 1-year low of $33.67 and a 1-year high of $56.99. The company has a market capitalization of $17.71 billion, a price-to-earnings ratio of 23.72 and a beta of 1.11. The business has a 50-day moving average of $40.91 and a 200-day moving average of $43.36.

Smurfit Westrock (NYSE:SW) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.10). Smurfit Westrock had a net margin of 2.40% and a return on equity of 6.21%. The firm had revenue of $8 billion during the quarter, compared to analyst estimates of $7.89 billion. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities analysts anticipate that Smurfit Westrock PLC will post 3.25 EPS for the current fiscal year.

Smurfit Westrock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Friday, November 14th will be given a $0.4308 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.72 annualized dividend and a dividend yield of 5.1%. Smurfit Westrock’s payout ratio is presently 120.28%.

Smurfit Westrock Company 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.