Wealthfront Advisers LLC lifted its stake in shares of WestRock (NYSE:WRK – Get Rating) by 58.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 56,001 shares of the basic materials company's stock after purchasing an additional 20,728 shares during the quarter. Wealthfront Advisers LLC's holdings in WestRock were worth $2,231,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Allworth Financial LP boosted its position in shares of WestRock by 634.2% in the 1st quarter. Allworth Financial LP now owns 558 shares of the basic materials company's stock worth $26,000 after buying an additional 482 shares in the last quarter. Ancora Advisors LLC purchased a new stake in shares of WestRock in the 1st quarter worth about $29,000. Core Alternative Capital purchased a new stake in shares of WestRock in the 1st quarter worth about $30,000. CVA Family Office LLC boosted its position in shares of WestRock by 56.1% in the 1st quarter. CVA Family Office LLC now owns 765 shares of the basic materials company's stock worth $36,000 after buying an additional 275 shares in the last quarter. Finally, Tompkins Financial Corp purchased a new stake in shares of WestRock in the 1st quarter worth about $37,000. 83.52% of the stock is owned by institutional investors and hedge funds.
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Wall Street Analyst Weigh In
Several equities research analysts recently commented on the stock. Truist Financial decreased their price objective on shares of WestRock from $49.00 to $40.00 and set a "hold" rating on the stock in a research report on Thursday. Jefferies Financial Group decreased their price objective on shares of WestRock from $45.00 to $42.00 and set a "hold" rating on the stock in a research report on Friday, September 16th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of WestRock from $59.00 to $45.00 in a report on Tuesday, July 19th. StockNews.com lowered shares of WestRock from a "strong-buy" rating to a "buy" rating in a report on Friday. Finally, TheStreet upgraded shares of WestRock from a "c+" rating to a "b-" rating in a report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, WestRock presently has a consensus rating of "Hold" and an average target price of $45.00.
Insider Buying and Selling
In related news, insider John L. O'neal sold 5,173 shares of the stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $42.55, for a total transaction of $220,111.15. Following the completion of the sale, the insider now owns 46,305 shares of the company's stock, valued at approximately $1,970,277.75. The transaction was disclosed in a filing with the SEC, which can be accessed through
the SEC website. In related news, insider John L. O'neal sold 5,173 shares of the stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $42.55, for a total transaction of $220,111.15. Following the completion of the sale, the insider now owns 46,305 shares of the company's stock, valued at approximately $1,970,277.75. The transaction was disclosed in a filing with the SEC, which can be accessed through
the SEC website. Also, Director James E. Nevels sold 2,483 shares of the stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $42.36, for a total transaction of $105,179.88. Following the sale, the director now directly owns 14,326 shares of the company's stock, valued at approximately $606,849.36. The disclosure for this sale can be found
here. Corporate insiders own 1.00% of the company's stock.
WestRock Trading Down 1.6 %
Shares of WRK stock opened at $30.89 on Monday. The firm has a market cap of $7.87 billion, a P/E ratio of 8.83, a PEG ratio of 0.44 and a beta of 1.12. WestRock has a 1-year low of $30.77 and a 1-year high of $54.78. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.46 and a quick ratio of 0.90. The firm's 50-day simple moving average is $39.29 and its 200-day simple moving average is $43.55.
WestRock (NYSE:WRK – Get Rating) last announced its quarterly earnings data on Thursday, August 4th. The basic materials company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.04. The business had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.51 billion. WestRock had a net margin of 4.41% and a return on equity of 10.42%. The company's revenue was up 14.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.00 EPS. As a group, equities analysts forecast that WestRock will post 4.78 EPS for the current year.
WestRock Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 24th. Stockholders of record on Friday, August 12th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, August 11th. This represents a $1.00 annualized dividend and a dividend yield of 3.24%. WestRock's payout ratio is currently 28.57%.
About WestRock
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WestRock Company, together with its subsidiaries, provides fiber-based paper and packaging solutions in North America, South America, Europe, Asia, and Australia. It operates through two segments, Corrugated Packaging and Consumer Packaging. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards to consumer and industrial products manufacturers, and corrugated box manufacturers.
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