DAVENPORT & Co LLC Has $2.51 Million Holdings in Smurfit Westrock PLC $SW

DAVENPORT & Co LLC grew its stake in Smurfit Westrock PLC (NYSE:SW) by 2.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,098 shares of the company’s stock after buying an additional 1,236 shares during the quarter. DAVENPORT & Co LLC’s holdings in Smurfit Westrock were worth $2,507,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NBC Securities Inc. boosted its holdings in shares of Smurfit Westrock by 127,600.0% in the first quarter. NBC Securities Inc. now owns 1,277 shares of the company’s stock valued at $57,000 after buying an additional 1,276 shares during the period. Czech National Bank boosted its holdings in Smurfit Westrock by 6.7% during the second quarter. Czech National Bank now owns 121,218 shares of the company’s stock worth $5,231,000 after purchasing an additional 7,657 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in Smurfit Westrock by 106.3% during the first quarter. QRG Capital Management Inc. now owns 11,709 shares of the company’s stock worth $528,000 after purchasing an additional 6,032 shares during the last quarter. Centennial Wealth Advisory LLC acquired a new position in Smurfit Westrock during the second quarter worth $481,000. Finally, Foresight Group Ltd Liability Partnership acquired a new position in Smurfit Westrock during the first quarter worth $26,028,000. Institutional investors and hedge funds own 83.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Seaport Res Ptn upgraded shares of Smurfit Westrock from a “hold” rating to a “strong-buy” rating in a report on Monday. Wells Fargo & Company set a $52.00 target price on shares of Smurfit Westrock and gave the stock an “overweight” rating in a report on Tuesday. Jefferies Financial Group upgraded shares of Smurfit Westrock from a “hold” rating to a “buy” rating and increased their target price for the stock from $44.00 to $55.00 in a report on Monday, June 16th. JPMorgan Chase & Co. increased their target price on shares of Smurfit Westrock from $60.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday. Finally, UBS Group assumed coverage on shares of Smurfit Westrock in a report on Monday, September 15th. They set a “buy” rating and a $60.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $57.80.

Smurfit Westrock Stock Performance

NYSE SW opened at $43.37 on Thursday. The company has a current ratio of 1.45, a quick ratio of 0.95 and a debt-to-equity ratio of 0.73. The firm’s fifty day moving average price is $44.18 and its two-hundred day moving average price is $43.98. Smurfit Westrock PLC has a 1 year low of $37.01 and a 1 year high of $56.99. The firm has a market capitalization of $22.64 billion, a P/E ratio of 65.71 and a beta of 1.09.

Smurfit Westrock (NYSE:SW) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.12). Smurfit Westrock had a return on equity of 5.90% and a net margin of 1.14%.The firm had revenue of $7.94 billion for the quarter, compared to the consensus estimate of $7.88 billion. The firm’s quarterly revenue was up 167.4% compared to the same quarter last year. As a group, research analysts anticipate that Smurfit Westrock PLC will post 3.25 EPS for the current year.

Smurfit Westrock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Friday, August 15th were given a $0.4308 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.72 annualized dividend and a dividend yield of 4.0%. Smurfit Westrock’s dividend payout ratio is presently 260.61%.

Smurfit Westrock 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.