Smurfit Westrock PLC $SW Stock Sold by Banque Pictet & Cie SA

Key Points

• Banque Pictet & Cie SA cut its Smurfit Westrock stake by 69.8% in the third quarter, selling 187,727 shares and retaining 81,168 shares valued at approximately $3.58 million. Institutional investors and hedge funds collectively own 83.38% of the company.
• Smurfit Westrock reported quarterly earnings of $0.35 per share, missing analyst expectations of $0.42, while revenue reached $8.03 billion and increased 1.1% year over year.
• The company pays a quarterly dividend of $0.4523, equivalent to an annualized $1.81 and a 4.4% yield. Analysts remain generally positive, with an average “Moderate Buy” rating and a consensus price target of $56.69 versus a recent share price of $41.08.

Banque Pictet & Cie SA decreased its stake in shares of Smurfit Westrock PLC (NYSE:SW - Free Report) by 69.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 81,168 shares of the company's stock after selling 187,727 shares during the period. Banque Pictet & Cie SA's holdings in Smurfit Westrock were worth $3,580,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of SW. Root Financial Partners LLC raised its stake in Smurfit Westrock by 187.6% during the first quarter. Root Financial Partners LLC now owns 768 shares of the company's stock valued at $31,000 after buying an additional 501 shares in the last quarter. Axiom Investment Management LLC bought a new position in Smurfit Westrock during the 1st quarter worth approximately $62,000. Bessemer Group Inc. lifted its holdings in Smurfit Westrock by 93.1% during the 1st quarter. Bessemer Group Inc. now owns 3,208 shares of the company's stock worth $128,000 after buying an additional 1,547 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Smurfit Westrock during the 2nd quarter worth approximately $153,000. Finally, Continuum Advisory LLC acquired a new position in shares of Smurfit Westrock in the 2nd quarter worth approximately $172,000. 83.38% of the stock is currently owned by institutional investors and hedge funds.

Smurfit Westrock Trading Down 0.4%

NYSE:SW opened at $41.08 on Friday. Smurfit Westrock PLC has a 12-month low of $32.73 and a 12-month high of $52.65. The firm has a market capitalization of $21.55 billion, a P/E ratio of 43.70, a P/E/G ratio of 1.33 and a beta of 0.96. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.45 and a quick ratio of 0.96. The business has a 50 day simple moving average of $45.32 and a 200 day simple moving average of $43.58.

Smurfit Westrock (NYSE:SW - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.07). The firm had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.93 billion. Smurfit Westrock had a net margin of 1.59% and a return on equity of 4.60%. The company's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.05) earnings per share. Equities research analysts predict that Smurfit Westrock PLC will post 1.96 EPS for the current year.

Smurfit Westrock Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Friday, August 14th were paid a $0.4523 dividend. The ex-dividend date was Friday, August 14th. This represents a $1.81 annualized dividend and a dividend yield of 4.4%. Smurfit Westrock's dividend payout ratio (DPR) is presently 192.55%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SW. Wells Fargo & Company boosted their price target on Smurfit Westrock from $52.00 to $55.00 and gave the company an "overweight" rating in a report on Thursday, July 30th. Barclays raised their price objective on Smurfit Westrock from $52.00 to $56.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 4th. Loop Capital set a $71.00 price objective on Smurfit Westrock in a research note on Tuesday, July 28th. Weiss Ratings downgraded shares of Smurfit Westrock from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, October 8th. Finally, Morgan Stanley boosted their target price on shares of Smurfit Westrock from $57.00 to $58.00 and gave the company an "overweight" rating in a research note on Thursday, August 27th. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Smurfit Westrock presently has an average rating of "Moderate Buy" and an average target price of $56.69.

Smurfit Westrock Profile

Smurfit Westrock plc NYSE: SW is a global provider of paper-based packaging solutions. The company manufactures corrugated packaging, folding cartons, paper bags and sacks, beverage packaging, consumer packaging, point-of-sale displays, and other customized products designed to protect, transport, and present goods.

The company also operates paper mills, recycling facilities, and packaging-design and testing operations. Its products serve customers in industries including food and beverage, consumer goods, retail, industrial products, and e-commerce.

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