Smurfit Westrock Ltd (NYSE:SW) Shares Sold by Sycomore Asset Management

Sycomore Asset Management reduced its holdings in Smurfit Westrock Ltd (NYSE:SW) by 11.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 488,737 shares of the company’s stock after selling 62,648 shares during the quarter. Smurfit Westrock comprises 3.3% of Sycomore Asset Management’s portfolio, making the stock its 5th biggest holding. Sycomore Asset Management owned approximately 0.09% of Smurfit Westrock worth $26,323,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Mather Group LLC. bought a new stake in Smurfit Westrock in the 3rd quarter valued at $25,000. Retirement Wealth Solutions LLC bought a new stake in shares of Smurfit Westrock in the fourth quarter valued at about $25,000. CVA Family Office LLC acquired a new stake in Smurfit Westrock during the third quarter worth about $26,000. Versant Capital Management Inc bought a new position in Smurfit Westrock during the fourth quarter valued at about $27,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in 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 acquiring an additional 279 shares in the last quarter. 83.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and set a $58.00 price objective on shares of Smurfit Westrock in a report on Friday, November 15th. Barclays boosted their price target on shares of Smurfit Westrock from $60.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Citigroup lifted their target price on shares of Smurfit Westrock from $61.00 to $62.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Argus started coverage on shares of Smurfit Westrock in a research report on Thursday, December 5th. They issued a “buy” rating and a $62.00 price target for the company. Finally, Truist Financial started coverage on Smurfit Westrock in a report on Tuesday, January 21st. They set a “buy” rating and a $62.00 price objective on the stock. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.70.

Insider Activity

In related news, insider Saverio Mayer sold 25,000 shares of the firm’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 value 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 $8,221,119.24. This trade represents a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.49% of the stock is currently owned by corporate insiders.

Smurfit Westrock Stock Performance

NYSE:SW opened at $54.00 on Monday. The stock has a market capitalization of $28.10 billion, a P/E ratio of 299.99 and a beta of 1.02. Smurfit Westrock Ltd has a 1 year low of $38.55 and a 1 year high of $56.99. The firm has a 50 day moving average of $53.70 and a 200-day moving average of $49.47. 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 Increases Dividend

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