Cibc World Markets Corp Grows Holdings in Smurfit Westrock Ltd (NYSE:SW)

Cibc World Markets Corp increased its stake in Smurfit Westrock Ltd (NYSE:SW) by 426.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 360,766 shares of the company’s stock after acquiring an additional 292,268 shares during the quarter. Cibc World Markets Corp’s holdings in Smurfit Westrock were worth $19,431,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in SW. State Street Corp bought a new stake in shares of Smurfit Westrock in the 3rd quarter worth about $967,582,000. Geode Capital Management LLC bought a new stake in Smurfit Westrock in the third quarter valued at about $627,244,000. FMR LLC acquired a new stake in Smurfit Westrock during the third quarter valued at approximately $431,653,000. Soros Fund Management LLC bought a new position in Smurfit Westrock during the 3rd quarter worth approximately $340,848,000. Finally, Victory Capital Management Inc. grew its position in shares of Smurfit Westrock by 4,456.7% in the 4th quarter. Victory Capital Management Inc. now owns 5,491,092 shares of the company’s stock worth $295,750,000 after acquiring an additional 5,370,587 shares in the last quarter. 83.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Alvaro Henao sold 4,000 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $53.90, for a total transaction of $215,600.00. Following the completion of the sale, the insider now directly owns 44,361 shares of the company’s stock, valued at $2,391,057.90. This trade represents a 8.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ken Bowles sold 24,225 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $55.06, for a total value of $1,333,828.50. Following the sale, the insider now directly owns 111,458 shares in the company, valued at $6,136,877.48. This trade represents a 17.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on SW. Morgan Stanley lowered their target price on shares of Smurfit Westrock from $66.00 to $64.00 and set an “overweight” rating for the company in a research note on Tuesday, March 11th. Barclays boosted their price objective on shares of Smurfit Westrock from $60.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Truist Financial started coverage on shares of Smurfit Westrock in a report on Tuesday, January 21st. They issued a “buy” rating and a $62.00 target price on the stock. Argus began coverage on Smurfit Westrock in a report on Thursday, December 5th. They set a “buy” rating and a $62.00 target price for the company. Finally, JPMorgan Chase & Co. raised their price target on Smurfit Westrock from $65.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Smurfit Westrock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.70.

Smurfit Westrock Stock Up 2.3 %

Smurfit Westrock stock opened at $45.29 on Tuesday. Smurfit Westrock Ltd has a 52 week low of $38.55 and a 52 week high of $56.99. The stock has a market cap of $23.64 billion, a price-to-earnings ratio of 82.35 and a beta of 0.99. The company’s 50-day moving average price is $51.79 and its two-hundred day moving average price is $50.69. The company has a current ratio of 1.37, a quick ratio of 0.89 and a debt-to-equity ratio of 0.72.

Smurfit Westrock (NYSE:SW) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.33). Smurfit Westrock had a net margin of 0.63% and a return on equity of 6.16%. On average, analysts expect that Smurfit Westrock Ltd will post 3.25 EPS for the current fiscal year.

Smurfit Westrock Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Friday, February 14th will be issued a $0.4308 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 3.80%. This is an increase from Smurfit Westrock’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, February 14th. Smurfit Westrock’s dividend payout ratio is presently 312.73%.

Smurfit Westrock Company 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.