Pictet Asset Management Holding SA Sells 265,898 Shares of Smurfit Westrock Ltd (NYSE:SW)

Pictet Asset Management Holding SA lessened its position in shares of Smurfit Westrock Ltd (NYSE:SW) by 5.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,916,005 shares of the company’s stock after selling 265,898 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.94% of Smurfit Westrock worth $264,776,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC acquired a new stake in shares of Smurfit Westrock during the fourth quarter worth $25,000. Versant Capital Management Inc bought a new stake in Smurfit Westrock during the fourth quarter valued at $27,000. MassMutual Private Wealth & Trust FSB grew its holdings in Smurfit Westrock by 117.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 516 shares of the company’s stock worth $28,000 after acquiring an additional 279 shares during the period. Deseret Mutual Benefit Administrators bought a new position in shares of Smurfit Westrock in the 4th quarter worth about $30,000. Finally, Spire Wealth Management acquired a new position in shares of Smurfit Westrock in the 4th quarter valued at about $36,000. Institutional investors own 83.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SW. Citigroup raised their target price on Smurfit Westrock from $61.00 to $62.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Argus initiated coverage on shares of Smurfit Westrock in a research report on Thursday, December 5th. They set a “buy” rating and a $62.00 price objective for the company. Truist Financial started coverage on shares of Smurfit Westrock in a research report on Tuesday, January 21st. They set a “buy” rating and a $62.00 target price on the stock. Morgan Stanley reduced their price target on shares of Smurfit Westrock from $66.00 to $64.00 and set an “overweight” rating for the company in a report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Smurfit Westrock from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, November 29th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Smurfit Westrock presently has an average rating of “Moderate Buy” and a consensus target price of $60.70.

Smurfit Westrock Price Performance

SW stock opened at $45.47 on Friday. The company has a market capitalization of $23.73 billion, a P/E ratio of 82.67 and a beta of 0.99. Smurfit Westrock Ltd has a 52-week low of $38.55 and a 52-week high of $56.99. The business has a 50-day simple moving average of $50.68 and a two-hundred day simple moving average of $50.59. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.89 and a current ratio of 1.37.

Smurfit Westrock (NYSE:SW) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.33). Smurfit Westrock had a return on equity of 6.16% and a net margin of 0.63%. Research analysts expect that Smurfit Westrock Ltd will post 3.25 EPS for the current fiscal year.

Smurfit Westrock Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Friday, February 14th were given a dividend of $0.4308 per share. This is a positive change from Smurfit Westrock’s previous quarterly dividend of $0.30. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend was Friday, February 14th. Smurfit Westrock’s dividend payout ratio (DPR) is presently 312.73%.

Insider Buying and Selling

In other news, insider Ken Bowles sold 24,225 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $55.06, for a total transaction of $1,333,828.50. Following the completion of the sale, the insider now directly owns 111,458 shares of the company’s stock, valued at $6,136,877.48. This trade represents a 17.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Alvaro Henao sold 4,000 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $53.90, for a total transaction of $215,600.00. Following the completion of the transaction, the insider now directly owns 44,361 shares in the company, valued at $2,391,057.90. This trade represents a 8.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.49% of the stock is owned by corporate insiders.

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.