WestRock (NYSE:WRK) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of WestRock (NYSE:WRK) in a research note issued to investors on Thursday. The firm issued a hold rating on the basic materials company’s stock.

WRK has been the subject of a number of other research reports. Seaport Res Ptn lowered WestRock from a buy rating to a neutral rating in a research report on Monday, January 29th. Truist Financial raised their price target on WestRock from $40.00 to $48.00 and gave the company a hold rating in a report on Thursday, January 4th. Royal Bank of Canada reiterated a sector perform rating and issued a $42.00 price target on shares of WestRock in a research note on Friday, February 2nd. Finally, Wells Fargo & Company reissued an equal weight rating and set a $45.00 price objective (up from $42.00) on shares of WestRock in a research report on Thursday, January 11th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $44.50.

WestRock Price Performance

Shares of WRK stock opened at $51.16 on Thursday. The company has a quick ratio of 0.95, a current ratio of 1.34 and a debt-to-equity ratio of 0.77. The business’s fifty day moving average is $47.73 and its 200 day moving average is $42.81. The stock has a market cap of $13.21 billion, a price-to-earnings ratio of 42.99, a PEG ratio of 4.77 and a beta of 1.10. WestRock has a twelve month low of $26.85 and a twelve month high of $51.79.

WestRock (NYSE:WRK) last announced its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.14. WestRock had a net margin of 1.57% and a return on equity of 5.85%. The business had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.75 billion. During the same quarter in the prior year, the company earned $0.77 earnings per share. The business’s revenue was down 10.4% compared to the same quarter last year. Research analysts expect that WestRock will post 1.93 EPS for the current fiscal year.

WestRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th will be given a dividend of $0.3025 per share. The ex-dividend date is Monday, May 13th. This represents a $1.21 annualized dividend and a dividend yield of 2.37%. WestRock’s dividend payout ratio (DPR) is presently 101.68%.

Insider Buying and Selling

In other news, insider Vicki L. Lostetter sold 3,500 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $42.77, for a total transaction of $149,695.00. Following the sale, the insider now owns 92,117 shares of the company’s stock, valued at approximately $3,939,844.09. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On WestRock

A number of hedge funds have recently added to or reduced their stakes in the stock. NBC Securities Inc. purchased a new stake in WestRock during the third quarter valued at $27,000. International Assets Investment Management LLC lifted its stake in shares of WestRock by 268.7% in the 4th quarter. International Assets Investment Management LLC now owns 789 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 575 shares during the period. OLD Point Trust & Financial Services N A purchased a new position in shares of WestRock in the fourth quarter worth approximately $35,000. Clear Street Markets LLC grew its position in WestRock by 198.5% during the third quarter. Clear Street Markets LLC now owns 1,000 shares of the basic materials company’s stock valued at $36,000 after buying an additional 665 shares during the period. Finally, Parkside Financial Bank & Trust increased its holdings in WestRock by 59.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company’s stock valued at $36,000 after buying an additional 320 shares during the last quarter. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

WestRock Company Profile

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 four segments: Corrugated Packaging, Consumer Packaging, Global Paper, and Distribution. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards to consumer and industrial products manufacturers, and corrugated box manufacturers.