Korea Investment CORP Has $5.36 Million Holdings in Smurfit Westrock PLC $SW

Key Points

• Korea Investment Corp has reduced its holdings in Smurfit Westrock PLC by 60.8%, owning 118,873 shares after selling 184,377 shares in the first quarter.
• Wall Street analysts have mixed opinions, with Jefferies Financial Group upgrading the stock to "buy" and setting a price target of $55.00, while others like Barclays and Royal Bank of Canada have adjusted their targets downwards.
• Smurfit Westrock announced a quarterly dividend of $0.4308 per share, representing a 3.8% dividend yield with a significantly high payout ratio of 260.61%.

Korea Investment CORP trimmed its stake in shares of Smurfit Westrock PLC (NYSE:SW - Free Report) by 60.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 118,873 shares of the company's stock after selling 184,377 shares during the period. Korea Investment CORP's holdings in Smurfit Westrock were worth $5,356,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. NBC Securities Inc. lifted its position in shares of Smurfit Westrock by 127,600.0% during the first quarter. NBC Securities Inc. now owns 1,277 shares of the company's stock worth $57,000 after purchasing an additional 1,276 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Smurfit Westrock by 1.7% during the fourth quarter. Ameriprise Financial Inc. now owns 9,003,480 shares of the company's stock worth $484,927,000 after purchasing an additional 149,210 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of Smurfit Westrock by 106.3% during the first quarter. QRG Capital Management Inc. now owns 11,709 shares of the company's stock worth $528,000 after purchasing an additional 6,032 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Smurfit Westrock by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 57,939 shares of the company's stock worth $2,610,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Smurfit Westrock by 36.5% during the first quarter. Farther Finance Advisors LLC now owns 5,038 shares of the company's stock worth $230,000 after purchasing an additional 1,346 shares in the last quarter. 83.38% of the stock is currently owned by institutional investors and hedge funds.

Smurfit Westrock Trading Down 1.2%

NYSE:SW traded down $0.55 during trading hours on Wednesday, hitting $45.76. The stock had a trading volume of 2,402,847 shares, compared to its average volume of 3,754,753. Smurfit Westrock PLC has a one year low of $37.01 and a one year high of $56.99. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.95 and a current ratio of 1.45. The company has a market cap of $23.89 billion, a price-to-earnings ratio of 69.27 and a beta of 1.06. The business's 50 day moving average is $45.11 and its 200-day moving average is $45.06.

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

Smurfit Westrock Announces Dividend

The company also recently announced 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 presently 260.61%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SW. Royal Bank Of Canada reduced their target price on shares of Smurfit Westrock from $57.00 to $56.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Barclays reduced their target price on shares of Smurfit Westrock from $64.00 to $63.00 and set an "overweight" rating on the stock in a research report on Monday, June 30th. Truist Financial boosted their price target on shares of Smurfit Westrock from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Morgan Stanley boosted their price target on shares of Smurfit Westrock from $51.00 to $53.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company boosted their price target on shares of Smurfit Westrock from $45.00 to $46.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $57.78.

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.