Teachers Retirement System of The State of Kentucky Takes Position in Smurfit Westrock Ltd (NYSE:SW)

Teachers Retirement System of The State of Kentucky acquired a new position in shares of Smurfit Westrock Ltd (NYSE:SW) in the third quarter, Holdings Channel reports. The firm acquired 20,382 shares of the company’s stock, valued at approximately $1,007,000.

A number of other institutional investors also recently added to or reduced their stakes in SW. State Street Corp acquired a new position in shares of Smurfit Westrock during the third quarter worth $967,582,000. Geode Capital Management LLC acquired a new position in Smurfit Westrock during the 3rd quarter valued at about $627,244,000. FMR LLC acquired a new position in Smurfit Westrock during the 3rd quarter valued at about $431,653,000. Mizuho Securities USA LLC acquired a new stake in Smurfit Westrock in the third quarter worth about $386,712,000. Finally, Soros Fund Management LLC purchased a new stake in shares of Smurfit Westrock during the third quarter worth about $340,848,000. Institutional investors own 83.38% of the company’s stock.

Insider Buying and Selling at Smurfit Westrock

In other Smurfit Westrock news, insider Saverio Mayer sold 25,000 shares of Smurfit Westrock stock in a transaction 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 approximately $8,221,119.24. The trade was a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.49% of the stock is currently owned by corporate insiders.

Smurfit Westrock Stock Performance

NYSE SW opened at $51.74 on Thursday. The stock has a market cap of $26.91 billion, a price-to-earnings ratio of 287.46 and a beta of 1.04. The company’s 50-day moving average is $51.14. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.48 and a quick ratio of 0.98. Smurfit Westrock Ltd has a fifty-two week low of $38.55 and a fifty-two week high of $56.99.

Smurfit Westrock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Friday, November 15th were given a dividend of $0.3025 per share. This represents a $1.21 annualized dividend and a yield of 2.34%. The ex-dividend date was Friday, November 15th. Smurfit Westrock’s dividend payout ratio is currently 672.22%.

Analyst Upgrades and Downgrades

SW has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their target price on shares of Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, October 7th. Morgan Stanley lifted their price objective on shares of Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Argus initiated coverage on Smurfit Westrock in a research report on Thursday, December 5th. They issued a “buy” rating and a $62.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $58.00 target price on shares of Smurfit Westrock in a research note on Friday, November 15th. Finally, Barclays boosted their price target on Smurfit Westrock from $60.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Two equities research 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 price target 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.