WestRock Co. (NYSE:WRK)‘s stock had its “buy” rating reiterated by research analysts at Jefferies Group in a research note issued to investors on Wednesday. They currently have a $62.00 price target on the stock. Jefferies Group’s price objective suggests a potential upside of 21.90% from the stock’s current price.
Several other brokerages have also recently commented on WRK. Credit Suisse Group AG reiterated a “buy” rating and set a $56.00 price target on shares of WestRock in a research report on Monday, November 7th. Zacks Investment Research cut WestRock from a “buy” rating to a “hold” rating in a research report on Tuesday, November 15th. Citigroup Inc. boosted their price target on WestRock from $52.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, August 31st. BMO Capital Markets reiterated a “buy” rating and set a $52.00 price target on shares of WestRock in a research report on Friday, August 5th. Finally, boosted their price target on WestRock from $46.00 to $54.00 and gave the stock an “underperform” rating in a research report on Tuesday, September 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $53.12.
Shares of WestRock (NYSE:WRK) opened at 50.86 on Wednesday. WestRock has a 1-year low of $29.73 and a 1-year high of $52.10. The firm has a 50-day moving average price of $47.45 and a 200-day moving average price of $44.01. The stock’s market cap is $12.81 billion.
WestRock (NYSE:WRK) last issued its quarterly earnings results on Monday, November 7th. The company reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.08. WestRock had a positive return on equity of 6.41% and a negative net margin of 2.72%. The firm earned $3.61 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the previous year, the business earned $0.93 earnings per share. The firm’s revenue for the quarter was down .1% on a year-over-year basis. Equities analysts forecast that WestRock will post $2.85 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Monday, November 21st will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Thursday, November 17th. This is a positive change from WestRock’s previous quarterly dividend of $0.38. WestRock’s dividend payout ratio is -103.23%.
In related news, insider James B. Porter sold 110,000 shares of the business’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $48.19, for a total value of $5,300,900.00. Following the sale, the insider now owns 66,258 shares in the company, valued at approximately $3,192,973.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John A. Luke, Jr. sold 188,103 shares of the business’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $46.62, for a total value of $8,769,361.86. Following the completion of the sale, the director now owns 837,343 shares in the company, valued at approximately $39,036,930.66. The disclosure for this sale can be found here. 2.41% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the stock. MSI Financial Services Inc increased its stake in WestRock by 61.3% in the third quarter. MSI Financial Services Inc now owns 2,060 shares of the company’s stock valued at $100,000 after buying an additional 783 shares in the last quarter. Welch Group LLC purchased a new stake in WestRock during the third quarter valued at about $117,000. TLP Group LLC purchased a new stake in WestRock during the third quarter valued at about $131,000. Assetmark Inc. purchased a new stake in WestRock during the third quarter valued at about $139,000. Finally, Mizuho Asset Management Co. Ltd. purchased a new stake in WestRock during the second quarter valued at about $135,000. Hedge funds and other institutional investors own 91.70% of the company’s stock.
WestRock Company Profile