Toronto Dominion Bank reduced its position in shares of WestRock Co (NYSE:WRK) by 76.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,250 shares of the basic materials company’s stock after selling 313,805 shares during the period. Toronto Dominion Bank’s holdings in WestRock were worth $5,460,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in WRK. AJO LP raised its position in WestRock by 13,639.1% during the second quarter. AJO LP now owns 2,782,160 shares of the basic materials company’s stock valued at $157,637,000 after purchasing an additional 2,761,910 shares in the last quarter. Prudential Financial Inc. raised its position in WestRock by 327.5% during the second quarter. Prudential Financial Inc. now owns 1,998,206 shares of the basic materials company’s stock valued at $113,218,000 after purchasing an additional 1,530,797 shares in the last quarter. Janus Henderson Group PLC raised its position in WestRock by 2,916.4% during the second quarter. Janus Henderson Group PLC now owns 1,024,046 shares of the basic materials company’s stock valued at $58,023,000 after purchasing an additional 990,097 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its position in WestRock by 1,801.4% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 962,436 shares of the basic materials company’s stock valued at $37,410,000 after purchasing an additional 911,819 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in WestRock by 1.9% during the second quarter. Vanguard Group Inc. now owns 26,211,606 shares of the basic materials company’s stock valued at $1,485,150,000 after purchasing an additional 484,771 shares in the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.
Shares of WestRock Co (NYSE WRK) traded up $1.07 during trading on Monday, hitting $63.47. 1,747,873 shares of the company traded hands, compared to its average volume of 1,447,774. The company has a current ratio of 1.49, a quick ratio of 0.89 and a debt-to-equity ratio of 0.57. WestRock Co has a one year low of $49.23 and a one year high of $63.63. The company has a market capitalization of $15,887.94, a PE ratio of 23.82, a price-to-earnings-growth ratio of 1.44 and a beta of 1.37.
WestRock (NYSE:WRK) last issued its quarterly earnings data on Thursday, November 2nd. The basic materials company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.06. WestRock had a net margin of 4.77% and a return on equity of 6.73%. The company had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same quarter in the previous year, the firm posted $0.71 earnings per share. WestRock’s revenue for the quarter was up 12.4% on a year-over-year basis. equities research analysts anticipate that WestRock Co will post 3.74 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Friday, November 10th were paid a $0.43 dividend. This is a boost from WestRock’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $1.72 annualized dividend and a dividend yield of 2.71%. WestRock’s payout ratio is currently 62.09%.
Several brokerages have commented on WRK. Stephens began coverage on shares of WestRock in a research report on Tuesday, October 24th. They set an “equal weight” rating and a $61.00 price objective for the company. Zacks Investment Research downgraded shares of WestRock from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 7th. KeyCorp reiterated a “hold” rating on shares of WestRock in a report on Wednesday, October 11th. Barclays upped their price target on shares of WestRock from $58.00 to $60.00 and gave the stock an “equal weight” rating in a report on Monday, November 6th. Finally, Deutsche Bank reiterated a “buy” rating and set a $65.00 price target (up from $61.00) on shares of WestRock in a report on Monday, October 9th. Five equities research 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. WestRock presently has a consensus rating of “Buy” and an average target price of $65.09.
In other WestRock news, Director John A. Luke, Jr. sold 10,343 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $56.96, for a total transaction of $589,137.28. Following the sale, the director now owns 497,557 shares of the company’s stock, valued at $28,340,846.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jennifer Graham-Johnson sold 3,806 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $57.08, for a total transaction of $217,246.48. Following the sale, the executive vice president now directly owns 41,588 shares in the company, valued at approximately $2,373,843.04. The disclosure for this sale can be found here. In the last three months, insiders sold 183,962 shares of company stock worth $10,787,405. 2.68% of the stock is currently owned by insiders.
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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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