Kentucky Retirement Systems Insurance Trust Fund Invests $722,000 in Smurfit Westrock Ltd (NYSE:SW)

Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Smurfit Westrock Ltd (NYSE:SW - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,608 shares of the company's stock, valued at approximately $722,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SW. Vontobel Holding Ltd. bought a new position in Smurfit Westrock during the 3rd quarter worth approximately $62,832,000. Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Smurfit Westrock in the third quarter valued at about $51,430,000. Patten & Patten Inc. TN bought a new stake in shares of Smurfit Westrock during the 3rd quarter worth approximately $49,538,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Smurfit Westrock in the 3rd quarter valued at about $39,627,000. Finally, Principal Financial Group Inc. bought a new stake in Smurfit Westrock in the third quarter valued at approximately $29,716,000. 83.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wells Fargo & Company decreased 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 note on Monday, October 7th. Citigroup started coverage on Smurfit Westrock in a research note on Wednesday, October 23rd. They issued a "buy" rating and a $57.00 price target for the company. Morgan Stanley raised their price target on shares of Smurfit Westrock from $60.00 to $64.00 and gave the company an "overweight" rating in a research note on Thursday, November 14th. Jefferies Financial Group reiterated a "hold" rating and issued a $52.00 target price on shares of Smurfit Westrock in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. dropped their price target on Smurfit Westrock from $66.00 to $65.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $58.00.

Smurfit Westrock Price Performance

Smurfit Westrock stock traded down $0.60 during mid-day trading on Tuesday, hitting $52.84. The company's stock had a trading volume of 1,273,704 shares, compared to its average volume of 5,177,035. The business has a 50 day moving average of $47.81. Smurfit Westrock Ltd has a 12 month low of $38.55 and a 12 month high of $54.32. The stock has a market cap of $27.49 billion, a PE ratio of 296.96 and a beta of 1.04. 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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 15th will be paid a dividend of $0.3025 per share. This represents a $1.21 annualized dividend and a yield of 2.29%. The ex-dividend date is Friday, November 15th. Smurfit Westrock's payout ratio is currently 672.26%.

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.