Wellington Management Group LLP Purchases 269,893 Shares of Smurfit Westrock PLC $SW

Key Points

• Wellington Management Group LLP increased its stake in Smurfit Westrock PLC by 38.6% in the first quarter, owning approximately 0.19% of the company worth $43.67 million after acquiring additional shares.
• Analysts have a consensus target price of $57.78 for Smurfit Westrock, with an average rating of "Moderate Buy" based on eight "Buy" ratings and one "Hold" rating.
• The company recently announced a quarterly dividend of $0.4308 per share, representing a 3.8% yield with a payout ratio of 260.61%.

Wellington Management Group LLP raised its stake in shares of Smurfit Westrock PLC (NYSE:SW - Free Report) by 38.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 969,929 shares of the company's stock after buying an additional 269,893 shares during the period. Wellington Management Group LLP owned about 0.19% of Smurfit Westrock worth $43,668,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Versant Capital Management Inc raised its holdings in Smurfit Westrock by 54.0% in the 1st quarter. Versant Capital Management Inc now owns 779 shares of the company's stock worth $35,000 after purchasing an additional 273 shares during the period. Exchange Traded Concepts LLC raised its holdings in Smurfit Westrock by 20.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,721 shares of the company's stock worth $78,000 after purchasing an additional 295 shares during the period. Fiduciary Alliance LLC raised its holdings in Smurfit Westrock by 6.8% in the 1st quarter. Fiduciary Alliance LLC now owns 5,018 shares of the company's stock worth $226,000 after purchasing an additional 318 shares during the period. Citizens Financial Group Inc. RI raised its holdings in Smurfit Westrock by 2.8% in the 1st quarter. Citizens Financial Group Inc. RI now owns 11,893 shares of the company's stock worth $536,000 after purchasing an additional 328 shares during the period. Finally, Mainstay Capital Management LLC ADV raised its holdings in Smurfit Westrock by 0.9% in the 1st quarter. Mainstay Capital Management LLC ADV now owns 37,137 shares of the company's stock worth $1,673,000 after purchasing an additional 344 shares during the period. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

Smurfit Westrock Trading Down 1.4%

Shares of NYSE:SW traded down $0.64 during trading on Wednesday, reaching $45.67. The company's stock had a trading volume of 4,055,133 shares, compared to its average volume of 3,765,486. The company has a current ratio of 1.45, a quick ratio of 0.95 and a debt-to-equity ratio of 0.73. Smurfit Westrock PLC has a 12 month low of $37.01 and a 12 month high of $56.99. The firm's 50 day simple moving average is $45.11 and its two-hundred day simple moving average is $45.06. The stock has a market capitalization of $23.84 billion, a PE ratio of 69.19 and a beta of 1.06.

Smurfit Westrock (NYSE:SW - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.57 by ($0.12). Smurfit Westrock had a net margin of 1.14% and a return on equity of 5.90%. The business had revenue of $7.94 billion during the quarter, compared to the consensus estimate of $7.88 billion. The firm's revenue for the quarter was up 167.4% on a year-over-year basis. On average, research analysts predict that Smurfit Westrock PLC will post 3.25 EPS for the current fiscal year.

Smurfit Westrock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, August 15th will be paid a $0.4308 dividend. This represents a $1.72 annualized dividend and a yield of 3.8%. Smurfit Westrock's payout ratio is currently 260.61%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Truist Financial raised their price objective on Smurfit Westrock from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Wells Fargo & Company raised their price objective on Smurfit Westrock from $45.00 to $46.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Barclays cut their price objective on Smurfit Westrock from $64.00 to $63.00 and set an "overweight" rating for the company in a research report on Monday, June 30th. Royal Bank Of Canada cut their price objective on Smurfit Westrock from $57.00 to $56.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Finally, Jefferies Financial Group upgraded Smurfit Westrock from a "hold" rating to a "buy" rating and raised their price objective for the company from $44.00 to $55.00 in a research report on Monday, June 16th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $57.78.

Smurfit Westrock 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.