Geode Capital Management LLC lifted its holdings in WestRock Co (NYSE:WRK) by 9.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,868,772 shares of the basic materials company’s stock after purchasing an additional 242,365 shares during the period. Geode Capital Management LLC owned about 1.12% of WestRock worth $180,979,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in WRK. Assetmark Inc. lifted its position in shares of WestRock by 672.6% in the 4th quarter. Assetmark Inc. now owns 1,661 shares of the basic materials company’s stock worth $105,000 after purchasing an additional 1,446 shares during the period. Invictus RG purchased a new stake in shares of WestRock in the 3rd quarter worth approximately $108,000. Old Mutual Global Investors UK Ltd. purchased a new stake in shares of WestRock in the 3rd quarter worth approximately $130,000. Tower Research Capital LLC TRC lifted its position in shares of WestRock by 1,225.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,107 shares of the basic materials company’s stock worth $133,000 after purchasing an additional 1,948 shares during the period. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in shares of WestRock in the 3rd quarter worth approximately $147,000. 88.20% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on WRK shares. Zacks Investment Research raised shares of WestRock from a “hold” rating to a “buy” rating and set a $76.00 price target for the company in a research report on Saturday, February 3rd. Stephens set a $72.00 target price on shares of WestRock and gave the company a “hold” rating in a research report on Wednesday, January 10th. ValuEngine raised shares of WestRock from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. BMO Capital Markets increased their target price on shares of WestRock to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, December 12th. Finally, Bank of America increased their target price on shares of WestRock from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. WestRock presently has a consensus rating of “Buy” and an average target price of $74.25.
In other WestRock news, Director John A. Luke, Jr. sold 10,343 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $63.68, for a total transaction of $658,642.24. Following the transaction, the director now owns 497,557 shares in the company, valued at approximately $31,684,429.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John A. Luke, Jr. sold 7,236 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $67.06, for a total transaction of $485,246.16. Following the transaction, the director now owns 504,679 shares in the company, valued at approximately $33,843,773.74. The disclosure for this sale can be found here. Insiders have sold a total of 475,335 shares of company stock worth $31,283,820 in the last 90 days. 2.20% of the stock is currently owned by company insiders.
Shares of WestRock Co (NYSE:WRK) traded down $0.81 during trading on Wednesday, reaching $66.20. 1,743,111 shares of the company’s stock were exchanged, compared to its average volume of 1,922,900. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 0.74. WestRock Co has a twelve month low of $49.23 and a twelve month high of $71.55. The firm has a market cap of $17,106.28, a price-to-earnings ratio of 9.69, a price-to-earnings-growth ratio of 1.32 and a beta of 1.37.
WestRock (NYSE:WRK) last issued its quarterly earnings results on Monday, January 29th. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.12. WestRock had a net margin of 11.51% and a return on equity of 7.45%. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.95 billion. During the same quarter in the prior year, the business posted $0.47 EPS. WestRock’s revenue for the quarter was up 13.0% compared to the same quarter last year. equities research analysts anticipate that WestRock Co will post 3.95 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, February 26th. Shareholders of record on Friday, February 16th were paid a dividend of $0.43 per share. The ex-dividend date was Thursday, February 15th. This represents a $1.72 dividend on an annualized basis and a yield of 2.60%. WestRock’s payout ratio is 25.18%.
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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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