Burney Co. Cuts Holdings in Smurfit Westrock Ltd (NYSE:SW)

Burney Co. decreased its stake in Smurfit Westrock Ltd (NYSE:SW) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,481 shares of the company’s stock after selling 330 shares during the period. Burney Co.’s holdings in Smurfit Westrock were worth $2,503,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in SW. AMF Tjanstepension AB purchased a new position in Smurfit Westrock in the third quarter worth $8,519,000. Czech National Bank bought a new position in shares of Smurfit Westrock during the 3rd quarter valued at about $4,967,000. SG Americas Securities LLC purchased a new position in shares of Smurfit Westrock during the 3rd quarter valued at about $843,000. Park Avenue Securities LLC bought a new stake in Smurfit Westrock in the 3rd quarter worth approximately $561,000. Finally, GAMMA Investing LLC purchased a new stake in Smurfit Westrock in the third quarter worth approximately $249,000. Hedge funds and other institutional investors own 83.38% of the company’s stock.

Smurfit Westrock Stock Performance

NYSE SW opened at $53.01 on Thursday. The stock has a market cap of $27.57 billion, a PE ratio of 294.52 and a beta of 1.03. Smurfit Westrock Ltd has a fifty-two week low of $38.55 and a fifty-two week high of $56.99. The stock has a 50 day simple moving average of $53.57. The company has a current ratio of 1.48, a quick ratio of 0.98 and a debt-to-equity ratio of 0.73.

Smurfit Westrock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Friday, November 15th were issued a $0.3025 dividend. This represents a $1.21 annualized dividend and a yield of 2.28%. The ex-dividend date was Friday, November 15th. Smurfit Westrock’s dividend payout ratio (DPR) is currently 672.26%.

Wall Street Analysts Forecast Growth

Several research firms have commented on SW. JPMorgan Chase & Co. lifted their price target on shares of Smurfit Westrock from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. Argus assumed coverage on shares of Smurfit Westrock in a research note on Thursday, December 5th. They issued a “buy” rating and a $62.00 price target for the company. Morgan Stanley raised their price objective on Smurfit Westrock from $60.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $58.00 target price on shares of Smurfit Westrock in a research note on Friday, November 15th. Finally, Citigroup raised their price target on Smurfit Westrock from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Smurfit Westrock presently has an average rating of “Moderate Buy” and a consensus target price of $60.56.

Insider Buying and Selling at Smurfit Westrock

In other news, insider Saverio Mayer sold 25,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 149,911 shares of the company’s stock, valued at approximately $8,221,119.24. This trade represents a 14.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.49% of the company’s stock.

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.