Banque Pictet & Cie SA Grows Position in Smurfit Westrock Ltd (NYSE:SW)

Banque Pictet & Cie SA grew its holdings in Smurfit Westrock Ltd (NYSE:SW) by 134.7% in the 4th quarter, HoldingsChannel reports. The firm owned 331,019 shares of the company’s stock after buying an additional 189,975 shares during the quarter. Banque Pictet & Cie SA’s holdings in Smurfit Westrock were worth $17,829,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Stephens Inc. AR boosted its stake in Smurfit Westrock by 3.7% in the fourth quarter. Stephens Inc. AR now owns 5,616 shares of the company’s stock valued at $302,000 after acquiring an additional 199 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Smurfit Westrock by 117.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 516 shares of the company’s stock valued at $28,000 after purchasing an additional 279 shares during the last quarter. DAVENPORT & Co LLC increased its holdings in shares of Smurfit Westrock by 0.5% during the fourth quarter. DAVENPORT & Co LLC now owns 55,898 shares of the company’s stock valued at $3,011,000 after acquiring an additional 299 shares in the last quarter. Contravisory Investment Management Inc. raised its position in shares of Smurfit Westrock by 2.6% in the 4th quarter. Contravisory Investment Management Inc. now owns 14,189 shares of the company’s stock valued at $764,000 after purchasing an additional 365 shares during the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new stake in Smurfit Westrock during the 4th quarter worth approximately $25,000. Hedge funds and other institutional investors own 83.38% of the company’s stock.

Smurfit Westrock Stock Performance

SW opened at $54.62 on Friday. The stock has a market cap of $28.43 billion, a P/E ratio of 303.43 and a beta of 1.02. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.48 and a quick ratio of 0.98. The firm has a fifty day moving average price of $53.56 and a 200 day moving average price of $49.56. Smurfit Westrock Ltd has a 1 year low of $38.55 and a 1 year high of $56.99.

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

Smurfit Westrock Increases Dividend

The business 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 $0.4308 dividend. This represents a $1.72 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Smurfit Westrock’s previous quarterly dividend of $0.30. Smurfit Westrock’s payout ratio is presently 672.26%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Truist Financial began coverage on shares of Smurfit Westrock in a research note on Tuesday, January 21st. They set a “buy” rating and a $62.00 price objective for the company. Morgan Stanley lifted their price target on Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Citigroup boosted their price target on Smurfit Westrock from $61.00 to $62.00 and gave the company a “buy” rating in a research note on Monday, January 6th. 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. Finally, Barclays upped 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. 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 company currently has an average rating of “Moderate Buy” and a consensus price target of $60.70.

Insiders Place Their Bets

In other Smurfit Westrock news, insider Saverio Mayer sold 25,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $54.84, for a total transaction of $1,371,000.00. Following the completion of the transaction, the insider now owns 149,911 shares of the company’s stock, valued at $8,221,119.24. This represents a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.49% of the stock is currently owned by company 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.