Allstate Corp Has $1.45 Million Stock Position in Smurfit Westrock PLC $SW

Allstate Corp boosted its holdings in shares of Smurfit Westrock PLC (NYSE:SW) by 106.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,542 shares of the company’s stock after buying an additional 19,368 shares during the quarter. Allstate Corp’s holdings in Smurfit Westrock were worth $1,452,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SW. State Street Corp lifted its stake in Smurfit Westrock by 14.6% during the third quarter. State Street Corp now owns 23,806,914 shares of the company’s stock worth $1,013,474,000 after purchasing an additional 3,027,125 shares during the last quarter. Orbis Allan Gray Ltd lifted its stake in Smurfit Westrock by 81.9% during the second quarter. Orbis Allan Gray Ltd now owns 18,400,418 shares of the company’s stock worth $793,978,000 after purchasing an additional 8,286,205 shares during the last quarter. Franklin Resources Inc. lifted its stake in Smurfit Westrock by 94.4% during the third quarter. Franklin Resources Inc. now owns 11,353,140 shares of the company’s stock worth $482,917,000 after purchasing an additional 5,511,887 shares during the last quarter. UBS Group AG lifted its stake in Smurfit Westrock by 272.0% during the third quarter. UBS Group AG now owns 11,240,153 shares of the company’s stock worth $478,493,000 after purchasing an additional 8,218,351 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Smurfit Westrock by 2.5% during the third quarter. Invesco Ltd. now owns 10,083,045 shares of the company’s stock worth $429,235,000 after purchasing an additional 246,041 shares during the last quarter. Institutional investors and hedge funds own 83.38% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on SW. JPMorgan Chase & Co. reduced their price target on Smurfit Westrock from $64.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Royal Bank Of Canada reduced their price target on Smurfit Westrock from $54.00 to $53.00 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Morgan Stanley reaffirmed an “overweight” rating and set a $57.00 price target on shares of Smurfit Westrock in a research report on Wednesday, May 6th. Zacks Research raised shares of Smurfit Westrock from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Finally, The Goldman Sachs Group began coverage on shares of Smurfit Westrock in a research report on Tuesday, March 24th. They set a “buy” rating and a $49.00 price target on the stock. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Smurfit Westrock currently has an average rating of “Moderate Buy” and a consensus target price of $53.00.

Smurfit Westrock Trading Up 0.3%

Shares of SW stock opened at $41.15 on Friday. The company has a 50 day moving average of $39.94 and a 200-day moving average of $40.49. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 0.73. Smurfit Westrock PLC has a 12-month low of $32.73 and a 12-month high of $52.65. The firm has a market cap of $21.58 billion, a P/E ratio of 57.16 and a beta of 0.95.

Smurfit Westrock (NYSE:SW) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). Smurfit Westrock had a net margin of 1.22% and a return on equity of 4.96%. The firm had revenue of $7.71 billion during the quarter, compared to the consensus estimate of $7.57 billion. During the same period in the previous year, the business earned $0.74 earnings per share. The firm’s revenue for the quarter was up .7% on a year-over-year basis. Sell-side analysts anticipate that Smurfit Westrock PLC will post 2.32 earnings per share for the current year.

Smurfit Westrock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th will be paid a dividend of $0.4523 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.81 dividend on an annualized basis and a dividend yield of 4.4%. Smurfit Westrock’s dividend payout ratio (DPR) is currently 251.39%.

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.