Insider Selling: WestRock Co (WRK) Insider Sells $1,798,320.00 in Stock
WestRock Co (NYSE:WRK) insider Robert A. Feeser sold 29,972 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $60.00, for a total value of $1,798,320.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
WestRock Co (NYSE:WRK) opened at $62.40 on Friday. The company has a market capitalization of $15,890.00 and a P/E ratio of 23.82. The company has a quick ratio of 0.89, a current ratio of 1.49 and a debt-to-equity ratio of 0.57. WestRock Co has a 1-year low of $49.23 and a 1-year high of $62.61.
WestRock (NYSE:WRK) last announced its earnings results on Thursday, November 2nd. The basic materials company reported $0.87 EPS for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.06. The firm had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4.13 billion. WestRock had a return on equity of 6.73% and a net margin of 4.77%. The company’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.71 EPS. research analysts forecast that WestRock Co will post 3.74 earnings per share for the current year.
Several research analysts have recently commented on WRK shares. Barclays raised their price objective on WestRock from $54.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Monday, August 7th. BidaskClub cut WestRock from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Royal Bank Of Canada reiterated a “buy” rating and set a $65.00 target price on shares of WestRock in a research report on Monday, September 25th. Deutsche Bank reiterated a “buy” rating and set a $65.00 target price (up previously from $61.00) on shares of WestRock in a research report on Monday, October 9th. Finally, KeyCorp reiterated a “hold” rating on shares of WestRock in a research report on Wednesday, October 11th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $65.09.
Several institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its stake in shares of WestRock by 146.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 485,528 shares of the basic materials company’s stock worth $27,521,000 after acquiring an additional 288,325 shares during the last quarter. ING Groep NV lifted its stake in shares of WestRock by 0.9% during the 2nd quarter. ING Groep NV now owns 10,112 shares of the basic materials company’s stock worth $573,000 after acquiring an additional 93 shares during the last quarter. Parkwood LLC bought a new stake in shares of WestRock during the 2nd quarter worth approximately $326,000. Strs Ohio lifted its stake in shares of WestRock by 36.9% during the 2nd quarter. Strs Ohio now owns 18,080 shares of the basic materials company’s stock worth $1,024,000 after acquiring an additional 4,874 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its stake in shares of WestRock by 33.4% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 16,948 shares of the basic materials company’s stock worth $960,000 after acquiring an additional 4,240 shares during the last quarter. Hedge funds and other institutional investors own 89.43% of the company’s stock.
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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