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

Pictet Asset Management Holding SA lessened its holdings in shares of Smurfit Westrock PLC (NYSE:SW) by 52.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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’s holdings in Smurfit Westrock were worth $56,551,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in SW. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Smurfit Westrock in the 4th quarter valued at approximately $28,000. DV Equities LLC acquired a new position in Smurfit Westrock during the 4th quarter worth $28,000. CYBER HORNET ETFs LLC acquired a new position in Smurfit Westrock during the 2nd quarter worth $29,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Smurfit Westrock in the fourth quarter worth $31,000. Finally, McMillan Office Inc. bought a new position in shares of Smurfit Westrock in the fourth quarter worth $35,000. 83.38% of the stock is currently owned by institutional investors and hedge funds.

Smurfit Westrock Trading Down 1.8%

Shares of Smurfit Westrock stock opened at $46.13 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 0.73. The firm has a market cap of $24.19 billion, a price-to-earnings ratio of 64.06, a price-to-earnings-growth ratio of 0.94 and a beta of 0.96. The business has a fifty day simple moving average of $41.36 and a 200-day simple moving average of $41.78. Smurfit Westrock PLC has a fifty-two week low of $32.73 and a fifty-two week high of $52.65.

Smurfit Westrock (NYSE:SW) last announced its earnings results on Thursday, April 30th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $7.71 billion for the quarter, compared to the consensus estimate of $7.57 billion. Smurfit Westrock had a net margin of 1.22% and a return on equity of 4.96%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.74 EPS. On average, equities analysts forecast that Smurfit Westrock PLC will post 2.31 EPS for the current fiscal year.

Smurfit Westrock Dividend Announcement

The firm also recently disclosed 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 (DPR) is 250.00%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Citigroup cut their price objective on shares of Smurfit Westrock from $53.00 to $51.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. Barclays decreased their target price on shares of Smurfit Westrock from $54.00 to $52.00 and set an “overweight” rating for the company in a research report on Thursday, May 21st. Royal Bank Of Canada lowered their target price on shares of Smurfit Westrock from $54.00 to $53.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Zacks Research upgraded shares of Smurfit Westrock from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Finally, Truist Financial set a $50.00 price objective on shares of Smurfit Westrock in a report on Friday, May 1st. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Smurfit Westrock has an average rating of “Moderate Buy” and an average target price of $53.33.

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.