Teacher Retirement System of Texas reduced its position in shares of WestRock Co (NYSE:WRK) by 85.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 68,537 shares of the basic materials company’s stock after selling 419,229 shares during the quarter. Teacher Retirement System of Texas’ holdings in WestRock were worth $4,332,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of WRK. Raymond James Financial Services Advisors Inc. raised its holdings in WestRock by 11.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 33,257 shares of the basic materials company’s stock worth $1,884,000 after purchasing an additional 3,437 shares in the last quarter. WINTON GROUP Ltd bought a new position in WestRock in the 2nd quarter worth $427,000. Sentry Investment Management LLC raised its holdings in WestRock by 3.1% in the 2nd quarter. Sentry Investment Management LLC now owns 14,661 shares of the basic materials company’s stock worth $831,000 after purchasing an additional 442 shares in the last quarter. Eqis Capital Management Inc. raised its holdings in WestRock by 9.9% in the 3rd quarter. Eqis Capital Management Inc. now owns 11,786 shares of the basic materials company’s stock worth $669,000 after purchasing an additional 1,058 shares in the last quarter. Finally, PGGM Investments raised its holdings in WestRock by 2.3% in the 3rd quarter. PGGM Investments now owns 162,687 shares of the basic materials company’s stock worth $9,229,000 after purchasing an additional 3,642 shares in the last quarter. Institutional investors own 87.74% of the company’s stock.
Several research analysts have commented on the stock. DA Davidson restated a “buy” rating and issued a $82.00 price objective on shares of WestRock in a report on Tuesday, January 30th. Barclays upped their price objective on shares of WestRock from $60.00 to $64.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. Deutsche Bank set a $78.00 price objective on shares of WestRock and gave the stock a “buy” rating in a report on Tuesday, January 30th. ValuEngine upgraded shares of WestRock from a “hold” rating to a “buy” rating in a report on Friday, February 9th. Finally, Zacks Investment Research upgraded shares of WestRock from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a report on Saturday, February 3rd. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $74.25.
Shares of WestRock Co (NYSE:WRK) opened at $66.32 on Friday. The firm has a market cap of $16,890.00 and a PE ratio of 9.71. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 0.74. WestRock Co has a 1 year low of $49.23 and a 1 year high of $71.55.
WestRock (NYSE:WRK) last released its earnings results on Monday, January 29th. The basic materials company reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.12. The firm had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.95 billion. WestRock had a net margin of 11.51% and a return on equity of 7.45%. The company’s revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 EPS. research analysts anticipate that WestRock Co will post 3.95 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 26th. Stockholders of record on Friday, February 16th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Thursday, February 15th. WestRock’s dividend payout ratio is presently 25.18%.
In other news, Director John A. Luke, Jr. sold 124,621 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $65.34, for a total value of $8,142,736.14. Following the sale, the director now directly owns 547,443 shares of the company’s stock, valued at approximately $35,769,925.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert A. Feeser sold 29,972 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $60.00, for a total transaction of $1,798,320.00. The disclosure for this sale can be found here. Insiders sold a total of 239,281 shares of company stock worth $15,292,305 over the last ninety days. Insiders own 2.68% of the company’s stock.
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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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