Soros Fund Management LLC Buys Shares of 6,896,971 Smurfit Westrock Ltd (NYSE:SW)

Soros Fund Management LLC bought a new position in shares of Smurfit Westrock Ltd (NYSE:SW - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,896,971 shares of the company's stock, valued at approximately $340,848,000. Smurfit Westrock makes up approximately 4.9% of Soros Fund Management LLC's investment portfolio, making the stock its biggest position. Soros Fund Management LLC owned 1.33% of Smurfit Westrock as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp purchased a new position in Smurfit Westrock in the 3rd quarter worth approximately $967,582,000. FMR LLC acquired a new stake in Smurfit Westrock during the 3rd quarter valued at $431,653,000. Mizuho Securities USA LLC purchased a new stake in Smurfit Westrock during the 3rd quarter worth $386,712,000. Charles Schwab Investment Management Inc. acquired a new position in Smurfit Westrock in the 3rd quarter worth $151,212,000. Finally, Thompson Siegel & Walmsley LLC purchased a new position in Smurfit Westrock in the 3rd quarter valued at about $129,491,000. Hedge funds and other institutional investors own 83.38% of the company's stock.

Smurfit Westrock Trading Down 0.5 %

SW traded down $0.26 on Friday, hitting $54.51. 503,782 shares of the company's stock were exchanged, compared to its average volume of 5,001,262. The company has a current ratio of 1.48, a quick ratio of 0.98 and a debt-to-equity ratio of 0.73. The company's fifty day simple moving average is $50.04. Smurfit Westrock Ltd has a twelve month low of $38.55 and a twelve month high of $56.99. The firm has a market capitalization of $28.35 billion, a price-to-earnings ratio of 304.29 and a beta of 1.04.

Smurfit Westrock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 15th will be given a dividend of $0.3025 per share. The ex-dividend date is Friday, November 15th. This represents a $1.21 dividend on an annualized basis and a yield of 2.22%. Smurfit Westrock's dividend payout ratio is currently 672.26%.

Insider Buying and Selling

In other news, insider Saverio Mayer sold 25,000 shares of the business's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $54.84, for a total transaction of $1,371,000.00. Following the completion of the transaction, the insider now directly owns 149,911 shares in the company, valued at approximately $8,221,119.24. The trade was a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.49% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Smurfit Westrock from $65.00 to $69.00 and gave the stock an "overweight" rating in a research report on Friday, November 29th. Redburn Atlantic initiated coverage on Smurfit Westrock in a research report on Friday, August 23rd. They issued a "buy" rating and a $60.00 target price on the stock. Argus assumed coverage on shares of Smurfit Westrock in a research report on Thursday. They set a "buy" rating and a $62.00 price target for the company. Morgan Stanley upped their price target on shares of Smurfit Westrock from $60.00 to $64.00 and gave the company an "overweight" rating in a report on Thursday, November 14th. Finally, Citigroup started coverage on shares of Smurfit Westrock in a report on Wednesday, October 23rd. They set a "buy" rating and a $57.00 price objective for the company. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $59.00.

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.