Bank Pictet & Cie Europe AG Invests $1.48 Million in Smurfit Westrock Ltd (NYSE:SW)

Bank Pictet & Cie Europe AG purchased a new stake in Smurfit Westrock Ltd (NYSE:SW) during the third quarter, according to its most recent filing with the SEC. The fund purchased 29,938 shares of the company’s stock, valued at approximately $1,480,000.

Several other hedge funds have also bought and sold shares of the stock. Vontobel Holding Ltd. purchased a new stake in shares of Smurfit Westrock in the third quarter worth about $62,832,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Smurfit Westrock during the 3rd quarter worth approximately $39,627,000. Boston Common Asset Management LLC purchased a new position in shares of Smurfit Westrock in the third quarter valued at $16,262,000. Swedbank AB bought a new stake in Smurfit Westrock in the third quarter worth $13,656,000. Finally, AMF Tjanstepension AB purchased a new stake in Smurfit Westrock during the third quarter valued at $8,519,000. Hedge funds and other institutional investors own 83.38% of the company’s stock.

Smurfit Westrock Stock Up 0.8 %

SW stock opened at $44.54 on Wednesday. Smurfit Westrock Ltd has a 12 month low of $38.55 and a 12 month high of $50.60. The business has a 50-day moving average of $45.83. The stock has a market cap of $11.45 billion, a P/E ratio of 37.43 and a beta of 1.05.

Smurfit Westrock (NYSE:SW) last issued its earnings results on Tuesday, July 30th. The company reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.06). The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $7.91 billion. Smurfit Westrock had a return on equity of 7.13% and a net margin of 1.36%. As a group, analysts predict that Smurfit Westrock Ltd will post 2.6 earnings per share for the current fiscal year.

Smurfit Westrock Dividend Announcement

The company also recently announced a semi-annual dividend, which was paid on Wednesday, September 18th. Shareholders of record on Thursday, August 15th were issued a $0.3025 dividend. This represents a dividend yield of 2.5%. The ex-dividend date of this dividend was Thursday, August 15th. Smurfit Westrock’s dividend payout ratio is 101.68%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Jefferies Financial Group restated a “hold” rating and set a $52.00 target price on shares of Smurfit Westrock in a research report on Monday, July 29th. Morgan Stanley started coverage on Smurfit Westrock in a report on Friday, July 19th. They issued an “overweight” rating and a $60.00 target price for the company. Royal Bank of Canada restated a “sector perform” rating and set a $52.00 price target on shares of Smurfit Westrock in a report on Wednesday, July 31st. JPMorgan Chase & Co. dropped their price objective on shares of Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, Citigroup assumed coverage on shares of Smurfit Westrock in a research note on Wednesday. They issued a “buy” rating and a $57.00 target price on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Smurfit Westrock presently has an average rating of “Moderate Buy” and an average price target of $56.57.

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.