Sycomore Asset Management Trims Stock Holdings in Smurfit Westrock Ltd (NYSE:SW)

Sycomore Asset Management cut its stake in Smurfit Westrock Ltd (NYSE:SW) by 11.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 488,737 shares of the company’s stock after selling 62,648 shares during the quarter. Smurfit Westrock accounts for 3.3% of Sycomore Asset Management’s holdings, making the stock its 5th biggest position. Sycomore Asset Management’s holdings in Smurfit Westrock were worth $26,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of SW. Stephens Inc. AR raised its holdings in Smurfit Westrock by 3.7% during the fourth quarter. Stephens Inc. AR now owns 5,616 shares of the company’s stock worth $302,000 after acquiring an additional 199 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Smurfit Westrock by 117.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 516 shares of the company’s stock valued at $28,000 after buying an additional 279 shares during the last quarter. DAVENPORT & Co LLC grew its stake in shares of Smurfit Westrock by 0.5% in the fourth quarter. DAVENPORT & Co LLC now owns 55,898 shares of the company’s stock valued at $3,011,000 after buying an additional 299 shares in the last quarter. Contravisory Investment Management Inc. grew its stake in shares of Smurfit Westrock by 2.6% in the fourth quarter. Contravisory Investment Management Inc. now owns 14,189 shares of the company’s stock valued at $764,000 after buying an additional 365 shares in the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new position in Smurfit Westrock during the fourth quarter worth $25,000. 83.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Truist Financial started coverage on shares of Smurfit Westrock in a research note on Tuesday, January 21st. They issued a “buy” rating and a $62.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $58.00 target price on shares of Smurfit Westrock in a research note on Friday, November 15th. JPMorgan Chase & Co. boosted their price target on Smurfit Westrock from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, November 29th. Barclays raised their price objective on Smurfit Westrock from $60.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Finally, Citigroup boosted their target price on Smurfit Westrock from $61.00 to $62.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $60.70.

Smurfit Westrock Trading Down 1.6 %

Shares of Smurfit Westrock stock opened at $54.00 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.48. The firm has a 50-day moving average of $53.70 and a 200-day moving average of $49.47. Smurfit Westrock Ltd has a 52-week low of $38.55 and a 52-week high of $56.99. The stock has a market cap of $28.10 billion, a PE ratio of 299.99 and a beta of 1.02.

Smurfit Westrock Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Friday, February 14th will be given a dividend of $0.4308 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.19%. This is an increase from Smurfit Westrock’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, February 14th. Smurfit Westrock’s dividend payout ratio is presently 672.26%.

Insider Transactions at Smurfit Westrock

In other news, insider Saverio Mayer sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $54.84, for a total transaction of $1,371,000.00. Following the completion of the sale, the insider now owns 149,911 shares of the company’s stock, valued at approximately $8,221,119.24. This represents a 14.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.49% of the stock is currently owned by insiders.

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.