Argus Begins Coverage on Smurfit Westrock (NYSE:SW)

Argus began coverage on shares of Smurfit Westrock (NYSE:SW) in a report released on Thursday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $62.00 target price on the stock.

Several other research firms have also commented on SW. Royal Bank of Canada reissued an “outperform” rating and issued a $58.00 target price on shares of Smurfit Westrock in a report on Friday, November 15th. JPMorgan Chase & Co. lifted their price objective on shares of Smurfit Westrock from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, November 29th. Morgan Stanley boosted their price objective on shares of Smurfit Westrock from $60.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Wells Fargo & Company reduced their target price on Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, October 7th. Finally, Citigroup began coverage on Smurfit Westrock in a report on Wednesday, October 23rd. They set a “buy” rating and a $57.00 price target for the company. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Smurfit Westrock currently has an average rating of “Moderate Buy” and a consensus target price of $59.00.

Smurfit Westrock Stock Performance

SW opened at $54.61 on Thursday. The firm has a market cap of $28.41 billion, a price-to-earnings ratio of 303.41 and a beta of 1.04. The stock’s fifty day moving average is $50.13. Smurfit Westrock has a 52-week low of $38.55 and a 52-week high of $56.99. The company has a current ratio of 1.48, a quick ratio of 0.98 and a debt-to-equity ratio of 0.73.

Smurfit Westrock Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 15th will be paid a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Friday, November 15th. Smurfit Westrock’s payout ratio is 672.26%.

Insider Buying and Selling

In other Smurfit Westrock news, insider Saverio Mayer sold 25,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $54.84, for a total value of $1,371,000.00. Following the completion of the transaction, the insider now directly owns 149,911 shares in the company, valued at approximately $8,221,119.24. This trade represents a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.49% of the stock is currently owned by corporate insiders.

Institutional Trading of Smurfit Westrock

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mather Group LLC. acquired a new position in Smurfit Westrock during the 3rd quarter worth about $25,000. CVA Family Office LLC bought a new position in shares of Smurfit Westrock during the third quarter worth about $26,000. ORG Wealth Partners LLC acquired a new position in shares of Smurfit Westrock in the third quarter worth approximately $32,000. Waldron Private Wealth LLC bought a new stake in Smurfit Westrock in the third quarter valued at approximately $35,000. Finally, Cromwell Holdings LLC bought a new stake in Smurfit Westrock in the third quarter valued at approximately $42,000. 83.38% of the stock is currently owned by institutional investors.

Smurfit Westrock Company 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.