Smurfit Westrock (NYSE:SW) Price Target Raised to $62.00

Smurfit Westrock (NYSE:SW) had its price objective raised by Citigroup from $61.00 to $62.00 in a research report released on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also recently weighed in on SW. Barclays increased their price objective on Smurfit Westrock from $60.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Argus began coverage on Smurfit Westrock in a research report on Thursday, December 5th. They set a “buy” rating and a $62.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on Smurfit Westrock from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. Wells Fargo & Company reduced their price objective on Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, October 7th. Finally, Morgan Stanley increased their price objective on Smurfit Westrock from $60.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $60.56.

Smurfit Westrock Stock Down 0.3 %

NYSE:SW opened at $51.93 on Monday. The firm has a 50-day simple moving average of $53.53. Smurfit Westrock has a twelve month low of $38.55 and a twelve month high of $56.99. The stock has a market cap of $27.01 billion, a PE ratio of 288.52 and a beta of 1.03. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Friday, November 15th were given a $0.3025 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.33%. Smurfit Westrock’s dividend payout ratio is currently 672.22%.

Insider Activity

In other news, insider Saverio Mayer sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was 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 in the company, valued at $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 available through this hyperlink. 0.49% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SW. State Street Corp purchased a new position in Smurfit Westrock during the third quarter valued at $967,582,000. Geode Capital Management LLC bought a new stake in shares of Smurfit Westrock in the 3rd quarter worth $627,244,000. FMR LLC bought a new stake in shares of Smurfit Westrock in the 3rd quarter worth $431,653,000. Mizuho Securities USA LLC bought a new stake in shares of Smurfit Westrock in the 3rd quarter worth $386,712,000. Finally, Soros Fund Management LLC bought a new stake in shares of Smurfit Westrock in the 3rd quarter worth $340,848,000. Hedge funds and other institutional investors own 83.38% 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.