Wellington Management Group LLP Buys Shares of 273,313 Smurfit Westrock Ltd (NYSE:SW)

Wellington Management Group LLP bought a new position in shares of Smurfit Westrock Ltd (NYSE:SW - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 273,313 shares of the company's stock, valued at approximately $13,701,000. Wellington Management Group LLP owned 0.05% of Smurfit Westrock at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. State Street Corp acquired a new position in shares of Smurfit Westrock during the third quarter valued at about $967,582,000. FMR LLC bought a new position in Smurfit Westrock during the third quarter valued at about $431,653,000. Mizuho Securities USA LLC acquired a new position in Smurfit Westrock in the 3rd quarter valued at approximately $386,712,000. Soros Fund Management LLC bought a new stake in shares of Smurfit Westrock in the 3rd quarter worth approximately $340,848,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of Smurfit Westrock during the 3rd quarter worth approximately $151,212,000. 83.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on SW shares. Citigroup initiated coverage on Smurfit Westrock in a research note on Wednesday, October 23rd. They issued a "buy" rating and a $57.00 target price for the company. Morgan Stanley raised their price objective on shares of Smurfit Westrock from $60.00 to $64.00 and gave the stock an "overweight" rating in a report on Thursday, November 14th. Barclays upped their target price on shares of Smurfit Westrock from $60.00 to $68.00 and gave the company an "overweight" rating in a research note on Wednesday. JPMorgan Chase & Co. raised their price target on shares of Smurfit Westrock from $65.00 to $69.00 and gave the stock an "overweight" rating in a research note on Friday, November 29th. Finally, Wells Fargo & Company lowered their price objective on 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. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $60.00.

Smurfit Westrock Stock Performance

Shares of NYSE SW traded up $0.28 during mid-day trading on Friday, hitting $53.73. 2,440,098 shares of the stock were exchanged, compared to its average volume of 3,256,798. The firm has a market cap of $27.95 billion, a P/E ratio of 298.52 and a beta of 1.04. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.48. Smurfit Westrock Ltd has a twelve month low of $38.55 and a twelve month high of $56.99. The firm's fifty day moving average price is $50.71.

Smurfit Westrock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 15th will be given a $0.3025 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.21 annualized dividend and a yield of 2.25%. Smurfit Westrock's payout ratio is 672.26%.

Insiders Place Their Bets

In related news, insider Saverio Mayer sold 25,000 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $54.84, for a total value of $1,371,000.00. Following the completion of the sale, the insider now owns 149,911 shares of the company's stock, valued at $8,221,119.24. This trade represents a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.49% of the company's stock.

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.