Three Peaks Capital Management LLC Buys 56,535 Shares of Westrock Co (NYSE:WRK)

Three Peaks Capital Management LLC grew its holdings in shares of Westrock Co (NYSE:WRK) by 98.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,718 shares of the basic materials company’s stock after acquiring an additional 56,535 shares during the period. Westrock comprises approximately 1.3% of Three Peaks Capital Management LLC’s holdings, making the stock its 29th largest position. Three Peaks Capital Management LLC’s holdings in Westrock were worth $4,880,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Camelot Portfolios LLC bought a new stake in shares of Westrock during the 4th quarter valued at $229,000. Sage Capital Advisors llc bought a new stake in shares of Westrock during the 4th quarter valued at $3,580,000. Cerebellum GP LLC grew its position in shares of Westrock by 8,055.2% during the 4th quarter. Cerebellum GP LLC now owns 13,293 shares of the basic materials company’s stock valued at $570,000 after acquiring an additional 13,130 shares during the period. Investors Asset Management of Georgia Inc. GA ADV grew its position in shares of Westrock by 18.8% during the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 11,203 shares of the basic materials company’s stock valued at $481,000 after acquiring an additional 1,775 shares during the period. Finally, Eidelman Virant Capital bought a new stake in shares of Westrock during the 4th quarter valued at $558,000. 80.78% of the stock is owned by hedge funds and other institutional investors.

WRK stock traded up $0.29 during mid-day trading on Friday, hitting $43.73. The company had a trading volume of 712,225 shares, compared to its average volume of 3,072,288. The company has a market capitalization of $11.23 billion, a price-to-earnings ratio of 10.99, a P/E/G ratio of 3.03 and a beta of 1.64. Westrock Co has a 12-month low of $31.94 and a 12-month high of $44.39. The company has a quick ratio of 0.83, a current ratio of 1.45 and a debt-to-equity ratio of 0.81. The company has a 50-day moving average price of $41.80 and a 200 day moving average price of $37.82.

Westrock (NYSE:WRK) last announced its quarterly earnings results on Thursday, November 7th. The basic materials company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.19 by $0.05. The business had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.84 billion. Westrock had a net margin of 4.72% and a return on equity of 8.81%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.29 EPS. As a group, analysts expect that Westrock Co will post 3.29 EPS for the current year.

WRK has been the subject of a number of recent research reports. BNP Paribas assumed coverage on shares of Westrock in a research report on Monday, December 2nd. They set an “outperform” rating and a $48.00 price objective for the company. KeyCorp restated a “sell” rating and set a $34.00 target price on shares of Westrock in a research note on Thursday, November 7th. Exane BNP Paribas assumed coverage on shares of Westrock in a research note on Monday, December 2nd. They set an “outperform” rating and a $48.00 target price on the stock. TheStreet upgraded shares of Westrock from a “c+” rating to a “b-” rating in a research note on Tuesday, December 31st. Finally, Wells Fargo & Co upgraded shares of Westrock from an “equal weight” rating to an “overweight” rating and set a $52.00 target price on the stock in a research note on Thursday, January 2nd. Three analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. Westrock presently has a consensus rating of “Hold” and a consensus price target of $44.78.

In other news, Director John A. Luke, Jr. sold 41,206 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $40.64, for a total transaction of $1,674,611.84. Also, insider James B. Porter sold 25,753 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $40.04, for a total transaction of $1,031,150.12. Following the sale, the insider now owns 47,119 shares in the company, valued at $1,886,644.76. The disclosure for this sale can be found here. In the last quarter, insiders acquired 300 shares of company stock worth $12,467 and sold 255,618 shares worth $10,378,523. 1.92% of the stock is owned by insiders.

About Westrock

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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Institutional Ownership by Quarter for Westrock (NYSE:WRK)

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