WestRock’s (WRK) Buy Rating Reaffirmed at Jefferies Group
A number of other analysts have also recently commented on the stock. Zacks Investment Research cut shares of WestRock from a buy rating to a hold rating in a report on Tuesday, November 15th. Credit Suisse Group AG reaffirmed a buy rating and set a $56.00 target price on shares of WestRock in a report on Monday, November 7th. Deutsche Bank AG upped their target price on shares of WestRock from $50.00 to $53.00 and gave the company a buy rating in a report on Friday, September 23rd. Goldman Sachs Group Inc. initiated coverage on shares of WestRock in a report on Thursday, September 22nd. They set a neutral rating and a $53.00 target price for the company. Finally, upped their target price on shares of WestRock from $46.00 to $54.00 and gave the company an underperform rating in a report on Tuesday, September 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $53.12.
Shares of WestRock (NYSE:WRK) opened at 50.86 on Wednesday. The stock’s 50 day moving average is $47.43 and its 200-day moving average is $44.01. The company’s market capitalization is $12.81 billion. WestRock has a 12-month low of $29.73 and a 12-month high of $52.10.
WestRock (NYSE:WRK) last released its quarterly earnings data on Monday, November 7th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.08. WestRock had a negative net margin of 2.72% and a positive return on equity of 6.41%. The firm earned $3.61 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the previous year, the company earned $0.93 earnings per share. The firm’s quarterly revenue was down .1% on a year-over-year basis. Analysts anticipate that WestRock will post $2.85 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Monday, November 21st will be paid a $0.40 dividend. The ex-dividend date is Thursday, November 17th. This represents a $1.60 annualized dividend and a dividend yield of 3.15%. This is an increase from WestRock’s previous quarterly dividend of $0.38. WestRock’s dividend payout ratio is currently -103.23%.
In other news, Director John A. Luke, Jr. sold 188,103 shares of the stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $46.62, for a total value of $8,769,361.86. Following the sale, the director now owns 837,343 shares of the company’s stock, valued at $39,036,930.66. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director G Stephen Felker sold 10,000 shares of the stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $50.00, for a total transaction of $500,000.00. Following the completion of the sale, the director now directly owns 73,420 shares in the company, valued at approximately $3,671,000. The disclosure for this sale can be found here. 2.41% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the stock. Hamlin Capital Management LLC purchased a new stake in shares of WestRock during the second quarter valued at $21,851,000. Deprince Race & Zollo Inc. purchased a new stake in shares of WestRock during the second quarter valued at $28,896,000. Atalanta Sosnoff Capital LLC purchased a new stake in shares of WestRock during the second quarter valued at $14,055,000. Legal & General Group Plc increased its stake in shares of WestRock by 1.6% in the first quarter. Legal & General Group Plc now owns 1,112,234 shares of the company’s stock valued at $43,406,000 after buying an additional 17,865 shares in the last quarter. Finally, Evercore Wealth Management LLC increased its stake in shares of WestRock by 10.2% in the second quarter. Evercore Wealth Management LLC now owns 468,017 shares of the company’s stock valued at $18,192,000 after buying an additional 43,338 shares in the last quarter. 91.70% of the stock is currently owned by institutional investors and hedge funds.
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Westrock Company is a provider of packaging solutions and manufactures containerboard and paperboard. The Company’s operating segments include Corrugated Packaging, Consumer Packaging, Specialty Chemicals, and Land and Development. The Company operates in North America, South America, Europe and Asia.
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