Banque Pictet & Cie SA Acquires 189,975 Shares of Smurfit Westrock Ltd (NYSE:SW)

Banque Pictet & Cie SA increased its stake in shares of Smurfit Westrock Ltd (NYSE:SW - Free Report) by 134.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 331,019 shares of the company's stock after acquiring an additional 189,975 shares during the period. Banque Pictet & Cie SA owned about 0.06% of Smurfit Westrock worth $17,829,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp bought a new stake in shares of Smurfit Westrock in the third quarter worth $967,582,000. Geode Capital Management LLC bought a new stake in Smurfit Westrock during the 3rd quarter worth about $627,244,000. FMR LLC acquired a new position in shares of Smurfit Westrock during the 3rd quarter worth about $431,653,000. Mizuho Securities USA LLC acquired a new position in shares of Smurfit Westrock during the 3rd quarter worth about $386,712,000. Finally, Soros Fund Management LLC bought a new position in shares of Smurfit Westrock in the 3rd quarter valued at about $340,848,000. 83.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SW. Citigroup upped their target price on Smurfit Westrock from $61.00 to $62.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Barclays increased their price objective on Smurfit Westrock from $60.00 to $68.00 and gave the company an "overweight" rating in a report on Wednesday, December 11th. Argus assumed coverage on shares of Smurfit Westrock in a report on Thursday, December 5th. They set a "buy" rating and a $62.00 target price on the stock. Truist Financial started coverage on shares of Smurfit Westrock in a research note on Tuesday, January 21st. They issued a "buy" rating and a $62.00 price target for the company. Finally, Morgan Stanley boosted their price objective on shares of Smurfit Westrock from $60.00 to $64.00 and gave the stock an "overweight" rating in a research note on Thursday, November 14th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $60.70.

Smurfit Westrock Stock Performance

Shares of SW stock traded up $1.65 during midday trading on Tuesday, hitting $55.30. 3,193,274 shares of the company were exchanged, compared to its average volume of 3,425,033. The firm has a market capitalization of $28.78 billion, a P/E ratio of 307.22 and a beta of 1.02. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.48. Smurfit Westrock Ltd has a 52 week low of $38.55 and a 52 week high of $56.99. The firm's 50 day moving average price is $53.52 and its two-hundred day moving average price is $49.76.

Smurfit Westrock (NYSE:SW - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $0.34 EPS for the quarter, missing the consensus estimate 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%. As a group, equities research analysts anticipate that Smurfit Westrock Ltd will post 2.65 earnings per share for the current year.

Smurfit Westrock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Friday, February 14th will be given a dividend of $0.4308 per share. This is a boost from Smurfit Westrock's previous quarterly dividend of $0.30. The ex-dividend date is Friday, February 14th. This represents a $1.72 annualized dividend and a yield of 3.12%. Smurfit Westrock's dividend payout ratio (DPR) is presently 672.26%.

Insider Transactions at Smurfit Westrock

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

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.