WFG Advisors LP Has $444,000 Stake in Westrock Company (WRK)
WFG Advisors LP lessened its position in Westrock Company (NYSE:WRK) by 22.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,837 shares of the basic materials company’s stock after selling 2,275 shares during the period. WFG Advisors LP’s holdings in Westrock were worth $444,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Neuberger Berman Group LLC lifted its stake in shares of Westrock by 8.2% during the 1st quarter. Neuberger Berman Group LLC now owns 12,049 shares of the basic materials company’s stock worth $627,000 after buying an additional 914 shares during the last quarter. Teachers Advisors LLC lifted its stake in shares of Westrock by 15.2% during the 1st quarter. Teachers Advisors LLC now owns 650,466 shares of the basic materials company’s stock worth $33,844,000 after buying an additional 85,842 shares during the last quarter. Global X Management Co. LLC lifted its stake in shares of Westrock by 36.9% during the 1st quarter. Global X Management Co. LLC now owns 3,217 shares of the basic materials company’s stock worth $167,000 after buying an additional 867 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Westrock by 9.0% during the 1st quarter. Geode Capital Management LLC now owns 2,471,696 shares of the basic materials company’s stock worth $128,423,000 after buying an additional 204,010 shares during the last quarter. Finally, RiverPoint Capital Management LLC lifted its stake in shares of Westrock by 14.9% during the 1st quarter. RiverPoint Capital Management LLC now owns 10,185 shares of the basic materials company’s stock worth $530,000 after buying an additional 1,320 shares during the last quarter. 88.57% of the stock is owned by institutional investors.
WRK has been the subject of a number of research reports. Jefferies Group LLC restated a “buy” rating and set a $65.00 target price on shares of Westrock in a research note on Thursday, June 22nd. KeyCorp restated a “hold” rating on shares of Westrock in a research note on Thursday, June 29th. Goldman Sachs Group, Inc. (The) upgraded shares of Westrock from a “buy” rating to a “conviction-buy” rating in a research note on Thursday, July 13th. Zacks Investment Research cut shares of Westrock from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, Barclays PLC raised their target price on shares of Westrock from $52.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 18th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $64.33.
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In other news, Director John A. Luke, Jr. sold 87,202 shares of the stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $55.06, for a total value of $4,801,342.12. Following the sale, the director now directly owns 497,557 shares of the company’s stock, valued at $27,395,488.42. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John A. Luke, Jr. sold 153,718 shares of the stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $55.40, for a total transaction of $8,515,977.20. Following the completion of the sale, the director now directly owns 543,291 shares in the company, valued at $30,098,321.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 443,379 shares of company stock worth $24,874,301. Insiders own 2.68% of the company’s stock.
Shares of Westrock Company (NYSE WRK) traded up 0.49% during mid-day trading on Tuesday, reaching $59.42. 372,014 shares of the company’s stock traded hands. Westrock Company has a 12-month low of $43.79 and a 12-month high of $60.36. The company has a market cap of $14.91 billion, a P/E ratio of 36.06 and a beta of 1.36. The firm has a 50-day moving average of $57.27 and a 200 day moving average of $55.82.
Westrock (NYSE:WRK) last released its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.10. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.66 billion. Westrock had a net margin of 2.92% and a return on equity of 6.38%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 earnings per share. Equities analysts forecast that Westrock Company will post $2.57 EPS for the current year.
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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