New York Life Investment Management LLC Has $2.87 Million Position in Smurfit Westrock PLC $SW

New York Life Investment Management LLC reduced its holdings in Smurfit Westrock PLC (NYSE:SW) by 1.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 66,555 shares of the company’s stock after selling 1,098 shares during the quarter. New York Life Investment Management LLC’s holdings in Smurfit Westrock were worth $2,872,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SW. Nuveen LLC acquired a new stake in Smurfit Westrock in the 1st quarter valued at $1,051,299,000. Ruffer LLP acquired a new stake in Smurfit Westrock in the 2nd quarter valued at $196,095,000. Orbis Allan Gray Ltd increased its stake in Smurfit Westrock by 74.8% in the 1st quarter. Orbis Allan Gray Ltd now owns 10,114,213 shares of the company’s stock valued at $455,746,000 after buying an additional 4,329,653 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Smurfit Westrock by 39.3% in the 1st quarter. JPMorgan Chase & Co. now owns 6,100,067 shares of the company’s stock valued at $274,869,000 after buying an additional 1,721,889 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in Smurfit Westrock by 16.1% in the 1st quarter. Alliancebernstein L.P. now owns 5,689,254 shares of the company’s stock valued at $256,358,000 after buying an additional 788,082 shares during the last quarter. 83.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SW has been the topic of several recent research reports. UBS Group began coverage on shares of Smurfit Westrock in a research note on Monday, September 15th. They issued a “buy” rating and a $60.00 price target on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Smurfit Westrock in a research note on Wednesday, October 8th. Wells Fargo & Company cut their price target on shares of Smurfit Westrock from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday. Seaport Res Ptn upgraded shares of Smurfit Westrock from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Finally, Truist Financial cut their price target on shares of Smurfit Westrock from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $57.00.

Smurfit Westrock Stock Performance

Shares of SW stock opened at $36.06 on Friday. The company has a market capitalization of $18.83 billion, a price-to-earnings ratio of 25.21 and a beta of 1.09. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.95 and a current ratio of 1.48. The company has a 50-day simple moving average of $43.54 and a 200 day simple moving average of $43.84. Smurfit Westrock PLC has a 52 week low of $35.87 and a 52 week high of $56.99.

Smurfit Westrock (NYSE:SW) last announced its earnings results on Wednesday, October 29th. The company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.10). The company had revenue of $8 billion for the quarter, compared to the consensus estimate of $7.89 billion. Smurfit Westrock had a return on equity of 6.21% and a net margin of 2.40%.The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, sell-side analysts predict that Smurfit Westrock PLC will post 3.25 earnings per share for the current year.

Smurfit Westrock Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Friday, November 14th will be issued a dividend of $0.4308 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.72 annualized dividend and a dividend yield of 4.8%. Smurfit Westrock’s payout ratio is presently 260.61%.

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.