Charles Schwab Investment Management Inc. Purchases Shares of 3,059,742 Smurfit Westrock Ltd (NYSE:SW)

Charles Schwab Investment Management Inc. acquired a new stake in shares of Smurfit Westrock Ltd (NYSE:SW) in the third quarter, HoldingsChannel.com reports. The firm acquired 3,059,742 shares of the company’s stock, valued at approximately $151,212,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mizuho Securities USA LLC bought a new stake in Smurfit Westrock during the 3rd quarter worth approximately $386,712,000. Thompson Siegel & Walmsley LLC acquired a new position in Smurfit Westrock in the third quarter worth $129,491,000. Swiss National Bank bought a new stake in shares of Smurfit Westrock during the third quarter worth $76,082,000. Vontobel Holding Ltd. acquired a new stake in shares of Smurfit Westrock in the third quarter valued at $62,832,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Smurfit Westrock in the third quarter valued at about $51,430,000. Institutional investors and hedge funds own 83.38% of the company’s stock.

Analysts Set New Price Targets

SW has been the subject of several research reports. Wells Fargo & Company lowered their price objective on shares of 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. Jefferies Financial Group reissued a “hold” rating and issued a $52.00 price target on shares of Smurfit Westrock in a report on Monday, July 29th. Citigroup assumed coverage on Smurfit Westrock in a report on Wednesday, October 23rd. They set a “buy” rating and a $57.00 price objective on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $58.00 target price on shares of Smurfit Westrock in a research note on Friday, November 15th. Finally, JPMorgan Chase & Co. cut their price target on Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $58.00.

Smurfit Westrock Stock Performance

Shares of Smurfit Westrock stock opened at $56.64 on Monday. Smurfit Westrock Ltd has a 52 week low of $38.55 and a 52 week high of $56.99. The company has a quick ratio of 0.98, a current ratio of 1.48 and a debt-to-equity ratio of 0.73. The company has a market cap of $29.46 billion, a PE ratio of 314.68 and a beta of 1.04. The company’s fifty day simple moving average is $48.72.

Smurfit Westrock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 15th will be paid a $0.3025 dividend. This represents a $1.21 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Friday, November 15th. Smurfit Westrock’s payout ratio is 672.26%.

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.