WestRock (NYSE:WRK) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of WestRock (NYSE:WRK) in a research report released on Wednesday. The brokerage issued a hold rating on the basic materials company’s stock.

Several other brokerages have also issued reports on WRK. Seaport Res Ptn lowered WestRock from a buy rating to a neutral rating in a research note on Monday, January 29th. Royal Bank of Canada reaffirmed a sector perform rating and set a $42.00 price target on shares of WestRock in a research note on Friday, February 2nd. Wells Fargo & Company reaffirmed an equal weight rating and set a $45.00 price target (up previously from $42.00) on shares of WestRock in a research note on Thursday, January 11th. Finally, Truist Financial lifted their price target on WestRock from $40.00 to $48.00 and gave the stock a hold rating in a research note on Thursday, January 4th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $43.00.

WestRock Trading Up 0.8 %

NYSE:WRK opened at $47.49 on Wednesday. WestRock has a 52-week low of $26.85 and a 52-week high of $49.67. The stock has a fifty day moving average of $46.94 and a 200 day moving average of $42.16. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.55 and a quick ratio of 0.95.

WestRock (NYSE:WRK) last posted its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.15). WestRock had a negative net margin of 8.58% and a positive return on equity of 6.87%. The business had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.79 billion. During the same period in the prior year, the business posted $0.55 EPS. WestRock’s quarterly revenue was down 6.2% on a year-over-year basis. On average, equities analysts forecast that WestRock will post 1.93 EPS for the current fiscal year.

WestRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Investors of record on Friday, February 9th were issued a dividend of $0.3025 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.21 dividend on an annualized basis and a yield of 2.55%. WestRock’s dividend payout ratio is presently -18.01%.

Insider Activity at WestRock

In related news, insider Vicki L. Lostetter sold 3,500 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $42.77, for a total transaction of $149,695.00. Following the transaction, the insider now owns 92,117 shares in the company, valued at approximately $3,939,844.09. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.49% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. 626 Financial LLC increased its holdings in WestRock by 1.4% during the 4th quarter. 626 Financial LLC now owns 18,972 shares of the basic materials company’s stock valued at $788,000 after purchasing an additional 265 shares during the period. Van ECK Associates Corp grew its holdings in shares of WestRock by 2.4% during the 3rd quarter. Van ECK Associates Corp now owns 12,143 shares of the basic materials company’s stock worth $435,000 after acquiring an additional 289 shares during the period. Czech National Bank grew its holdings in shares of WestRock by 0.7% during the 1st quarter. Czech National Bank now owns 45,213 shares of the basic materials company’s stock worth $2,236,000 after acquiring an additional 306 shares during the period. Parkside Financial Bank & Trust grew its holdings in shares of WestRock by 59.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 320 shares during the period. Finally, Wahed Invest LLC grew its holdings in shares of WestRock by 9.0% during the 3rd quarter. Wahed Invest LLC now owns 3,973 shares of the basic materials company’s stock worth $142,000 after acquiring an additional 327 shares during the period. Hedge funds and other institutional investors own 83.38% of the company’s stock.

WestRock Company Profile

WestRock Company, together with its subsidiaries, provides fiber-based paper and packaging solutions in North America, South America, Europe, Asia, and Australia. It operates through four segments: Corrugated Packaging, Consumer Packaging, Global Paper, and Distribution. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards to consumer and industrial products manufacturers, and corrugated box manufacturers.