Westrock Company (NYSE:WRK) had its target price upped by Barclays PLC from $52.00 to $54.00 in a report released on Tuesday, July 18th. Barclays PLC currently has an equal weight rating on the basic materials company’s stock.
Several other equities research analysts also recently weighed in on the stock. Jefferies Group LLC reaffirmed a buy rating and set a $68.00 target price on shares of Westrock in a research note on Friday, July 14th. Zacks Investment Research raised shares of Westrock from a hold rating to a buy rating and set a $67.00 target price on the stock in a research note on Friday, July 14th. Goldman Sachs Group, Inc. (The) raised shares of Westrock from a buy rating to a conviction-buy rating in a research note on Thursday, July 13th. KeyCorp reaffirmed a hold rating on shares of Westrock in a research note on Thursday, June 29th. Finally, BMO Capital Markets reiterated a buy rating and set a $62.00 price target on shares of Westrock in a report on Thursday, June 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $61.91.
Westrock (WRK) opened at 57.16 on Tuesday. The stock’s 50 day moving average is $57.82 and its 200-day moving average is $54.34. The company has a market capitalization of $14.18 billion, a P/E ratio of 79.50 and a beta of 1.37. Westrock has a 1-year low of $40.63 and a 1-year high of $60.36.
Westrock (NYSE:WRK) last announced its earnings results on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.10. Westrock had a net margin of 2.92% and a return on equity of 6.38%. The firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the prior year, the firm earned $0.71 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, analysts expect that Westrock will post $2.59 earnings per share 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. Stockholders of record on Friday, August 11th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend is Wednesday, August 9th. Westrock’s payout ratio is 97.56%.
In other news, Director John A. Luke, Jr. sold 10,343 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $57.16, for a total value of $591,205.88. Following the completion of the transaction, the director now owns 497,557 shares in the company, valued at approximately $28,440,358.12. The sale was disclosed in a document filed with the SEC, which is available at this link. In the last 90 days, insiders sold 31,029 shares of company stock valued at $1,812,094. Company insiders own 2.68% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of WRK. FNY Partners Fund LP boosted its position in shares of Westrock by 700.0% in the first quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock valued at $104,000 after buying an additional 1,750 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of 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 valued at $106,000 after buying an additional 294 shares during the last quarter. Global X Management Co. LLC boosted its position in shares of 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 valued at $167,000 after buying an additional 867 shares during the last quarter. Pennsylvania Trust Co acquired a new stake in shares of Westrock during the second quarter worth $201,000. Finally, IBM Retirement Fund acquired a new stake in shares of Westrock during the second quarter worth $204,000. Institutional investors and hedge funds own 89.22% of the company’s stock.
About Westrock
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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