Citigroup Inc. Takes Position in Smurfit Westrock Ltd (NYSE:SW)

Citigroup Inc. purchased a new stake in shares of Smurfit Westrock Ltd (NYSE:SW) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,562,261 shares of the company’s stock, valued at approximately $77,207,000. Citigroup Inc. owned 0.30% of Smurfit Westrock as of its most recent SEC filing.

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

Smurfit Westrock Stock Up 0.5 %

Shares of NYSE:SW opened at $56.64 on Friday. The firm has a market capitalization of $29.46 billion, a price-to-earnings ratio of 314.67 and a beta of 1.04. Smurfit Westrock Ltd has a 12 month low of $38.55 and a 12 month high of $56.99. The stock’s fifty day moving average is $48.72. 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 issued a $0.3025 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.14%. Smurfit Westrock’s dividend payout ratio (DPR) is 672.22%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SW shares. JPMorgan Chase & Co. decreased their target price on Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Jefferies Financial Group reaffirmed a “hold” rating and issued a $52.00 target price on shares of Smurfit Westrock in a research note on Monday, July 29th. Wells Fargo & Company reduced their price target on shares of Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, October 7th. Citigroup initiated coverage on shares of Smurfit Westrock in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $57.00 price objective for the company. Finally, Morgan Stanley lifted their target price on Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Two 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $58.00.

Smurfit Westrock 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.