US Bancorp DE Acquires New Stake in Smurfit Westrock Ltd (NYSE:SW)

US Bancorp DE purchased 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. The firm purchased 16,001 shares of the company's stock, valued at approximately $791,000.

A number of other institutional investors have also modified their holdings of SW. Mather Group LLC. acquired a new stake in Smurfit Westrock in the third quarter valued at approximately $25,000. CVA Family Office LLC purchased a new stake in Smurfit Westrock in the 3rd quarter worth $26,000. ORG Wealth Partners LLC acquired a new position in Smurfit Westrock during the third quarter worth $32,000. Waldron Private Wealth LLC acquired a new position in Smurfit Westrock during the third quarter worth $35,000. Finally, Cromwell Holdings LLC acquired a new stake in shares of Smurfit Westrock in the third quarter valued at about $42,000. Hedge funds and other institutional investors own 83.38% of the company's stock.

Smurfit Westrock Price Performance

SW traded down $1.06 during trading hours on Friday, reaching $52.39. The company's stock had a trading volume of 3,590,553 shares, compared to its average volume of 4,019,071. The stock has a market cap of $27.21 billion, a PE ratio of 291.07 and a beta of 1.04. Smurfit Westrock Ltd has a fifty-two week low of $38.55 and a fifty-two week high of $54.32. 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 business has a 50-day moving average of $47.09.

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 given a dividend of $0.3025 per share. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Friday, November 15th. Smurfit Westrock's payout ratio is 672.26%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SW. Jefferies Financial Group reaffirmed a "hold" rating and issued a $52.00 price target on shares of Smurfit Westrock in a research note on Monday, July 29th. JPMorgan Chase & Co. lowered 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. Wells Fargo & Company reduced their price objective on Smurfit Westrock from $53.00 to $50.00 and set an "equal weight" rating for the company in a research note on Monday, October 7th. Citigroup initiated coverage on shares of Smurfit Westrock in a research note on Wednesday, October 23rd. They set a "buy" rating and a $57.00 target price on the stock. Finally, Royal Bank of Canada upgraded shares of Smurfit Westrock from a "sector perform" rating to an "outperform" rating and increased their target price for the company from $52.00 to $58.00 in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $57.43.

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.