Geode Capital Management LLC Invests $627.24 Million in Smurfit Westrock Ltd (NYSE:SW)

Geode Capital Management LLC purchased a new stake in Smurfit Westrock Ltd (NYSE:SW) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 12,733,113 shares of the company’s stock, valued at approximately $627,244,000. Geode Capital Management LLC owned approximately 2.45% of Smurfit Westrock as of its most recent SEC filing.

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

Smurfit Westrock Trading Down 0.1 %

Smurfit Westrock stock opened at $53.44 on Friday. The company has a current ratio of 1.48, a quick ratio of 0.98 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $27.80 billion, a PE ratio of 296.91 and a beta of 1.04. The stock’s 50-day moving average price is $50.57. Smurfit Westrock Ltd has a 12-month low of $38.55 and a 12-month high of $56.99.

Smurfit Westrock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 15th will be issued a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Friday, November 15th. Smurfit Westrock’s dividend payout ratio is presently 672.26%.

Insider Buying and Selling

In other Smurfit Westrock news, insider Saverio Mayer sold 25,000 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 149,911 shares of the company’s stock, valued at $8,221,119.24. This trade represents a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.49% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Wells Fargo & Company reduced their target price on Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating for the company in a report on Monday, October 7th. Redburn Atlantic assumed coverage on Smurfit Westrock in a report on Friday, August 23rd. They issued a “buy” rating and a $60.00 price objective on the stock. 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 for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $58.00 price target on shares of Smurfit Westrock in a research note on Friday, November 15th. Finally, Argus assumed coverage on shares of Smurfit Westrock in a research note on Thursday, December 5th. They set a “buy” rating and a $62.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Smurfit Westrock presently has an average rating of “Moderate Buy” and a consensus target price of $60.00.

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.