Smurfit Westrock (NYSE:SW) Price Target Raised to $62.00

Smurfit Westrock (NYSE:SW) had its price target boosted by Citigroup from $61.00 to $62.00 in a research note published on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts have also recently commented on SW. JPMorgan Chase & Co. upped their price objective on Smurfit Westrock from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. Argus started coverage on Smurfit Westrock in a research report on Thursday, December 5th. They issued a “buy” rating and a $62.00 price target for the company. Morgan Stanley upped their price target on Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Barclays upped their price target on Smurfit Westrock from $60.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company reduced their price target on Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, October 7th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.56.

Smurfit Westrock Stock Performance

Smurfit Westrock stock opened at $51.93 on Monday. The stock has a market capitalization of $27.01 billion, a PE ratio of 288.52 and a beta of 1.03. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.48. Smurfit Westrock has a one year low of $38.55 and a one year high of $56.99. The firm’s fifty day moving average price is $53.53.

Smurfit Westrock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Friday, November 15th were paid a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Friday, November 15th. Smurfit Westrock’s dividend payout ratio (DPR) is 672.22%.

Insider Transactions at Smurfit Westrock

In related news, insider Saverio Mayer sold 25,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $54.84, for a total transaction of $1,371,000.00. Following the completion of the transaction, the insider now directly owns 149,911 shares of the company’s stock, valued at approximately $8,221,119.24. This represents a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.49% of the company’s stock.

Hedge Funds Weigh In On Smurfit Westrock

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Private Management Group Inc. bought a new position in Smurfit Westrock during the third quarter valued at approximately $9,405,000. Intech Investment Management LLC bought a new position in Smurfit Westrock during the third quarter valued at approximately $597,000. Moors & Cabot Inc. bought a new position in Smurfit Westrock during the third quarter valued at approximately $520,000. Citigroup Inc. bought a new position in Smurfit Westrock during the third quarter valued at approximately $77,207,000. Finally, Catalytic Wealth RIA LLC bought a new stake in shares of Smurfit Westrock in the 3rd quarter valued at approximately $520,000. 83.38% of the stock is owned by institutional investors.

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.