Millennium Management LLC Has $9.43 Million Stock Position in Smurfit Westrock Ltd (NYSE:SW)

Millennium Management LLC lessened its holdings in shares of Smurfit Westrock Ltd (NYSE:SW - Free Report) by 90.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 175,090 shares of the company's stock after selling 1,729,841 shares during the quarter. Millennium Management LLC's holdings in Smurfit Westrock were worth $9,430,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SW. Vanguard Group Inc. boosted its holdings in shares of 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 buying an additional 820,362 shares during the period. Norges Bank acquired a new position in Smurfit Westrock in the 4th quarter worth $1,300,041,000. Capital Research Global Investors increased its holdings in Smurfit Westrock by 1.8% during the 4th quarter. Capital Research Global Investors now owns 18,439,852 shares of the company's stock worth $993,170,000 after purchasing an additional 318,806 shares in the last quarter. Geode Capital Management LLC raised its stake 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 valued at $769,977,000 after purchasing an additional 1,594,939 shares during the period. Finally, FIL Ltd lifted its holdings in shares of Smurfit Westrock by 68.2% in the fourth quarter. FIL Ltd now owns 10,962,433 shares of the company's stock valued at $590,853,000 after purchasing an additional 4,444,704 shares in the last quarter. 83.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SW has been the subject of a number of research reports. Morgan Stanley decreased their price objective on Smurfit Westrock from $66.00 to $64.00 and set an "overweight" rating for the company in a report on Tuesday, March 11th. Wells Fargo & Company lowered 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 report on Tuesday, April 8th. Barclays decreased their target price on shares of Smurfit Westrock from $68.00 to $64.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Truist Financial cut their price target 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. Finally, Royal Bank of Canada decreased their price objective on Smurfit Westrock from $57.00 to $56.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $58.20.

Smurfit Westrock Stock Down 1.6%

Smurfit Westrock stock opened at $43.78 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.37 and a quick ratio of 0.89. The company's 50-day moving average is $42.95 and its 200-day moving average is $49.24. The firm has a market capitalization of $22.85 billion, a PE ratio of 79.60 and a beta of 1.00. Smurfit Westrock Ltd has a fifty-two week low of $37.01 and a fifty-two week high of $56.99.

Smurfit Westrock (NYSE:SW - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.08. The business had revenue of $7.66 billion during 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%. The business's revenue was up 161.3% compared to the same quarter last year. Sell-side analysts anticipate that Smurfit Westrock Ltd will post 3.25 earnings per share for the current year.

Smurfit Westrock Dividend Announcement

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

Insider Activity at Smurfit Westrock

In related news, Director Irial Finan purchased 15,180 shares of the stock in a transaction on Tuesday, May 6th. The shares were purchased at an average cost of $39.21 per share, with a total value of $595,207.80. Following the acquisition, the director now directly owns 54,893 shares in the company, valued at $2,152,354.53. The trade was a 38.22% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.49% of the stock is owned by company insiders.

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.

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