WestRock (NYSE:WRK) Price Target Raised to $57.00

WestRock (NYSE:WRK) had its target price increased by Argus from $50.00 to $57.00 in a report published on Monday morning, Benzinga reports. Argus currently has a buy rating on the basic materials company’s stock.

Several other research firms have also weighed in on WRK. Wells Fargo & Company raised their price objective on shares of WestRock from $46.00 to $51.00 and gave the stock an equal weight rating in a report on Friday, May 3rd. Seaport Res Ptn lowered shares of WestRock from a buy rating to a neutral rating in a report on Monday, January 29th. StockNews.com began coverage on shares of WestRock in a report on Thursday, May 2nd. They set a hold rating for the company. Finally, Royal Bank of Canada reissued a sector perform rating and issued a $42.00 price target on shares of WestRock in a report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, WestRock currently has an average rating of Hold and an average price target of $47.60.

WestRock Stock Up 0.4 %

Shares of WRK opened at $51.81 on Monday. The stock has a market cap of $13.32 billion, a price-to-earnings ratio of 43.54, a P/E/G ratio of 4.77 and a beta of 1.10. The company has a quick ratio of 0.85, a current ratio of 1.34 and a debt-to-equity ratio of 0.77. WestRock has a 12 month low of $26.85 and a 12 month high of $52.07. The company has a 50-day moving average price of $48.16 and a two-hundred day moving average price of $43.11.

WestRock (NYSE:WRK) last posted its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.14. The company had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.75 billion. WestRock had a net margin of 1.57% and a return on equity of 5.85%. The company’s revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the business posted $0.77 earnings per share. Equities analysts predict that WestRock will post 1.93 EPS for the current fiscal year.

WestRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th will be issued a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Monday, May 13th. WestRock’s dividend payout ratio is currently 101.68%.

Insider Activity at WestRock

In related news, EVP Denise R. Singleton sold 9,700 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $51.46, for a total value of $499,162.00. Following the completion of the sale, the executive vice president now owns 74,946 shares of the company’s stock, valued at $3,856,721.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other WestRock news, EVP Denise R. Singleton sold 9,700 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $51.46, for a total value of $499,162.00. Following the transaction, the executive vice president now directly owns 74,946 shares of the company’s stock, valued at $3,856,721.16. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John L. O’neal sold 6,965 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $51.47, for a total transaction of $358,488.55. Following the completion of the transaction, the insider now directly owns 60,491 shares in the company, valued at $3,113,471.77. The disclosure for this sale can be found here. Insiders sold a total of 20,165 shares of company stock valued at $1,007,346 over the last quarter. Corporate insiders own 0.49% of the company’s stock.

Hedge Funds Weigh In On WestRock

A number of hedge funds and other institutional investors have recently bought and sold shares of WRK. NBC Securities Inc. bought a new position in shares of WestRock during the third quarter worth $27,000. International Assets Investment Management LLC boosted its position in shares of WestRock by 268.7% during the fourth quarter. International Assets Investment Management LLC now owns 789 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 575 shares in the last quarter. OLD Point Trust & Financial Services N A bought a new position in shares of WestRock during the fourth quarter worth $35,000. Clear Street Markets LLC boosted its position in shares of WestRock by 198.5% during the third quarter. Clear Street Markets LLC now owns 1,000 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 665 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in shares of WestRock by 59.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 320 shares in the last quarter. 83.38% of the stock is owned by institutional investors.

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.