Sycomore Asset Management Buys Shares of 551,385 Smurfit Westrock Ltd (NYSE:SW)

Sycomore Asset Management purchased a new position in shares of Smurfit Westrock Ltd (NYSE:SW) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 551,385 shares of the company’s stock, valued at approximately $27,249,000. Smurfit Westrock comprises approximately 4.0% of Sycomore Asset Management’s holdings, making the stock its 4th biggest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. acquired a new position in Smurfit Westrock during the 3rd quarter worth approximately $62,832,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Smurfit Westrock in the 3rd quarter valued at approximately $51,430,000. Patten & Patten Inc. TN acquired a new position in shares of Smurfit Westrock in the 3rd quarter valued at approximately $49,538,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Smurfit Westrock in the 3rd quarter valued at approximately $39,627,000. Finally, Principal Financial Group Inc. acquired a new position in shares of Smurfit Westrock in the 3rd quarter valued at approximately $29,716,000. Hedge funds and other institutional investors own 83.38% of the company’s stock.

Smurfit Westrock Trading Down 1.5 %

SW stock traded down $0.78 during mid-day trading on Thursday, hitting $50.21. The stock had a trading volume of 1,287,215 shares, compared to its average volume of 5,207,055. The company has a quick ratio of 0.98, a current ratio of 1.48 and a debt-to-equity ratio of 0.73. Smurfit Westrock Ltd has a 1-year low of $38.55 and a 1-year high of $54.32. The business’s fifty day moving average price is $47.39. The stock has a market cap of $26.12 billion, a PE ratio of 279.74 and a beta of 1.04.

Smurfit Westrock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 15th will be paid a dividend of $0.3025 per share. The ex-dividend date is Friday, November 15th. This represents a $1.21 annualized dividend and a yield of 2.41%. Smurfit Westrock’s payout ratio is 672.26%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SW. Royal Bank of Canada upgraded Smurfit Westrock from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $52.00 to $58.00 in a report on Thursday, October 31st. Citigroup started coverage on Smurfit Westrock in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $57.00 price target for the company. Morgan Stanley increased their price target on Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday. Jefferies Financial Group restated a “hold” rating and issued a $52.00 price objective on shares of Smurfit Westrock in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. reduced their target price on Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Smurfit Westrock presently has an average rating of “Moderate Buy” and an average price target of $58.00.

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.