Banque Pictet & Cie SA Has $11.25 Million Position in Smurfit Westrock PLC (NYSE:SW)

Banque Pictet & Cie SA lessened its position in shares of Smurfit Westrock PLC (NYSE:SW - Free Report) by 24.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 249,570 shares of the company's stock after selling 81,449 shares during the quarter. Banque Pictet & Cie SA's holdings in Smurfit Westrock were worth $11,246,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. University of Texas Texas AM Investment Management Co. bought a new position in shares of Smurfit Westrock during the 4th quarter worth approximately $30,000. Tsfg LLC bought a new position in shares of Smurfit Westrock during the first quarter valued at $30,000. Versant Capital Management Inc boosted its stake 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 purchasing an additional 273 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in shares of Smurfit Westrock in the 1st quarter worth about $40,000. Finally, Huntington National Bank acquired a new stake in shares of Smurfit Westrock during the 4th quarter worth about $50,000. 83.38% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Irial Finan bought 15,180 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were purchased at an average cost of $39.21 per share, for a total transaction of $595,207.80. Following the acquisition, the director owned 54,893 shares of the company's stock, valued at approximately $2,152,354.53. This represents a 38.22% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.49% of the company's stock.

Smurfit Westrock Trading Down 1.7%

NYSE SW traded down $0.83 during trading hours on Friday, hitting $47.19. The company's stock had a trading volume of 1,852,615 shares, compared to its average volume of 4,196,152. Smurfit Westrock PLC has a twelve month low of $37.01 and a twelve month high of $56.99. The firm has a market capitalization of $24.63 billion, a P/E ratio of 38.68 and a beta of 1.02. The company has a quick ratio of 0.93, a current ratio of 1.43 and a debt-to-equity ratio of 0.72. The stock has a fifty day moving average of $43.98 and a 200 day moving average of $47.03.

Smurfit Westrock (NYSE:SW - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.08. Smurfit Westrock had a net margin of 1.98% and a return on equity of 7.38%. The business had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.41 billion. The business's revenue was up 161.3% compared to the same quarter last year. Equities research analysts forecast that Smurfit Westrock PLC will post 3.25 earnings per share for the current fiscal year.

Smurfit Westrock Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SW shares. Royal Bank Of Canada reduced their price target on shares of Smurfit Westrock from $57.00 to $56.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Morgan Stanley raised their price target on Smurfit Westrock from $51.00 to $53.00 and gave the company an "overweight" rating in a report on Tuesday. Wells Fargo & Company boosted their price objective on Smurfit Westrock from $43.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Thursday. Truist Financial raised their target price on Smurfit Westrock from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Friday. Finally, Barclays reduced 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. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.90.

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.