WestRock (NYSE:WRK) had its target price trimmed by Wells Fargo & Co from $53.00 to $50.00 in a research note issued to investors on Tuesday morning. The brokerage currently has a market perform rating on the basic materials company’s stock.
WRK has been the subject of a number of other research reports. Bank of America began coverage on WestRock in a research report on Tuesday, October 23rd. They set a buy rating for the company. Zacks Investment Research cut WestRock from a hold rating to a sell rating in a research report on Thursday, October 4th. Deutsche Bank set a $58.00 target price on WestRock and gave the stock a buy rating in a research report on Tuesday. Seaport Global Securities began coverage on WestRock in a research report on Tuesday, October 23rd. They set a buy rating and a $52.00 target price for the company. Finally, ValuEngine cut WestRock from a sell rating to a strong sell rating in a research report on Tuesday, October 9th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. WestRock has a consensus rating of Hold and an average price target of $64.50.
Shares of WestRock stock opened at $46.73 on Tuesday. The company has a market cap of $11.40 billion, a price-to-earnings ratio of 11.43, a P/E/G ratio of 0.85 and a beta of 1.58. 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 has a 12-month low of $39.21 and a 12-month high of $71.55.
WestRock (NYSE:WRK) last announced its earnings results on Monday, November 5th. The basic materials company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.05. The firm had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.28 billion. WestRock had a return on equity of 8.49% and a net margin of 11.31%. The company’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.87 earnings per share. As a group, equities analysts predict that WestRock will post 4.7 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 19th. Stockholders of record on Friday, November 9th will be given a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 3.89%. This is a boost from WestRock’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, November 8th. WestRock’s dividend payout ratio is currently 42.05%.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. raised its stake in WestRock by 3.7% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 889,274 shares of the basic materials company’s stock worth $47,523,000 after acquiring an additional 31,731 shares in the last quarter. Arnhold LLC boosted its holdings in WestRock by 33.3% in the third quarter. Arnhold LLC now owns 166,196 shares of the basic materials company’s stock valued at $8,882,000 after acquiring an additional 41,546 shares during the last quarter. LSV Asset Management boosted its holdings in WestRock by 18.4% in the third quarter. LSV Asset Management now owns 1,350,626 shares of the basic materials company’s stock valued at $72,177,000 after acquiring an additional 209,923 shares during the last quarter. Dupont Capital Management Corp boosted its holdings in WestRock by 6.3% in the third quarter. Dupont Capital Management Corp now owns 168,578 shares of the basic materials company’s stock valued at $9,009,000 after acquiring an additional 9,954 shares during the last quarter. Finally, Cannell Peter B & Co. Inc. boosted its holdings in WestRock by 11.3% in the third quarter. Cannell Peter B & Co. Inc. now owns 753,125 shares of the basic materials company’s stock valued at $40,247,000 after acquiring an additional 76,603 shares during the last quarter. 85.27% of the stock is owned by institutional investors.
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.
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