Millennium Management LLC Decreases Holdings in Smurfit Westrock Ltd (NYSE:SW)

Millennium Management LLC decreased its position in shares of Smurfit Westrock Ltd (NYSE:SW - Free Report) by 90.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 175,090 shares of the company's stock after selling 1,729,841 shares during the period. Millennium Management LLC's holdings in Smurfit Westrock were worth $9,430,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SW. Vanguard Group Inc. raised its holdings in shares of Smurfit Westrock by 1.1% in the 4th 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 in the last quarter. Norges Bank bought a new stake in shares of Smurfit Westrock in the 4th quarter valued at about $1,300,041,000. Capital Research Global Investors boosted its holdings in shares of 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 in the last quarter. Geode Capital Management LLC grew its position in shares of Smurfit Westrock by 12.5% in the 4th quarter. Geode Capital Management LLC now owns 14,328,052 shares of the company's stock worth $769,977,000 after buying an additional 1,594,939 shares during the last quarter. Finally, FIL Ltd grew its stake in Smurfit Westrock by 68.2% during the 4th quarter. FIL Ltd now owns 10,962,433 shares of the company's stock worth $590,853,000 after buying an additional 4,444,704 shares during the last quarter. 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 the business's stock in a transaction on Tuesday, May 6th. The shares were bought at an average price of $39.21 per share, with a total value 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.49% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SW shares. Morgan Stanley cut their price objective on shares of Smurfit Westrock from $66.00 to $64.00 and set an "overweight" rating on the stock in a report on Tuesday, March 11th. Wells Fargo & Company reduced their target price on Smurfit Westrock from $53.00 to $43.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Truist Financial cut their price objective on Smurfit Westrock from $62.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Barclays decreased their target price on Smurfit Westrock from $68.00 to $64.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Finally, Royal Bank of Canada reduced their price target on shares of Smurfit Westrock from $57.00 to $56.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.20.

Smurfit Westrock Trading Down 1.7%

Shares of SW stock traded down $0.74 during trading on Friday, hitting $43.17. 760,371 shares of the stock traded hands, compared to its average volume of 4,577,016. The firm has a market capitalization of $22.53 billion, a P/E ratio of 78.48 and a beta of 1.00. Smurfit Westrock Ltd has a 52-week low of $37.01 and a 52-week high of $56.99. The firm's fifty day moving average price is $42.85 and its 200-day moving average price is $49.05. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.37 and a quick ratio of 0.89.

Smurfit Westrock (NYSE:SW - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.08. The business had revenue of $7.66 billion for the quarter, compared to analysts' expectations of $7.41 billion. Smurfit Westrock had a return on equity of 6.16% and a net margin of 0.63%. Smurfit Westrock's revenue was up 161.3% on a year-over-year basis. As a group, research analysts forecast that Smurfit Westrock Ltd will post 3.25 earnings per share for the current fiscal year.

Smurfit Westrock Announces Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, June 18th. Investors of record on Monday, May 19th will be issued a $0.4308 dividend. This represents a yield of 3.7%. The ex-dividend date of this dividend is Friday, May 16th. Smurfit Westrock's dividend payout ratio (DPR) is 140.98%.

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.