Bank Pictet & Cie Europe AG Buys 27,086 Shares of Smurfit Westrock PLC $SW

Key Points

• Bank Pictet & Cie Europe AG increased its stake in Smurfit Westrock PLC by 90.7%, acquiring an additional 27,086 shares and bringing its total holdings to 56,960 shares worth approximately $2.46 million.
• Several institutional investors have raised their stakes in Smurfit Westrock, with 83.38% of the stock now owned by such entities.
• Smurfit Westrock reported a quarterly earnings miss of $0.12 against analyst expectations, with a net margin of 1.14% and revenue growth of 167.4% year-over-year.

Bank Pictet & Cie Europe AG boosted its stake in shares of Smurfit Westrock PLC (NYSE:SW - Free Report) by 90.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,960 shares of the company's stock after acquiring an additional 27,086 shares during the period. Bank Pictet & Cie Europe AG's holdings in Smurfit Westrock were worth $2,458,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Moody National Bank Trust Division raised its stake in Smurfit Westrock by 1.7% in the second quarter. Moody National Bank Trust Division now owns 15,001 shares of the company's stock valued at $647,000 after purchasing an additional 255 shares in the last quarter. Parallel Advisors LLC increased its holdings in Smurfit Westrock by 21.8% in the 2nd quarter. Parallel Advisors LLC now owns 1,494 shares of the company's stock valued at $64,000 after buying an additional 267 shares during the period. Versant Capital Management Inc raised its position in shares of Smurfit Westrock by 54.0% in the 1st quarter. Versant Capital Management Inc now owns 779 shares of the company's stock valued at $35,000 after buying an additional 273 shares in the last quarter. Edmond DE Rothschild Holding S.A. lifted its holdings in shares of Smurfit Westrock by 6.1% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 5,053 shares of the company's stock worth $226,000 after acquiring an additional 290 shares during the period. Finally, Exchange Traded Concepts LLC increased its stake in Smurfit Westrock by 20.7% in the first quarter. Exchange Traded Concepts LLC now owns 1,721 shares of the company's stock valued at $78,000 after acquiring an additional 295 shares during the last quarter. 83.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Truist Financial upped their target price on Smurfit Westrock from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Barclays lowered their price target on Smurfit Westrock from $64.00 to $63.00 and set an "overweight" rating for the company in a report on Monday, June 30th. Wells Fargo & Company raised their price objective on Smurfit Westrock from $45.00 to $46.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. UBS Group assumed coverage on Smurfit Westrock in a research note on Monday, September 15th. They set a "buy" rating and a $60.00 target price for the company. Finally, Morgan Stanley raised their price target on shares of Smurfit Westrock from $51.00 to $53.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $58.00.

Smurfit Westrock Stock Performance

NYSE:SW opened at $42.33 on Friday. The stock has a market cap of $22.10 billion, a P/E ratio of 64.13 and a beta of 1.04. The company has a current ratio of 1.45, a quick ratio of 0.95 and a debt-to-equity ratio of 0.73. The stock's 50-day moving average is $45.13 and its 200-day moving average is $44.14. Smurfit Westrock PLC has a 1-year low of $37.01 and a 1-year high of $56.99.

Smurfit Westrock (NYSE:SW - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.57 by ($0.12). Smurfit Westrock had a net margin of 1.14% and a return on equity of 5.90%. The business had revenue of $7.94 billion during the quarter, compared to the consensus estimate of $7.88 billion. The company's revenue was up 167.4% on a year-over-year basis. Equities research analysts anticipate that Smurfit Westrock PLC will post 3.25 earnings per share for the current year.

Smurfit Westrock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Friday, August 15th were issued a dividend of $0.4308 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Friday, August 15th. Smurfit Westrock's payout ratio is 260.61%.

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.

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