Foundations Investment Advisors LLC decreased its stake in shares of WestRock (NYSE:WRK) by 51.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,231 shares of the basic materials company’s stock after selling 15,288 shares during the period. Foundations Investment Advisors LLC’s holdings in WestRock were worth $644,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. TRUE Private Wealth Advisors lifted its holdings in WestRock by 10.0% in the fourth quarter. TRUE Private Wealth Advisors now owns 3,428 shares of the basic materials company’s stock valued at $149,000 after acquiring an additional 313 shares during the period. Louisiana State Employees Retirement System grew its stake in shares of WestRock by 23.5% during the 4th quarter. Louisiana State Employees Retirement System now owns 16,300 shares of the basic materials company’s stock valued at $710,000 after purchasing an additional 3,100 shares during the period. Sound Income Strategies LLC increased its position in shares of WestRock by 46.9% during the 4th quarter. Sound Income Strategies LLC now owns 19,607 shares of the basic materials company’s stock valued at $853,000 after purchasing an additional 6,262 shares during the last quarter. National Investment Services of America LLC bought a new position in shares of WestRock in the 4th quarter worth approximately $749,000. Finally, Wedge Capital Management L L P NC purchased a new position in shares of WestRock in the fourth quarter worth approximately $7,959,000. Institutional investors own 80.83% of the company’s stock.
A number of analysts have commented on the stock. Morgan Stanley upped their target price on shares of WestRock from $36.00 to $43.00 and gave the company an “equal weight” rating in a report on Tuesday. Zacks Investment Research upgraded WestRock from a “hold” rating to a “strong-buy” rating and set a $51.00 price objective for the company in a research note on Wednesday, December 23rd. UBS Group assumed coverage on WestRock in a research report on Tuesday. They set a “buy” rating and a $59.00 target price on the stock. Argus raised WestRock from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Friday, December 4th. Finally, BidaskClub downgraded WestRock from a “buy” rating to a “hold” rating in a research note on Wednesday, December 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. WestRock presently has a consensus rating of “Buy” and an average target price of $43.67.
Shares of WRK opened at $46.94 on Thursday. The business’s 50 day moving average is $44.28 and its 200 day moving average is $36.39. The company has a current ratio of 1.80, a quick ratio of 1.03 and a debt-to-equity ratio of 0.84. WestRock has a 12-month low of $21.50 and a 12-month high of $47.77. The company has a market capitalization of $12.35 billion, a PE ratio of 15.70 and a beta of 1.38.
WestRock (NYSE:WRK) last announced its quarterly earnings data on Thursday, November 5th. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.05. WestRock had a net margin of 4.37% and a return on equity of 7.24%. The business had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same period last year, the firm posted $1.24 EPS. The company’s revenue was down 3.9% on a year-over-year basis. Equities research analysts predict that WestRock will post 2.61 earnings per share for the current year.
In other WestRock news, insider James B. Porter sold 19,202 shares of WestRock stock in a transaction on Tuesday, November 17th. The shares were sold at an average price of $43.32, for a total value of $831,830.64. Following the sale, the insider now directly owns 71,198 shares in the company, valued at approximately $3,084,297.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.92% of the company’s stock.
WestRock Company manufactures and sells paper and packaging solutions in North America, South America, Europe, Asia, and Australia. The company operates through Corrugated Packaging and Consumer Packaging segments. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards for sale to consumer and industrial products manufacturers, and corrugated box manufacturers.
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