Banque Pictet & Cie SA Purchases 189,975 Shares of Smurfit Westrock Ltd (NYSE:SW)

Banque Pictet & Cie SA boosted its holdings in Smurfit Westrock Ltd (NYSE:SW) by 134.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 331,019 shares of the company’s stock after acquiring an additional 189,975 shares during the quarter. Banque Pictet & Cie SA owned 0.06% of Smurfit Westrock worth $17,829,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Retirement Wealth Solutions LLC bought a new position in Smurfit Westrock during the 4th quarter valued at about $25,000. Versant Capital Management Inc bought a new stake in shares of Smurfit Westrock in the fourth quarter worth $27,000. MassMutual Private Wealth & Trust FSB boosted its position in Smurfit Westrock by 117.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 516 shares of the company’s stock worth $28,000 after purchasing an additional 279 shares during the last quarter. Waldron Private Wealth LLC bought a new stake in shares of Smurfit Westrock during the 3rd quarter valued at about $35,000. Finally, Spire Wealth Management purchased a new stake in shares of Smurfit Westrock during the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 83.38% of the company’s stock.

Insider Activity

In related news, insider Saverio Mayer sold 25,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $54.84, for a total value of $1,371,000.00. Following the sale, the insider now directly owns 149,911 shares of the company’s stock, valued at $8,221,119.24. This represents a 14.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.49% of the company’s stock.

Smurfit Westrock Trading Up 7.2 %

Shares of Smurfit Westrock stock opened at $54.62 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.48 and a debt-to-equity ratio of 0.73. The firm has a market cap of $28.43 billion, a price-to-earnings ratio of 303.43 and a beta of 1.02. Smurfit Westrock Ltd has a twelve month low of $38.55 and a twelve month high of $56.99. The business has a 50-day moving average price of $53.56 and a 200-day moving average price of $49.56.

Smurfit Westrock (NYSE:SW) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.34 earnings per share (EPS) 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%. Equities research analysts anticipate that Smurfit Westrock Ltd will post 2.65 EPS for the current fiscal year.

Smurfit Westrock Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.4308 per share. 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 3.16%. The ex-dividend date is Friday, February 14th. Smurfit Westrock’s payout ratio is presently 672.26%.

Analysts Set New Price Targets

SW has been the subject of several recent research reports. Morgan Stanley boosted their target price on shares of Smurfit Westrock from $60.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Royal Bank of Canada restated an “outperform” rating and issued a $58.00 price objective on shares of Smurfit Westrock in a research note on Friday, November 15th. Barclays lifted their target price on Smurfit Westrock from $60.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Truist Financial began coverage on Smurfit Westrock in a research report on Tuesday, January 21st. They issued a “buy” rating and a $62.00 price target for the company. Finally, Argus started coverage on Smurfit Westrock in a research report on Thursday, December 5th. They set a “buy” rating and a $62.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $60.70.

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.