Smurfit Westrock Ltd (NYSE:SW) Shares Sold by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG lessened its stake in shares of Smurfit Westrock Ltd (NYSE:SW - Free Report) by 29.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,874 shares of the company's stock after selling 12,230 shares during the quarter. Bank Pictet & Cie Europe AG's holdings in Smurfit Westrock were worth $1,346,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. US Bancorp DE lifted its stake in shares of Smurfit Westrock by 10.0% in the fourth quarter. US Bancorp DE now owns 17,602 shares of the company's stock worth $948,000 after acquiring an additional 1,601 shares in the last quarter. NBC Securities Inc. lifted its stake in shares of Smurfit Westrock by 127,600.0% in the first quarter. NBC Securities Inc. now owns 1,277 shares of the company's stock worth $57,000 after acquiring an additional 1,276 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Smurfit Westrock by 12.5% in the fourth quarter. Geode Capital Management LLC now owns 14,328,052 shares of the company's stock worth $769,977,000 after acquiring an additional 1,594,939 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Smurfit Westrock by 45.5% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 13,151 shares of the company's stock worth $708,000 after acquiring an additional 4,115 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in shares of Smurfit Westrock by 79.0% in the fourth quarter. Jones Financial Companies Lllp now owns 7,869 shares of the company's stock worth $424,000 after acquiring an additional 3,473 shares in the last quarter. Institutional investors and hedge funds own 83.38% of the company's stock.

Wall Street Analyst Weigh In

SW has been the topic of several recent analyst reports. Morgan Stanley cut their price target on Smurfit Westrock from $66.00 to $64.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 11th. Royal Bank of Canada cut their price target on Smurfit Westrock from $57.00 to $56.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Truist Financial cut their price objective on Smurfit Westrock from $62.00 to $50.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company cut their price objective on Smurfit Westrock from $53.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Finally, Barclays cut their price objective on Smurfit Westrock from $68.00 to $64.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $58.20.

Smurfit Westrock Stock Down 2.5%

NYSE:SW opened at $41.95 on Monday. The firm has a market capitalization of $21.90 billion, a PE ratio of 76.27 and a beta of 1.04. The stock has a 50 day moving average of $42.73 and a 200-day moving average of $48.16. Smurfit Westrock Ltd has a 52 week low of $37.01 and a 52 week high of $56.99. The company has a current ratio of 1.37, a quick ratio of 0.89 and a debt-to-equity ratio of 0.72.

Smurfit Westrock (NYSE:SW - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.65 by $0.08. The company had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.41 billion. Smurfit Westrock had a return on equity of 6.16% and a net margin of 0.63%. The firm's revenue for the quarter was up 161.3% compared to the same quarter last year. Analysts predict that Smurfit Westrock Ltd will post 3.25 EPS for the current year.

Smurfit Westrock Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, June 18th. Investors of record on Monday, May 19th will be issued a $0.4308 dividend. This represents a yield of 3.7%. The ex-dividend date of this dividend is Friday, May 16th. Smurfit Westrock's dividend payout ratio (DPR) is 140.98%.

Insider Buying and Selling

In other news, Director Irial Finan bought 15,180 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was purchased at an average cost of $39.21 per share, for a total transaction of $595,207.80. Following the completion of the transaction, the director now directly owns 54,893 shares of the company's stock, valued at approximately $2,152,354.53. This trade represents a 38.22% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.49% of the company's stock.

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.

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