Pictet Asset Management Holding SA Sells 24,952 Shares of Smurfit Westrock PLC $SW

Pictet Asset Management Holding SA reduced its position in shares of Smurfit Westrock PLC (NYSE:SW - Free Report) by 1.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,361,786 shares of the company's stock after selling 24,952 shares during the period. Pictet Asset Management Holding SA owned approximately 0.26% of Smurfit Westrock worth $60,055,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SW. Trinity Street Asset Management LLP acquired a new position in Smurfit Westrock during the 2nd quarter worth approximately $243,400,000. Bank of America Corp DE lifted its holdings in shares of Smurfit Westrock by 6.2% in the 1st quarter. Bank of America Corp DE now owns 5,460,163 shares of the company's stock valued at $217,587,000 after buying an additional 318,336 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Smurfit Westrock by 3.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,848,130 shares of the company's stock valued at $193,141,000 after buying an additional 160,510 shares during the period. Artemis Investment Management LLP boosted its stake in shares of Smurfit Westrock by 719.6% in the third quarter. Artemis Investment Management LLP now owns 3,214,979 shares of the company's stock valued at $141,781,000 after buying an additional 2,822,720 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. purchased a new stake in shares of Smurfit Westrock in the second quarter valued at approximately $120,660,000. 83.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SW has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their price objective on Smurfit Westrock from $69.00 to $57.00 and set an "overweight" rating for the company in a research report on Thursday, October 29th. Wells Fargo & Company boosted their target price on shares of Smurfit Westrock from $52.00 to $55.00 and gave the stock an "overweight" rating in a research report on Thursday, July 30th. Citigroup lowered their price target on shares of Smurfit Westrock from $54.00 to $50.00 and set a "buy" rating on the stock in a research note on Monday, November 2nd. Morgan Stanley increased their price target on shares of Smurfit Westrock from $57.00 to $58.00 and gave the company an "overweight" rating in a report on Thursday, August 27th. Finally, Truist Financial reduced their price objective on shares of Smurfit Westrock from $54.00 to $51.00 and set a "buy" rating for the company in a research note on Thursday, October 29th. Eleven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $55.15.

Smurfit Westrock Stock Up 0.3%

Smurfit Westrock stock opened at $44.22 on Tuesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.48. The firm has a market capitalization of $23.19 billion, a price-to-earnings ratio of 30.74, a price-to-earnings-growth ratio of 1.84 and a beta of 1.01. Smurfit Westrock PLC has a fifty-two week low of $32.73 and a fifty-two week high of $52.65. The stock's fifty day moving average is $43.43 and its two-hundred day moving average is $43.56.

Smurfit Westrock (NYSE:SW - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.15). Smurfit Westrock had a return on equity of 4.27% and a net margin of 1.50%. The firm had revenue of $8.16 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same period last year, the firm earned $0.58 EPS. The company's quarterly revenue was up 2.0% compared to the same quarter last year. Analysts predict that Smurfit Westrock PLC will post 1.71 EPS for the current fiscal year.

Smurfit Westrock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, November 13th will be given a dividend of $0.4523 per share. The ex-dividend date is Friday, November 13th. This represents a $1.81 dividend on an annualized basis and a yield of 4.1%. Smurfit Westrock's payout ratio is presently 203.37%.

About Smurfit Westrock

Smurfit Westrock is a global paper-based packaging company formed in 2024 through the combination of Smurfit Kappa Group and WestRock. Headquartered in Dublin, Ireland, the company serves customers across a range of industries and markets worldwide.

Its business includes producing paper and packaging materials, as well as designing and manufacturing packaging for consumer and commercial uses. Products include corrugated packaging, consumer packaging, containerboard, paper sacks and bag-in-box packaging.

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