Smurfit Westrock PLC $SW Stock Position Reduced by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC reduced its stake in Smurfit Westrock PLC by **53.2%**, owning 236,529 shares worth approximately **$10.56 million** after selling 268,686 shares during the first quarter.
• Several research firms have adjusted their price targets for Smurfit Westrock, with Morgan Stanley increasing its target from **$51 to $53** and Jefferies upgrading their rating from **hold to buy** with a new target of **$55**.
• Smurfit Westrock recently announced a quarterly dividend of **$0.4308 per share**, which will be paid on **September 18th**, providing an annual yield of **3.8%** despite a high payout ratio of **260.61%**.

Hsbc Holdings PLC lessened its stake in Smurfit Westrock PLC (NYSE:SW - Free Report) by 53.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 236,529 shares of the company's stock after selling 268,686 shares during the quarter. Hsbc Holdings PLC's holdings in Smurfit Westrock were worth $10,562,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Zions Bancorporation National Association UT purchased a new position in shares of Smurfit Westrock during the 1st quarter valued at $29,000. University of Texas Texas AM Investment Management Co. purchased a new position in Smurfit Westrock in the fourth quarter valued at about $30,000. Tsfg LLC acquired a new position in Smurfit Westrock in the 1st quarter worth about $30,000. IMA Advisory Services Inc. purchased a new stake in shares of Smurfit Westrock during the 1st quarter worth about $30,000. Finally, Versant Capital Management Inc grew its position in Smurfit Westrock by 54.0% in the first quarter. Versant Capital Management Inc now owns 779 shares of the company's stock worth $35,000 after acquiring an additional 273 shares in the last quarter. Institutional investors and hedge funds own 83.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SW. Barclays dropped their price objective on shares of Smurfit Westrock from $64.00 to $63.00 and set an "overweight" rating on the stock in a report on Monday, June 30th. Morgan Stanley boosted their price target on Smurfit Westrock from $51.00 to $53.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Wells Fargo & Company upped their price target on Smurfit Westrock from $45.00 to $46.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Truist Financial lifted their price objective on Smurfit Westrock from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, Jefferies Financial Group upgraded Smurfit Westrock from a "hold" rating to a "buy" rating and boosted their price objective for the company from $44.00 to $55.00 in a research report on Monday, June 16th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $57.78.

Smurfit Westrock Price Performance

Shares of SW stock opened at $45.6870 on Monday. The stock's fifty day simple moving average is $44.99 and its 200 day simple moving average is $45.11. Smurfit Westrock PLC has a one year low of $37.01 and a one year high of $56.99. The firm has a market cap of $23.85 billion, a price-to-earnings ratio of 69.22 and a beta of 1.06. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.45 and a quick ratio of 0.95.

Smurfit Westrock (NYSE:SW - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.45 earnings per share (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 company had revenue of $7.94 billion for the quarter, compared to the consensus estimate of $7.88 billion. Smurfit Westrock's revenue was up 167.4% compared to the same quarter last year. On average, analysts expect that Smurfit Westrock PLC will post 3.25 earnings per share for the current fiscal year.

Smurfit Westrock Announces Dividend

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

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.

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