Miracle Mile Advisors LLC Takes Position in Smurfit Westrock Ltd (NYSE:SW)

Miracle Mile Advisors LLC purchased a new position in Smurfit Westrock Ltd (NYSE:SW - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 19,950 shares of the company's stock, valued at approximately $1,075,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp purchased a new stake in Smurfit Westrock during the 3rd quarter valued at $967,582,000. Geode Capital Management LLC bought a new stake in shares of Smurfit Westrock in the third quarter worth $627,244,000. FMR LLC bought a new stake in shares of Smurfit Westrock in the third quarter worth $431,653,000. Mizuho Securities USA LLC purchased a new stake in Smurfit Westrock during the third quarter valued at $386,712,000. Finally, Soros Fund Management LLC bought a new position in Smurfit Westrock in the third quarter valued at about $340,848,000. 83.38% of the stock is owned by institutional investors.

Insider Activity at Smurfit Westrock

In related news, insider Saverio Mayer sold 25,000 shares of the company's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $54.84, for a total value of $1,371,000.00. Following the transaction, the insider now directly owns 149,911 shares of the company's stock, valued at $8,221,119.24. This represents a 14.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.49% of the stock is currently owned by insiders.

Smurfit Westrock Trading Up 0.2 %

Shares of NYSE:SW traded up $0.08 during trading on Wednesday, reaching $53.01. The stock had a trading volume of 2,651,386 shares, compared to its average volume of 2,633,865. The stock has a 50-day moving average of $53.57. 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 Ltd has a one year low of $38.55 and a one year high of $56.99. The firm has a market cap of $27.57 billion, a P/E ratio of 294.52 and a beta of 1.03.

Smurfit Westrock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Friday, November 15th were given a $0.3025 dividend. This represents a $1.21 annualized dividend and a dividend yield of 2.28%. The ex-dividend date was Friday, November 15th. Smurfit Westrock's payout ratio is currently 672.22%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Argus started coverage on Smurfit Westrock in a research note on Thursday, December 5th. They set a "buy" rating and a $62.00 price target for the company. Royal Bank of Canada restated an "outperform" rating and set a $58.00 target price on shares of Smurfit Westrock in a research report on Friday, November 15th. Wells Fargo & Company reduced their target price on shares of Smurfit Westrock from $53.00 to $50.00 and set an "equal weight" rating for the company in a report on Monday, October 7th. Morgan Stanley lifted their price target on shares of Smurfit Westrock from $60.00 to $64.00 and gave the stock an "overweight" rating in a research note on Thursday, November 14th. Finally, Citigroup upped their price objective on Smurfit Westrock from $61.00 to $62.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Smurfit Westrock presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.56.

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.