Total Clarity Wealth Management Inc. acquired a new stake in WestRock (NYSE:WRK) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,275 shares of the basic materials company’s stock, valued at approximately $223,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Montag A & Associates Inc. bought a new position in shares of WestRock in the fourth quarter valued at approximately $28,000. Vantage Consulting Group Inc bought a new position in shares of WestRock in the fourth quarter valued at approximately $30,000. Harvest Fund Management Co. Ltd boosted its position in shares of WestRock by 108.2% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 758 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 394 shares during the period. International Assets Investment Management LLC lifted its position in WestRock by 100.0% during the first quarter. International Assets Investment Management LLC now owns 826 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 413 shares during the last quarter. Finally, Private Capital Group LLC lifted its position in WestRock by 71.2% during the fourth quarter. Private Capital Group LLC now owns 909 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 378 shares during the last quarter. Institutional investors own 80.83% of the company’s stock.
Several equities research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of WestRock from $50.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, May 10th. KeyCorp lifted their target price on shares of WestRock from $35.00 to $40.00 and gave the company an “underweight” rating in a research report on Monday, April 5th. Wells Fargo & Company lifted their target price on shares of WestRock from $59.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday, May 6th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of WestRock from $58.00 to $59.00 in a report on Monday, April 19th. Finally, BMO Capital Markets boosted their price objective on shares of WestRock from $54.00 to $61.00 and gave the stock an “outperform” rating in a report on Wednesday, March 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $53.42.
WestRock (NYSE:WRK) last issued its quarterly earnings data on Wednesday, May 5th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.08). The company had revenue of $4.44 billion for the quarter, compared to analysts’ expectations of $4.51 billion. WestRock had a net margin of 4.37% and a return on equity of 7.24%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 earnings per share. Analysts predict that WestRock will post 2.61 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 28th. Shareholders of record on Wednesday, May 19th will be given a dividend of $0.24 per share. This is an increase from WestRock’s previous quarterly dividend of $0.20. This represents a $0.96 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Tuesday, May 18th. WestRock’s payout ratio is presently 20.10%.
In other WestRock news, insider Jeffrey Wayne Chalovich sold 19,600 shares of the business’s stock in a transaction on Thursday, March 11th. The shares were sold at an average price of $51.23, for a total transaction of $1,004,108.00. Following the transaction, the insider now directly owns 123,694 shares of the company’s stock, valued at approximately $6,336,843.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.92% of the stock is currently owned by insiders.
WestRock Company manufactures and sells paper and packaging solutions in North America, South America, Europe, Asia, and Australia. The company operates through Corrugated Packaging and Consumer Packaging segments. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards for sale to consumer and industrial products manufacturers, and corrugated box manufacturers.
Featured Story: How Buying a Call Option Works
Want to see what other hedge funds are holding WRK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WestRock (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.