Sumitomo Mitsui Trust Group Inc. Boosts Stock Position in Smurfit Westrock PLC $SW

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Smurfit Westrock PLC (NYSE:SW - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,179,837 shares of the company's stock after buying an additional 39,013 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.23% of Smurfit Westrock worth $47,017,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new position in Smurfit Westrock during the 4th quarter worth $495,335,000. Capital Research Global Investors lifted its position in shares of Smurfit Westrock by 31.2% during the fourth quarter. Capital Research Global Investors now owns 36,127,677 shares of the company's stock worth $1,397,057,000 after purchasing an additional 8,596,558 shares during the last quarter. Orbis Allan Gray Ltd grew its stake in Smurfit Westrock by 81.9% in the second quarter. Orbis Allan Gray Ltd now owns 18,400,418 shares of the company's stock worth $793,978,000 after purchasing an additional 8,286,205 shares in the last quarter. AQR Capital Management LLC grew its stake in Smurfit Westrock by 8,132.7% in the fourth quarter. AQR Capital Management LLC now owns 5,724,100 shares of the company's stock worth $221,351,000 after purchasing an additional 5,654,571 shares in the last quarter. Finally, Ruffer LLP increased its holdings in Smurfit Westrock by 473.3% in the fourth quarter. Ruffer LLP now owns 4,504,151 shares of the company's stock valued at $174,447,000 after buying an additional 3,718,562 shares during the last quarter. Institutional investors own 83.38% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on SW. Wells Fargo & Company upped their price objective on Smurfit Westrock from $50.00 to $52.00 and gave the company an "overweight" rating in a research note on Thursday. Wall Street Zen lowered Smurfit Westrock from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Weiss Ratings lowered Smurfit Westrock from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, July 1st. JPMorgan Chase & Co. raised their price objective on Smurfit Westrock from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Citigroup lifted their price objective on shares of Smurfit Westrock from $51.00 to $56.00 and gave the stock a "buy" rating in a report on Thursday. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $54.17.

Smurfit Westrock Stock Performance

Shares of SW stock opened at $44.29 on Monday. The company has a market cap of $23.23 billion, a P/E ratio of 61.52, a PEG ratio of 0.91 and a beta of 0.95. The business has a 50 day moving average of $42.11 and a two-hundred day moving average of $42.23. Smurfit Westrock PLC has a 52 week low of $32.73 and a 52 week high of $52.65. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 0.73.

Smurfit Westrock (NYSE:SW - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). The company had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.57 billion. Smurfit Westrock had a return on equity of 4.96% and a net margin of 1.22%.The firm's revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 earnings per share. As a group, analysts anticipate that Smurfit Westrock PLC will post 2.25 EPS for the current year.

Smurfit Westrock Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were given a $0.4523 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.81 annualized dividend and a yield of 4.1%. Smurfit Westrock's dividend payout ratio (DPR) is currently 250.00%.

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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