New York State Common Retirement Fund Increases Stake in Smurfit Westrock PLC $SW

New York State Common Retirement Fund boosted its holdings in shares of Smurfit Westrock PLC (NYSE:SW) by 12.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 587,635 shares of the company’s stock after buying an additional 67,269 shares during the period. New York State Common Retirement Fund’s holdings in Smurfit Westrock were worth $25,016,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. increased its position in shares of Smurfit Westrock by 113.3% during the third quarter. TD Waterhouse Canada Inc. now owns 640 shares of the company’s stock worth $27,000 after acquiring an additional 340 shares during the period. CYBER HORNET ETFs LLC purchased a new position in Smurfit Westrock in the second quarter valued at $29,000. Root Financial Partners LLC acquired a new position in Smurfit Westrock during the 3rd quarter worth $33,000. Rexford Capital Inc. purchased a new stake in Smurfit Westrock during the 2nd quarter worth about $35,000. Finally, Whipplewood Advisors LLC increased its holdings in Smurfit Westrock by 50.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 1,026 shares of the company’s stock worth $44,000 after purchasing an additional 342 shares during the period. Hedge funds and other institutional investors own 83.38% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SW. Wells Fargo & Company decreased their price objective on Smurfit Westrock from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Tuesday, January 6th. Citigroup reduced their target price on shares of Smurfit Westrock from $49.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, January 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Smurfit Westrock in a report on Monday, December 29th. Morgan Stanley reissued an “overweight” rating on shares of Smurfit Westrock in a research report on Thursday, January 8th. Finally, Truist Financial reduced their price objective on shares of Smurfit Westrock from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Tuesday, January 6th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.60.

Smurfit Westrock Stock Performance

Shares of SW opened at $41.60 on Friday. The company has a market capitalization of $21.72 billion, a price-to-earnings ratio of 29.09 and a beta of 1.09. Smurfit Westrock PLC has a 52-week low of $32.73 and a 52-week high of $55.54. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 0.72. The stock has a 50 day moving average price of $39.17 and a 200 day moving average price of $41.34.

Smurfit Westrock (NYSE:SW) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.10). Smurfit Westrock had a return on equity of 6.21% and a net margin of 2.40%.The company had revenue of $8 billion for the quarter, compared to analyst estimates of $7.89 billion. Smurfit Westrock’s quarterly revenue was up 4.3% compared to the same quarter last year. Research analysts predict that Smurfit Westrock PLC will post 3.25 EPS for the current fiscal year.

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.