Bank Pictet & Cie Europe AG Buys 12,166 Shares of Smurfit Westrock Ltd (NYSE:SW)

Bank Pictet & Cie Europe AG raised its stake in Smurfit Westrock Ltd (NYSE:SW) by 40.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,104 shares of the company’s stock after acquiring an additional 12,166 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Smurfit Westrock were worth $2,268,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Retirement Wealth Solutions LLC bought a new position in shares of Smurfit Westrock during the fourth quarter worth approximately $25,000. Versant Capital Management Inc bought a new position in shares of Smurfit Westrock during the fourth quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Smurfit Westrock by 117.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 516 shares of the company’s stock worth $28,000 after purchasing an additional 279 shares during the period. Waldron Private Wealth LLC bought a new position in shares of Smurfit Westrock during the third quarter worth approximately $35,000. Finally, Spire Wealth Management bought a new position in shares of Smurfit Westrock during the fourth quarter worth approximately $36,000. 83.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SW. Morgan Stanley raised their target price on shares of Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Barclays increased their price target on shares of Smurfit Westrock from $60.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Truist Financial assumed coverage on shares of Smurfit Westrock in a research report on Tuesday, January 21st. They set a “buy” rating and a $62.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $58.00 price target on shares of Smurfit Westrock in a research report on Friday, November 15th. Finally, JPMorgan Chase & Co. increased their price target on shares of Smurfit Westrock from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, November 29th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $60.70.

Insider Activity

In other news, insider Saverio Mayer sold 25,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $54.84, for a total transaction of $1,371,000.00. Following the completion of the transaction, the insider now owns 149,911 shares of the company’s stock, valued at approximately $8,221,119.24. This trade represents a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.49% of the company’s stock.

Smurfit Westrock Stock Performance

Shares of Smurfit Westrock stock opened at $53.63 on Friday. Smurfit Westrock Ltd has a fifty-two week low of $38.55 and a fifty-two week high of $56.99. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.48 and a quick ratio of 0.98. The firm has a market capitalization of $27.92 billion, a P/E ratio of 297.98 and a beta of 1.02. The company’s 50 day moving average price is $53.56 and its two-hundred day moving average price is $49.59.

Smurfit Westrock (NYSE:SW) last issued its earnings results on Wednesday, February 12th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.33). Smurfit Westrock had a negative net margin of 0.12% and a positive return on equity of 5.98%. On average, equities analysts forecast that Smurfit Westrock Ltd will post 2.65 earnings per share for the current fiscal year.

Smurfit Westrock Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.4308 per share. The ex-dividend date is Friday, February 14th. This represents a $1.72 annualized dividend and a dividend yield of 3.21%. This is an increase from Smurfit Westrock’s previous quarterly dividend of $0.30. Smurfit Westrock’s dividend payout ratio (DPR) is presently 672.26%.

About Smurfit Westrock

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.