Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in WestRock Co (NYSE:WRK) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 26,903 shares of the basic materials company’s stock, valued at approximately $1,534,000.
Several other institutional investors have also added to or reduced their stakes in WRK. Royal Bank of Canada boosted its position in shares of WestRock by 257.7% in the 1st quarter. Royal Bank of Canada now owns 2,395,435 shares of the basic materials company’s stock worth $153,716,000 after buying an additional 1,725,807 shares in the last quarter. Bank of Montreal Can acquired a new position in WestRock in the 2nd quarter valued at about $47,680,000. Millennium Management LLC raised its stake in WestRock by 10,291.3% in the 1st quarter. Millennium Management LLC now owns 842,946 shares of the basic materials company’s stock valued at $54,092,000 after purchasing an additional 834,834 shares during the last quarter. CI Investments Inc. raised its stake in WestRock by 1,825.3% in the 1st quarter. CI Investments Inc. now owns 654,600 shares of the basic materials company’s stock valued at $42,006,000 after purchasing an additional 620,600 shares during the last quarter. Finally, Gateway Investment Advisers LLC acquired a new position in WestRock in the 2nd quarter valued at about $13,957,000. Institutional investors and hedge funds own 87.08% of the company’s stock.
Shares of WRK stock opened at $55.32 on Friday. WestRock Co has a twelve month low of $52.78 and a twelve month high of $71.55. The stock has a market capitalization of $14.03 billion, a P/E ratio of 21.11, a PEG ratio of 1.02 and a beta of 1.36. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.56 and a quick ratio of 0.95.
WestRock (NYSE:WRK) last posted its quarterly earnings data on Thursday, August 2nd. The basic materials company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.03. WestRock had a net margin of 11.31% and a return on equity of 8.49%. The company had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $4.16 billion. During the same quarter in the prior year, the company posted $0.74 EPS. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. analysts expect that WestRock Co will post 4.06 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 20th. Stockholders of record on Friday, August 10th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Thursday, August 9th. WestRock’s dividend payout ratio is currently 65.65%.
Several brokerages recently weighed in on WRK. Zacks Investment Research downgraded shares of WestRock from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 5th. ValuEngine downgraded shares of WestRock from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Citigroup cut their target price on shares of WestRock from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, July 10th. KeyCorp reissued a “hold” rating on shares of WestRock in a research note on Friday, April 27th. Finally, Stephens set a $63.00 target price on shares of WestRock and gave the company a “weight” rating in a research note on Thursday, July 5th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $74.67.
WestRock Company Profile
WestRock Company manufactures and sells paper and packaging solutions for the consumer and corrugated markets in North America, South America, Europe, Australia, and Asia. The company operates through three segments: Corrugated Packaging, Consumer Packaging, and Land and Development. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards for consumer and industrial products manufacturers, and corrugated box manufacturers.
Featured Article: Leveraged Buyout (LBO)
Want to see what other hedge funds are holding WRK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WestRock Co (NYSE:WRK).
Receive News & Ratings for WestRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WestRock and related companies with MarketBeat.com's FREE daily email newsletter.