Westrock Company (NYSE:WRK) had its price target raised by Barclays PLC from $54.00 to $58.00 in a report issued on Monday, August 7th. They currently have an equal weight rating on the basic materials company’s stock.
WRK has been the subject of several other reports. Royal Bank Of Canada upgraded shares of Westrock from a sector perform rating to an outperform rating and boosted their price objective for the stock from $54.00 to $59.00 in a report on Wednesday, April 19th. BidaskClub lowered shares of Westrock from a buy rating to a hold rating in a report on Monday, July 24th. Goldman Sachs Group, Inc. (The) upgraded shares of Westrock from a neutral rating to a buy rating and boosted their target price for the company from $57.00 to $61.00 in a research note on Tuesday, April 18th. Jefferies Group LLC reiterated a buy rating and set a $69.00 target price on shares of Westrock in a research note on Friday, August 4th. Finally, KeyCorp reissued a hold rating on shares of Westrock in a research report on Thursday, June 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $61.91.
Shares of Westrock (NYSE:WRK) traded up 0.39% during mid-day trading on Monday, reaching $56.29. The company’s stock had a trading volume of 1,032,994 shares. Westrock has a 52-week low of $43.57 and a 52-week high of $60.36. The firm has a market cap of $14.12 billion, a price-to-earnings ratio of 34.16 and a beta of 1.37. The firm has a 50 day moving average price of $57.61 and a 200 day moving average price of $54.62.
Westrock (NYSE:WRK) last posted its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.10. The business had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.66 billion. Westrock had a return on equity of 6.38% and a net margin of 2.92%. The business’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 EPS. On average, equities analysts predict that Westrock will post $2.62 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Monday, August 21st. Shareholders of record on Friday, August 11th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $1.60 dividend on an annualized basis and a yield of 2.84%. Westrock’s dividend payout ratio is currently 97.56%.
In other news, Director John A. Luke, Jr. sold 10,343 shares of the stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $58.61, for a total transaction of $606,203.23. Following the transaction, the director now directly owns 497,557 shares in the company, valued at $29,161,815.77. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 51,715 shares of company stock worth $2,986,231. Insiders own 2.68% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Mckinley Capital Management LLC Delaware purchased a new stake in shares of Westrock during the second quarter valued at $100,000. FNY Partners Fund LP boosted its position in Westrock by 700.0% in the first quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock worth $104,000 after buying an additional 1,750 shares in the last quarter. Sun Life Financial INC boosted its position in Westrock by 26,114.3% in the second quarter. Sun Life Financial INC now owns 1,835 shares of the basic materials company’s stock worth $104,000 after buying an additional 1,828 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Westrock by 16.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,039 shares of the basic materials company’s stock worth $106,000 after buying an additional 294 shares in the last quarter. Finally, Global X Management Co. LLC boosted its position in Westrock by 36.9% in the first quarter. Global X Management Co. LLC now owns 3,217 shares of the basic materials company’s stock worth $167,000 after buying an additional 867 shares in the last quarter. Hedge funds and other institutional investors own 89.85% of the company’s stock.
Westrock Company Profile
WestRock Company, incorporated on March 6, 2015, is a multinational provider of paper and packaging solutions for consumer and corrugated packaging markets. The Company also develops real estate in the Charleston, South Carolina region. The Company’s segments include Corrugated Packaging, Consumer Packaging, and Land and Development.
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