Smurfit Westrock Ltd (NYSE:SW) Shares Bought by Royal Bank of Canada

Royal Bank of Canada boosted its stake in shares of Smurfit Westrock Ltd (NYSE:SW - Free Report) by 44.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,067,691 shares of the company's stock after acquiring an additional 326,437 shares during the quarter. Royal Bank of Canada owned about 0.21% of Smurfit Westrock worth $57,505,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in SW. Norges Bank acquired a new stake in shares of Smurfit Westrock in the 4th quarter valued at approximately $1,300,041,000. Nuveen Asset Management LLC lifted its holdings in shares of Smurfit Westrock by 51.6% in the 4th quarter. Nuveen Asset Management LLC now owns 20,720,312 shares of the company's stock valued at $1,115,996,000 after buying an additional 7,050,781 shares during the period. Boston Partners acquired a new stake in shares of Smurfit Westrock in the 4th quarter valued at approximately $304,377,000. Victory Capital Management Inc. lifted its holdings 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 valued at $295,750,000 after buying an additional 5,370,587 shares during the period. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Smurfit Westrock in the 3rd quarter valued at approximately $221,026,000. 83.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SW has been the subject of several recent analyst reports. Wells Fargo & Company reduced their price target on Smurfit Westrock from $53.00 to $43.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Barclays reduced their price target on Smurfit Westrock from $68.00 to $64.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Truist Financial reduced their price target on Smurfit Westrock from $62.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Morgan Stanley reduced their price target on Smurfit Westrock from $66.00 to $64.00 and set an "overweight" rating for the company in a report on Tuesday, March 11th. Finally, Royal Bank of Canada reduced their price target 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 issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $58.20.

Smurfit Westrock Stock Performance

Shares of SW stock opened at $45.98 on Wednesday. The stock has a fifty day moving average price of $42.99 and a 200 day moving average price of $49.44. The stock has a market cap of $24.00 billion, a PE ratio of 83.60 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.

Smurfit Westrock (NYSE:SW - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.08. The firm 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 firm's quarterly revenue was up 161.3% on a year-over-year basis. Sell-side analysts forecast that Smurfit Westrock Ltd will post 3.25 earnings per share for the current fiscal year.

Smurfit Westrock Announces Dividend

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

Insiders Place Their Bets

In other Smurfit Westrock 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 transaction, 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Irial Finan acquired 15,180 shares of the stock in a transaction dated Tuesday, May 6th. The stock was acquired at an average cost of $39.21 per share, with a total value of $595,207.80. Following the transaction, the director now owns 54,893 shares of the company's stock, valued at approximately $2,152,354.53. This trade represents a 38.22% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.49% of the stock is currently 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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