Hsbc Holdings PLC Buys Shares of 1,110,677 Smurfit Westrock PLC $SW

Hsbc Holdings PLC purchased a new stake in Smurfit Westrock PLC (NYSE:SW) in the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 1,110,677 shares of the company’s stock, valued at approximately $44,056,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SW. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Smurfit Westrock during the 4th quarter valued at approximately $28,000. DV Equities LLC acquired a new position in Smurfit Westrock in the fourth quarter valued at approximately $28,000. CYBER HORNET ETFs LLC purchased a new position in Smurfit Westrock in the second quarter worth approximately $29,000. Root Financial Partners LLC grew its position in Smurfit Westrock by 187.6% in the first quarter. Root Financial Partners LLC now owns 768 shares of the company’s stock worth $31,000 after acquiring an additional 501 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Smurfit Westrock in the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 83.38% of the company’s stock.

Smurfit Westrock Stock Performance

NYSE SW opened at $43.17 on Tuesday. The company has a market cap of $22.64 billion, a P/E ratio of 59.96, a P/E/G ratio of 0.73 and a beta of 0.95. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.44 and a quick ratio of 0.95. The stock has a 50-day moving average of $42.47 and a two-hundred day moving average of $42.45. Smurfit Westrock PLC has a 1-year low of $32.73 and a 1-year high of $52.65.

Smurfit Westrock (NYSE:SW) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). Smurfit Westrock had a return on equity of 4.96% and a net margin of 1.22%.The business had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.57 billion. During the same period in the prior year, the company posted $0.74 EPS. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, analysts anticipate that Smurfit Westrock PLC will post 2.24 EPS for the current year.

Smurfit Westrock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were paid a dividend of $0.4523 per share. This represents a $1.81 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Friday, May 15th. Smurfit Westrock’s dividend payout ratio is presently 251.39%.

Analysts Set New Price Targets

A number of equities research analysts have commented on SW shares. Wall Street Zen downgraded Smurfit Westrock from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. The Goldman Sachs Group started coverage on Smurfit Westrock in a report on Tuesday, March 24th. They set a “buy” rating and a $49.00 price target for the company. Weiss Ratings raised Smurfit Westrock from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday. Morgan Stanley reissued an “overweight” rating and set a $57.00 price objective on shares of Smurfit Westrock in a research report on Wednesday, May 6th. Finally, Truist Financial boosted their price objective on shares of Smurfit Westrock from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.83.

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.