Bank of America Corp DE Has $365.38 Million Stock Holdings in Smurfit Westrock Ltd (NYSE:SW)

Bank of America Corp DE boosted its stake in shares of Smurfit Westrock Ltd (NYSE:SW - Free Report) by 9.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,783,941 shares of the company's stock after buying an additional 558,417 shares during the quarter. Bank of America Corp DE owned 1.30% of Smurfit Westrock worth $365,383,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Smurfit Westrock by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 78,871,259 shares of the company's stock valued at $4,249,613,000 after purchasing an additional 820,362 shares during the period. Norges Bank acquired a new position in Smurfit Westrock in the fourth quarter valued at $1,300,041,000. Capital Research Global Investors increased its stake in Smurfit Westrock by 1.8% in the 4th quarter. Capital Research Global Investors now owns 18,439,852 shares of the company's stock valued at $993,170,000 after buying an additional 318,806 shares during the period. Geode Capital Management LLC increased its stake in Smurfit Westrock by 12.5% in the 4th quarter. Geode Capital Management LLC now owns 14,328,052 shares of the company's stock valued at $769,977,000 after buying an additional 1,594,939 shares during the period. Finally, FIL Ltd increased its stake in Smurfit Westrock by 68.2% in the 4th quarter. FIL Ltd now owns 10,962,433 shares of the company's stock valued at $590,853,000 after buying an additional 4,444,704 shares during the period. Hedge funds and other institutional investors own 83.38% of the company's stock.

Insiders Place Their Bets

In other news, Director Irial Finan purchased 15,180 shares of Smurfit Westrock stock in a transaction on Tuesday, May 6th. The shares were purchased at an average cost of $39.21 per share, for a total transaction of $595,207.80. Following the completion of the transaction, the director now directly owns 54,893 shares in the company, valued at approximately $2,152,354.53. This represents a 38.22% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alvaro Henao sold 4,000 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $53.90, for a total value of $215,600.00. Following the completion of the sale, the insider now owns 44,361 shares of the company's stock, valued at approximately $2,391,057.90. This trade represents a 8.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.49% of the stock is owned by company insiders.

Smurfit Westrock Price Performance

SW stock traded up $2.61 during trading on Monday, hitting $44.51. The stock had a trading volume of 2,540,873 shares, compared to its average volume of 4,666,149. The stock has a market cap of $23.24 billion, a price-to-earnings ratio of 80.88 and a beta of 1.00. Smurfit Westrock Ltd has a 1-year low of $37.01 and a 1-year high of $56.99. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.89 and a current ratio of 1.37. The company's 50 day moving average price is $42.84 and its two-hundred day moving average price is $49.55.

Smurfit Westrock (NYSE:SW - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.08. Smurfit Westrock had a net margin of 0.63% and a return on equity of 6.16%. The firm had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.41 billion. The company's revenue for the quarter was up 161.3% on a year-over-year basis. On average, sell-side analysts forecast that Smurfit Westrock Ltd will post 3.25 EPS for the current fiscal year.

Analyst Ratings Changes

SW has been the topic of several recent research reports. Wells Fargo & Company dropped their price objective on shares of Smurfit Westrock from $53.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Royal Bank of Canada dropped their price objective on shares of Smurfit Westrock from $57.00 to $56.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Morgan Stanley decreased their target price on shares of Smurfit Westrock from $66.00 to $64.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 11th. Finally, Truist Financial decreased their target price on shares of Smurfit Westrock from $62.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $58.60.

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.