Toronto Dominion Bank raised its stake in WestRock Co (NYSE:WRK) by 13.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 109,639 shares of the basic materials company’s stock after acquiring an additional 13,389 shares during the period. Toronto Dominion Bank’s holdings in WestRock were worth $6,930,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Eqis Capital Management Inc. grew its stake in shares of WestRock by 9.9% in the third quarter. Eqis Capital Management Inc. now owns 11,786 shares of the basic materials company’s stock worth $669,000 after acquiring an additional 1,058 shares during the last quarter. Magnetar Financial LLC purchased a new stake in shares of WestRock in the third quarter worth $704,000. Contravisory Investment Management Inc. grew its stake in shares of WestRock by 1,273.0% in the fourth quarter. Contravisory Investment Management Inc. now owns 63,336 shares of the basic materials company’s stock worth $4,003,000 after acquiring an additional 58,723 shares during the last quarter. Stephens Inc. AR purchased a new stake in shares of WestRock in the third quarter worth $442,000. Finally, Convergence Investment Partners LLC purchased a new stake in shares of WestRock in the fourth quarter worth $1,571,000. 86.98% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently commented on WRK. Deutsche Bank set a $78.00 target price on WestRock and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Barclays increased their price objective on WestRock from $60.00 to $64.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. Citigroup increased their price objective on WestRock from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. Stephens set a $74.00 price objective on WestRock and gave the company a “hold” rating in a research report on Monday, January 29th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $77.00 price objective on shares of WestRock in a research report on Thursday, January 25th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $74.25.
In other news, Director John A. Luke, Jr. sold 10,343 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $58.58, for a total value of $605,892.94. Following the transaction, the director now owns 497,557 shares of the company’s stock, valued at $29,146,889.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert A. Feeser sold 29,972 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was 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 sold 228,938 shares of company stock worth $14,684,034 in the last ninety days. Corporate insiders own 2.20% of the company’s stock.
WestRock Co (WRK) opened at $66.32 on Monday. 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 12 month low of $49.23 and a 12 month high of $71.55. The company has a market capitalization of $16,920.04, a PE ratio of 9.71, a PEG ratio of 1.31 and a beta of 1.42.
WestRock (NYSE:WRK) last posted its quarterly earnings data on Monday, January 29th. The basic materials company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.75 by $0.12. WestRock had a return on equity of 7.45% and a net margin of 11.51%. The firm had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.95 billion. During the same quarter last year, the company earned $0.47 earnings per share. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. research analysts expect that WestRock Co will post 3.95 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 26th. Stockholders of record on Friday, February 16th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Thursday, February 15th. WestRock’s dividend payout ratio (DPR) is currently 25.18%.
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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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