1,562,261 Shares in Smurfit Westrock Ltd (NYSE:SW) Bought by Citigroup Inc.

Citigroup Inc. purchased a new stake in Smurfit Westrock Ltd (NYSE:SW) during the 3rd quarter, Holdings Channel reports. The firm purchased 1,562,261 shares of the company’s stock, valued at approximately $77,207,000.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $58.00 target price on shares of Smurfit Westrock in a research note on Friday, November 15th. Citigroup assumed coverage on Smurfit Westrock in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $57.00 price objective for the company. Redburn Atlantic started coverage on Smurfit Westrock in a report on Friday, August 23rd. They set a “buy” rating and a $60.00 target price on the stock. Jefferies Financial Group reaffirmed a “hold” rating and set a $52.00 price target on shares of Smurfit Westrock in a report on Monday, July 29th. Finally, Wells Fargo & Company decreased their price objective on shares of Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, October 7th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $58.00.

Smurfit Westrock Price Performance

SW opened at $56.64 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.48 and a quick ratio of 0.98. The firm has a fifty day moving average price of $48.72. Smurfit Westrock Ltd has a 1 year low of $38.55 and a 1 year high of $56.99. The company has a market cap of $29.46 billion, a P/E ratio of 314.67 and a beta of 1.04.

Smurfit Westrock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 15th will be given a $0.3025 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.14%. Smurfit Westrock’s payout ratio is presently 672.22%.

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.