Banque Pictet & Cie SA Acquires 106,040 Shares of Smurfit Westrock PLC $SW

Key Points

• Banque Pictet & Cie SA increased its ownership in Smurfit Westrock PLC by 42.5%, acquiring an additional 106,040 shares during the second quarter, bringing its total holdings to 355,610 shares valued at approximately $15.3 million.
• Analysts have recently set new price targets for Smurfit Westrock, with UBS Group initiating coverage at a "buy" rating with a $60.00 target, while Barclays lowered its price target from $64.00 to $63.00, maintaining an "overweight" rating.
• The company's latest quarterly earnings report showed a net margin of 1.14% and revenue of $7.94 billion, indicating a significant year-over-year increase of 167.4%, despite missing the earnings per share estimate.

Banque Pictet & Cie SA raised its holdings in Smurfit Westrock PLC (NYSE:SW - Free Report) by 42.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 355,610 shares of the company's stock after buying an additional 106,040 shares during the period. Banque Pictet & Cie SA owned about 0.07% of Smurfit Westrock worth $15,345,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SW. NBC Securities Inc. raised its holdings in Smurfit Westrock by 127,600.0% in the 1st quarter. NBC Securities Inc. now owns 1,277 shares of the company's stock valued at $57,000 after acquiring an additional 1,276 shares in the last quarter. Czech National Bank grew its holdings in Smurfit Westrock by 6.7% during the 2nd quarter. Czech National Bank now owns 121,218 shares of the company's stock worth $5,231,000 after acquiring an additional 7,657 shares during the last quarter. QRG Capital Management Inc. raised its position in Smurfit Westrock by 106.3% during the 1st quarter. QRG Capital Management Inc. now owns 11,709 shares of the company's stock worth $528,000 after purchasing an additional 6,032 shares during the last quarter. Foresight Group Ltd Liability Partnership acquired a new position in shares of Smurfit Westrock in the first quarter worth approximately $26,028,000. Finally, State of Alaska Department of Revenue lifted its position in shares of Smurfit Westrock by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 57,939 shares of the company's stock valued at $2,610,000 after acquiring an additional 1,600 shares during the period. Institutional investors own 83.38% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SW shares. Barclays dropped their price target on shares of Smurfit Westrock from $64.00 to $63.00 and set an "overweight" rating on the stock in a research report on Monday, June 30th. UBS Group assumed coverage on shares of Smurfit Westrock in a research report on Monday, September 15th. They set a "buy" rating and a $60.00 price objective on the stock. Truist Financial increased their price target on shares of Smurfit Westrock from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Wells Fargo & Company raised their price target on Smurfit Westrock from $45.00 to $46.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Finally, Jefferies Financial Group upgraded shares of Smurfit Westrock from a "hold" rating to a "buy" rating and upped their price objective for the stock from $44.00 to $55.00 in a report on Monday, June 16th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $58.00.

Smurfit Westrock Price Performance

Smurfit Westrock stock opened at $42.33 on Friday. Smurfit Westrock PLC has a 52-week low of $37.01 and a 52-week high of $56.99. The company has a market cap of $22.10 billion, a price-to-earnings ratio of 64.13 and a beta of 1.04. The firm's fifty day moving average is $45.13 and its 200 day moving average is $44.14. The company has a quick ratio of 0.95, a current ratio of 1.45 and a debt-to-equity ratio of 0.73.

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

Smurfit Westrock Announces Dividend

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