Vident Advisory LLC Increases Stock Position in Smurfit Westrock PLC $SW

Key Points

• Vident Advisory LLC significantly increased its position in Smurfit Westrock PLC by 242.2% during the first quarter, now holding 38,729 shares valued at approximately $1.745 million.
• Multiple analysts have updated their price targets for Smurfit Westrock, with a consensus average price target of $57.78 and most ratings indicating a Moderate Buy.
• The company recently declared a quarterly dividend of $0.4308 per share, translating to an annual yield of 3.6%, with a payout ratio of 260.61%.

Vident Advisory LLC lifted its position in Smurfit Westrock PLC (NYSE:SW - Free Report) by 242.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,729 shares of the company's stock after buying an additional 27,413 shares during the period. Vident Advisory LLC's holdings in Smurfit Westrock were worth $1,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of SW. Versant Capital Management Inc boosted 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 purchasing an additional 273 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Smurfit Westrock by 20.7% in the first quarter. Exchange Traded Concepts LLC now owns 1,721 shares of the company's stock worth $78,000 after buying an additional 295 shares during the last quarter. Fiduciary Alliance LLC grew its position in Smurfit Westrock by 6.8% during the first quarter. Fiduciary Alliance LLC now owns 5,018 shares of the company's stock valued at $226,000 after buying an additional 318 shares during the period. Citizens Financial Group Inc. RI grew its position in Smurfit Westrock by 2.8% during the first quarter. Citizens Financial Group Inc. RI now owns 11,893 shares of the company's stock valued at $536,000 after buying an additional 328 shares during the period. Finally, Mainstay Capital Management LLC ADV increased its holdings in Smurfit Westrock by 0.9% during the first quarter. Mainstay Capital Management LLC ADV now owns 37,137 shares of the company's stock valued at $1,673,000 after buying an additional 344 shares during the last quarter. Hedge funds and other institutional investors own 83.38% of the company's stock.

Wall Street Analyst Weigh In

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

Smurfit Westrock Trading Up 1.6%

NYSE:SW traded up $0.75 during midday trading on Friday, hitting $46.92. 2,339,724 shares of the company traded hands, compared to its average volume of 3,977,699. The firm's fifty day moving average is $45.76 and its 200-day moving average is $44.60. The firm has a market capitalization of $24.50 billion, a P/E ratio of 71.09 and a beta of 1.04. 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.

Smurfit Westrock (NYSE:SW - Get Free Report) last issued its earnings results 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 analysts' expectations of $7.88 billion. Smurfit Westrock's quarterly revenue was up 167.4% compared to the same quarter last year. On average, sell-side analysts predict that Smurfit Westrock PLC will post 3.25 EPS for the current year.

Smurfit Westrock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, August 15th will be given a dividend of $0.4308 per share. This represents a $1.72 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, August 15th. Smurfit Westrock's payout ratio is currently 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.