Smurfit Westrock PLC $SW Shares Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management cut its Smurfit Westrock stake by 52.4% in the first quarter, selling about 1.56 million shares. The fund still held 1.42 million shares worth roughly $56.6 million.
• Smurfit Westrock shares were down 1.8% and opened at $46.13, putting the company’s market cap at about $24.19 billion. The stock has traded between $32.73 and $52.65 over the past year.
• The company missed earnings estimates in its latest quarter, posting $0.33 EPS versus expectations of $0.36, though revenue came in slightly above forecasts at $7.71 billion. Analysts still maintain a Moderate Buy consensus with a $53.33 price target, and the stock yields 3.9% after its recent quarterly dividend.

Pictet Asset Management Holding SA lowered its stake in Smurfit Westrock PLC (NYSE:SW - Free Report) by 52.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,419,085 shares of the company's stock after selling 1,559,937 shares during the period. Pictet Asset Management Holding SA owned 0.27% of Smurfit Westrock worth $56,551,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. AQR Capital Management LLC increased its holdings in Smurfit Westrock by 90.5% in the first quarter. AQR Capital Management LLC now owns 13,425 shares of the company's stock valued at $593,000 after buying an additional 6,378 shares during the last quarter. Integrated Wealth Concepts LLC raised its stake in Smurfit Westrock by 6.7% during the first quarter. Integrated Wealth Concepts LLC now owns 5,501 shares of the company's stock valued at $248,000 after buying an additional 346 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Smurfit Westrock by 5.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,559 shares of the company's stock worth $2,188,000 after buying an additional 2,698 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in Smurfit Westrock by 192.3% during the 1st quarter. NewEdge Advisors LLC now owns 13,264 shares of the company's stock worth $598,000 after buying an additional 8,726 shares during the last quarter. Finally, Woodline Partners LP grew its position in shares of Smurfit Westrock by 40.8% in the 1st quarter. Woodline Partners LP now owns 41,772 shares of the company's stock worth $1,882,000 after acquiring an additional 12,096 shares in the last quarter. Institutional investors and hedge funds own 83.38% of the company's stock.

Smurfit Westrock Stock Down 1.8%

Shares of Smurfit Westrock stock opened at $46.13 on Tuesday. The stock has a market capitalization of $24.19 billion, a price-to-earnings ratio of 64.06, a PEG ratio of 0.94 and a beta of 0.96. Smurfit Westrock PLC has a twelve month low of $32.73 and a twelve month high of $52.65. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 0.73. The business's 50 day simple moving average is $41.36 and its 200-day simple moving average is $41.78.

Smurfit Westrock (NYSE:SW - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). Smurfit Westrock had a net margin of 1.22% and a return on equity of 4.96%. The company had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.57 billion. During the same quarter in the prior year, the firm earned $0.74 EPS. The company's revenue for the quarter was up .7% compared to the same quarter last year. Equities research analysts forecast that Smurfit Westrock PLC will post 2.31 earnings per share for the current year.

Smurfit Westrock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were given a dividend of $0.4523 per share. The ex-dividend date was Friday, May 15th. This represents a $1.81 annualized dividend and a dividend yield of 3.9%. Smurfit Westrock's dividend payout ratio is currently 250.00%.

Analysts Set New Price Targets

Several research firms recently issued reports on SW. Citigroup dropped their price target on Smurfit Westrock from $53.00 to $51.00 and set a "buy" rating on the stock in a research report on Monday, May 4th. Royal Bank Of Canada decreased their price objective on shares of Smurfit Westrock from $54.00 to $53.00 and set an "outperform" rating for the company in a report on Friday, May 1st. Weiss Ratings reiterated a "hold (c)" rating on shares of Smurfit Westrock in a research note on Friday, May 29th. Truist Financial set a $50.00 target price on shares of Smurfit Westrock in a report on Friday, May 1st. Finally, Wells Fargo & Company reduced their price target on shares of Smurfit Westrock from $55.00 to $50.00 and set an "overweight" rating on the stock in a research report on Friday, March 20th. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Smurfit Westrock currently has a consensus rating of "Moderate Buy" and a consensus price target of $53.33.

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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