Nicholas Hoffman & Company LLC. Sells 774 Shares of WestRock (NYSE:WRK)

Nicholas Hoffman & Company LLC. lessened its position in WestRock (NYSE:WRK) by 8.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 8,277 shares of the basic materials company’s stock after selling 774 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in WestRock were worth $409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of WRK. Fifth Third Bancorp increased its stake in shares of WestRock by 14.2% in the third quarter. Fifth Third Bancorp now owns 9,433 shares of the basic materials company’s stock worth $338,000 after purchasing an additional 1,174 shares during the period. Cyndeo Wealth Partners LLC bought a new position in WestRock in the 4th quarter worth approximately $4,584,000. Deutsche Bank AG lifted its holdings in shares of WestRock by 70.4% during the third quarter. Deutsche Bank AG now owns 1,825,189 shares of the basic materials company’s stock worth $65,342,000 after buying an additional 753,828 shares during the last quarter. Salem Investment Counselors Inc. boosted its position in shares of WestRock by 37.9% in the fourth quarter. Salem Investment Counselors Inc. now owns 600,682 shares of the basic materials company’s stock valued at $24,940,000 after acquiring an additional 165,120 shares during the period. Finally, abrdn plc grew its stake in shares of WestRock by 64.5% in the fourth quarter. abrdn plc now owns 111,954 shares of the basic materials company’s stock worth $4,648,000 after acquiring an additional 43,910 shares during the last quarter. Institutional investors and hedge funds own 83.38% of the company’s stock.

WestRock Price Performance

Shares of NYSE:WRK traded down $0.56 during midday trading on Tuesday, reaching $47.98. 1,700,770 shares of the company’s stock were exchanged, compared to its average volume of 2,105,959. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.95 and a current ratio of 1.55. The company’s 50 day simple moving average is $47.36 and its two-hundred day simple moving average is $42.54. WestRock has a 12 month low of $26.85 and a 12 month high of $49.67. The firm has a market capitalization of $12.39 billion, a PE ratio of -7.14, a price-to-earnings-growth ratio of 4.41 and a beta of 1.10.

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

WestRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Tuesday, May 14th will be given a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Monday, May 13th. WestRock’s dividend payout ratio (DPR) is -18.01%.

Insider Buying and Selling at WestRock

In related news, insider Vicki L. Lostetter sold 3,500 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $42.77, for a total transaction of $149,695.00. Following the completion of the sale, the insider now owns 92,117 shares in the company, valued at approximately $3,939,844.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on WRK shares. StockNews.com began coverage on shares of WestRock in a research note on Wednesday, April 24th. They set a “hold” rating for the company. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $45.00 price objective (up previously from $42.00) on shares of WestRock in a research report on Thursday, January 11th. Truist Financial lifted their target price on WestRock from $40.00 to $48.00 and gave the stock a “hold” rating in a research report on Thursday, January 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $42.00 price target on shares of WestRock in a report on Friday, February 2nd. Finally, Seaport Res Ptn downgraded WestRock from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, WestRock currently has a consensus rating of “Hold” and a consensus target price of $43.00.

About WestRock

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.