WestRock (NYSE:WRK) Price Target Raised to $51.00 at Wells Fargo & Company

WestRock (NYSE:WRK) had its price target boosted by Wells Fargo & Company from $46.00 to $51.00 in a research report released on Friday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the basic materials company’s stock.

Several other research firms also recently commented on WRK. StockNews.com started coverage on WestRock in a research report on Thursday, May 2nd. They issued a hold rating on the stock. Truist Financial lifted their target price on WestRock from $40.00 to $48.00 and gave the stock a hold rating in a report on Thursday, January 4th. Seaport Res Ptn downgraded shares of WestRock from a buy rating to a neutral rating in a research note on Monday, January 29th. Finally, Royal Bank of Canada reaffirmed a sector perform rating and set a $42.00 price target on shares of WestRock in a research report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, WestRock presently has a consensus rating of Hold and a consensus price target of $47.00.

WestRock Stock Up 0.5 %

WRK opened at $51.40 on Friday. The stock’s fifty day simple moving average is $47.88 and its 200 day simple moving average is $42.92. WestRock has a 1-year low of $26.85 and a 1-year high of $51.79. The stock has a market cap of $13.27 billion, a PE ratio of 43.19, a price-to-earnings-growth ratio of 4.77 and a beta of 1.10. The company has a current ratio of 1.34, a quick ratio of 0.85 and a debt-to-equity ratio of 0.77.

WestRock (NYSE:WRK) last posted its earnings results on Thursday, May 2nd. The basic materials company reported $0.39 earnings per share (EPS) 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 company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.75 billion. During the same quarter last year, the company posted $0.77 EPS. WestRock’s quarterly revenue was down 10.4% compared to the same quarter last year. As a group, research analysts expect that WestRock will post 1.93 earnings per share for the current year.

WestRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th will be paid a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Monday, May 13th. WestRock’s dividend payout ratio (DPR) is presently 101.68%.

Insider Buying and Selling

In related news, EVP Denise R. Singleton sold 9,700 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $51.46, for a total transaction of $499,162.00. Following the sale, the executive vice president now owns 74,946 shares in the company, valued at approximately $3,856,721.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Denise R. Singleton sold 9,700 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $51.46, for a total transaction of $499,162.00. Following the completion of the transaction, the executive vice president now owns 74,946 shares of the company’s stock, valued at approximately $3,856,721.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider John L. O’neal sold 6,965 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $51.47, for a total value of $358,488.55. Following the completion of the sale, the insider now directly owns 60,491 shares in the company, valued at $3,113,471.77. The disclosure for this sale can be found here. Insiders sold 20,165 shares of company stock valued at $1,007,346 over the last quarter. 0.49% of the stock is owned by company insiders.

Institutional Investors Weigh In On WestRock

Hedge funds and other institutional investors have recently made changes to their positions in the stock. NBC Securities Inc. acquired a new stake in WestRock in the third quarter valued at approximately $27,000. International Assets Investment Management LLC grew its position in WestRock by 268.7% during the 4th quarter. International Assets Investment Management LLC now owns 789 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 575 shares during the last quarter. OLD Point Trust & Financial Services N A acquired a new position in WestRock in the 4th quarter worth about $35,000. Parkside Financial Bank & Trust raised its position in WestRock by 59.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 320 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. boosted its stake in shares of WestRock by 82.0% during the first quarter. Newbridge Financial Services Group Inc. now owns 910 shares of the basic materials company’s stock valued at $45,000 after purchasing an additional 410 shares in the last quarter. 83.38% of the stock is owned by 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.