Bank of New York Mellon Corp Has $370.10 Million Position in Smurfit Westrock PLC $SW

Bank of New York Mellon Corp lifted its holdings in shares of Smurfit Westrock PLC (NYSE:SW) by 2.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,693,951 shares of the company’s stock after buying an additional 193,099 shares during the period. Bank of New York Mellon Corp owned about 1.67% of Smurfit Westrock worth $370,101,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in Smurfit Westrock by 1.6% during the second quarter. Vanguard Group Inc. now owns 80,421,330 shares of the company’s stock valued at $3,472,329,000 after purchasing an additional 1,233,997 shares during the last quarter. State Street Corp raised its stake in shares of Smurfit Westrock by 1.7% during the 2nd quarter. State Street Corp now owns 20,779,789 shares of the company’s stock worth $896,661,000 after purchasing an additional 339,787 shares in the last quarter. Orbis Allan Gray Ltd raised its stake in shares of Smurfit Westrock by 81.9% during the 2nd 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 in the last quarter. Norges Bank acquired a new stake in shares of Smurfit Westrock in the 2nd quarter valued at approximately $749,735,000. Finally, Soros Fund Management LLC grew its stake in shares of Smurfit Westrock by 9.2% in the second quarter. Soros Fund Management LLC now owns 7,480,587 shares of the company’s stock valued at $322,787,000 after buying an additional 627,922 shares in the last quarter. Institutional investors and hedge funds own 83.38% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on SW shares. Wells Fargo & Company dropped their price target on shares of Smurfit Westrock from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 6th. Citigroup dropped their target price on shares of Smurfit Westrock from $49.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, January 6th. Argus reduced their price target on Smurfit Westrock from $55.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, December 9th. JPMorgan Chase & Co. boosted their price target on Smurfit Westrock from $60.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, October 6th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Smurfit Westrock in a research report on Thursday, January 8th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.60.

Smurfit Westrock Stock Performance

NYSE:SW opened at $42.13 on Friday. The stock has a 50 day simple moving average of $39.01 and a 200 day simple moving average of $41.41. The stock has a market cap of $22.00 billion, a P/E ratio of 29.46 and a beta of 1.09. Smurfit Westrock PLC has a 1-year low of $32.73 and a 1-year high of $55.54. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 0.72.

Smurfit Westrock (NYSE:SW) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.10). The firm had revenue of $8 billion for the quarter, compared to the consensus estimate of $7.89 billion. Smurfit Westrock had a return on equity of 6.21% and a net margin of 2.40%.The company’s revenue for the quarter was up 4.3% on a year-over-year basis. Research analysts anticipate that Smurfit Westrock PLC will post 3.25 earnings per share for the current year.

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.