CIBC Bancorp USA Inc. Acquires New Holdings in Smurfit Westrock PLC $SW

CIBC Bancorp USA Inc. acquired a new position in shares of Smurfit Westrock PLC (NYSE:SW) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 318,720 shares of the company’s stock, valued at approximately $13,568,000. CIBC Bancorp USA Inc. owned about 0.06% of Smurfit Westrock as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. TD Waterhouse Canada Inc. raised its stake in shares of Smurfit Westrock by 113.3% during the third quarter. TD Waterhouse Canada Inc. now owns 640 shares of the company’s stock valued at $27,000 after acquiring an additional 340 shares during the last quarter. CYBER HORNET ETFs LLC acquired a new stake in shares of Smurfit Westrock in the second quarter valued at about $29,000. Root Financial Partners LLC bought a new position in shares of Smurfit Westrock during the third quarter worth about $33,000. Rexford Capital Inc. bought a new position in shares of Smurfit Westrock during the second quarter worth about $35,000. Finally, Groupe la Francaise acquired a new position in shares of Smurfit Westrock in the second quarter worth approximately $51,000. Institutional investors and hedge funds own 83.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on SW shares. Royal Bank Of Canada raised their price target on shares of Smurfit Westrock from $51.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Truist Financial set a $60.00 price target on Smurfit Westrock in a report on Thursday, February 12th. Wells Fargo & Company boosted their price objective on Smurfit Westrock from $48.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, February 12th. Morgan Stanley cut their price objective on shares of Smurfit Westrock from $61.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, March 6th. Finally, Barclays boosted their target price on Smurfit Westrock from $47.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, February 17th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.10.

Smurfit Westrock Price Performance

Smurfit Westrock stock opened at $36.94 on Friday. Smurfit Westrock PLC has a 52 week low of $32.73 and a 52 week high of $52.65. The company’s 50 day moving average price is $44.18 and its two-hundred day moving average price is $41.30. The stock has a market cap of $19.37 billion, a P/E ratio of 27.77 and a beta of 1.06. The company has a quick ratio of 0.95, a current ratio of 1.48 and a debt-to-equity ratio of 0.73.

Smurfit Westrock (NYSE:SW) last released its earnings results on Wednesday, February 11th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.12). The business had revenue of $7.58 billion during the quarter, compared to the consensus estimate of $7.63 billion. Smurfit Westrock had a net margin of 2.24% and a return on equity of 6.10%. The business’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the company earned $0.28 earnings per share. On average, equities analysts predict that Smurfit Westrock PLC will post 3.25 earnings per share for the current year.

Smurfit Westrock Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Tuesday, February 17th were paid a $0.4523 dividend. This is a boost from Smurfit Westrock’s previous quarterly dividend of $0.43. The ex-dividend date was Tuesday, February 17th. This represents a $1.81 dividend on an annualized basis and a yield of 4.9%. Smurfit Westrock’s dividend payout ratio is currently 136.09%.

Insiders Place Their Bets

In other news, CFO Ken Bowles sold 10,000 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $51.26, for a total transaction of $512,600.00. Following the completion of the sale, the chief financial officer directly owned 151,644 shares of the company’s stock, valued at $7,773,271.44. This trade represents a 6.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Anthony P. J. Smurfit sold 40,000 shares of Smurfit Westrock stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $51.54, for a total value of $2,061,600.00. Following the sale, the chief executive officer owned 1,642,610 shares in the company, valued at $84,660,119.40. The trade was a 2.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.49% of the stock is owned by corporate insiders.

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.