Smurfit Westrock (NYSE:SW) Given New $62.00 Price Target at Citigroup

Smurfit Westrock (NYSE:SW) had its price target raised by Citigroup from $61.00 to $62.00 in a research note released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley lifted their price target on Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Wells Fargo & Company decreased 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $58.00 price target on shares of Smurfit Westrock in a report on Friday, November 15th. JPMorgan Chase & Co. upped their price objective on shares of Smurfit Westrock from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, November 29th. Finally, Barclays raised their target price on shares of Smurfit Westrock from $60.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.56.

Smurfit Westrock Trading Up 2.0 %

Shares of SW opened at $53.35 on Monday. The firm has a market capitalization of $27.75 billion, a PE ratio of 296.41 and a beta of 1.03. Smurfit Westrock has a 12 month low of $38.55 and a 12 month high of $56.99. The stock’s fifty day simple moving average is $53.19. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.48 and a quick ratio of 0.98.

Smurfit Westrock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Friday, November 15th were issued a dividend of $0.3025 per share. The ex-dividend date was Friday, November 15th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.27%. Smurfit Westrock’s dividend payout ratio (DPR) is presently 672.22%.

Insider Buying and Selling

In related news, insider Saverio Mayer sold 25,000 shares of the business’s stock in a transaction 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 transaction, the insider now owns 149,911 shares in the company, valued at $8,221,119.24. The trade was a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Smurfit Westrock

Several hedge funds and other institutional investors have recently bought and sold shares of SW. Private Management Group Inc. acquired a new position in Smurfit Westrock during the third quarter worth $9,405,000. Intech Investment Management LLC bought a new stake in shares of Smurfit Westrock during the third quarter worth about $597,000. Moors & Cabot Inc. acquired a new stake in shares of Smurfit Westrock in the 3rd quarter worth about $520,000. Citigroup Inc. bought a new position in Smurfit Westrock in the 3rd quarter valued at about $77,207,000. Finally, Catalytic Wealth RIA LLC acquired a new position in Smurfit Westrock during the 3rd quarter valued at about $520,000. 83.38% of the stock is 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.