Smurfit Westrock (NYSE:SW) Price Target Raised to $69.00

Smurfit Westrock (NYSE:SW) had its target price boosted by JPMorgan Chase & Co. from $65.00 to $69.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the stock.

SW has been the subject of a number of other reports. Wells Fargo & Company decreased their price target on shares of Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, October 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $58.00 target price on shares of Smurfit Westrock in a research report on Friday, November 15th. Citigroup assumed 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 boosted their price target on Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Finally, Redburn Atlantic started coverage on shares of Smurfit Westrock in a research note on Friday, August 23rd. They issued a “buy” rating and a $60.00 target price for the company. Two 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $58.57.

Smurfit Westrock Price Performance

Smurfit Westrock stock opened at $55.02 on Friday. The stock has a market cap of $28.62 billion, a P/E ratio of 305.67 and a beta of 1.04. Smurfit Westrock has a 12 month low of $38.55 and a 12 month high of $56.99. 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 stock has a 50-day moving average price of $49.48.

Smurfit Westrock Announces Dividend

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 2.20%. The ex-dividend date of this dividend is Friday, November 15th. Smurfit Westrock’s dividend payout ratio is presently 672.22%.

Hedge Funds Weigh In On Smurfit Westrock

A number of hedge funds and other institutional investors have 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 $967,582,000. Geode Capital Management LLC acquired a new position in Smurfit Westrock during the 3rd quarter valued at about $627,244,000. FMR LLC bought a new position in Smurfit Westrock in the 3rd quarter worth about $431,653,000. Mizuho Securities USA LLC acquired a new stake in shares of Smurfit Westrock in the third quarter valued at approximately $386,712,000. Finally, Soros Fund Management LLC bought a new stake in shares of Smurfit Westrock during the third quarter valued at approximately $340,848,000. 83.38% of the stock is currently owned by institutional investors and hedge funds.

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.