Deutsche Bank Reiterates $70.00 Price Target for WestRock (WRK)
Other equities research analysts have also recently issued research reports about the stock. BMO Capital Markets raised their price objective on shares of WestRock to $68.00 and gave the stock an outperform rating in a research note on Tuesday, December 12th. Stephens began coverage on shares of WestRock in a research note on Tuesday, October 24th. They set an equal weight rating and a $61.00 price objective on the stock. KeyCorp reaffirmed a hold rating on shares of WestRock in a research note on Wednesday, October 11th. BidaskClub raised shares of WestRock from a sell rating to a hold rating in a research note on Friday, August 18th. Finally, Zacks Investment Research cut shares of WestRock from a strong-buy rating to a hold rating in a research note on Tuesday, November 7th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $66.09.
WestRock (WRK) opened at $63.11 on Thursday. WestRock has a fifty-two week low of $49.23 and a fifty-two week high of $64.87. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.49 and a quick ratio of 0.89. The firm has a market cap of $16,068.69, a P/E ratio of 24.09, a P/E/G ratio of 1.53 and a beta of 1.37.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 20th. Stockholders of record on Friday, November 10th were given a dividend of $0.43 per share. This is a positive change from WestRock’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, November 9th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.73%. WestRock’s dividend payout ratio (DPR) is 62.09%.
In other news, Director John A. Luke, Jr. sold 10,343 shares of the stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $55.12, for a total transaction of $570,106.16. Following the transaction, the director now owns 497,557 shares in the company, valued at approximately $27,425,341.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert A. Feeser sold 29,972 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $60.00, for a total value of $1,798,320.00. The disclosure for this sale can be found here. Insiders have sold a total of 161,788 shares of company stock worth $9,629,984 in the last quarter. Insiders own 2.68% of the company’s stock.
Large investors have recently made changes to their positions in the company. Mckinley Capital Management LLC Delaware purchased a new position in WestRock in the 2nd quarter valued at $100,000. Sun Life Financial INC lifted its holdings in WestRock by 26,114.3% in the 2nd quarter. Sun Life Financial INC now owns 1,835 shares of the basic materials company’s stock valued at $104,000 after purchasing an additional 1,828 shares in the last quarter. Invictus RG purchased a new position in WestRock in the 3rd quarter valued at $108,000. Old Mutual Global Investors UK Ltd. purchased a new position in WestRock in the 3rd quarter valued at $130,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in WestRock by 25.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,548 shares of the basic materials company’s stock valued at $144,000 after purchasing an additional 509 shares in the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.
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WestRock Company Profile
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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