Bank Pictet & Cie Europe AG Purchases 12,166 Shares of Smurfit Westrock Ltd (NYSE:SW)

Bank Pictet & Cie Europe AG increased its position in shares of Smurfit Westrock Ltd (NYSE:SW) by 40.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,104 shares of the company’s stock after buying an additional 12,166 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Smurfit Westrock were worth $2,268,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Alpha Omega Wealth Management LLC bought a new position in Smurfit Westrock during the fourth quarter worth $5,252,000. Private Management Group Inc. bought a new position in Smurfit Westrock during the third quarter worth $9,405,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Smurfit Westrock by 29.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,487 shares of the company’s stock valued at $2,309,000 after purchasing an additional 9,581 shares in the last quarter. Intech Investment Management LLC bought a new stake in Smurfit Westrock in the third quarter valued at $597,000. Finally, Moors & Cabot Inc. bought a new stake in Smurfit Westrock in the third quarter valued at $520,000. Institutional investors own 83.38% of the company’s stock.

Smurfit Westrock Stock Down 1.9 %

Shares of NYSE SW opened at $53.63 on Friday. The stock has a market capitalization of $27.92 billion, a P/E ratio of 297.98 and a beta of 1.02. The company has a 50-day moving average price of $53.56 and a 200-day moving average price of $49.59. Smurfit Westrock Ltd has a 1 year low of $38.55 and a 1 year high of $56.99. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.48 and a quick ratio of 0.98.

Smurfit Westrock (NYSE:SW) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.33). Smurfit Westrock had a positive return on equity of 5.98% and a negative net margin of 0.12%. On average, equities research analysts forecast that Smurfit Westrock Ltd will post 2.65 EPS for the current fiscal year.

Smurfit Westrock Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Friday, February 14th will be issued a dividend of $0.4308 per share. The ex-dividend date is Friday, February 14th. This is a boost from Smurfit Westrock’s previous quarterly dividend of $0.30. This represents a $1.72 annualized dividend and a yield of 3.21%. Smurfit Westrock’s payout ratio is 672.26%.

Wall Street Analyst Weigh In

Several research firms have weighed in on SW. JPMorgan Chase & Co. lifted their price target on shares of Smurfit Westrock from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, November 29th. Argus began coverage on shares of Smurfit Westrock in a research note on Thursday, December 5th. They issued a “buy” rating and a $62.00 price target for the company. Barclays lifted their price target on shares of Smurfit Westrock from $60.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Truist Financial began coverage on shares of Smurfit Westrock in a research note on Tuesday, January 21st. They issued a “buy” rating and a $62.00 price target for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $58.00 price target on shares of Smurfit Westrock in a research note on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.70.

Insider Buying and Selling

In related news, insider Saverio Mayer sold 25,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $54.84, for a total transaction of $1,371,000.00. Following the transaction, the insider now directly owns 149,911 shares in the company, valued at approximately $8,221,119.24. The trade was a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.49% of the stock is owned by corporate insiders.

About Smurfit Westrock

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.