Trade Report: The Chevy Chase Trust Holdings Inc. reduces its investment in WestRock Co. (WRK)

The Chevy Chase Trust Holdings Inc. reduces its investment in WestRock Co. (WRK)

Chevy Chase Trust Holdings Inc. decreased its position in shares of WestRock Co. (NYSE:WRK) by 2.7% during the third quarter, Holdings Channel reports. The firm owned 209,897 shares of the company’s stock after selling 5,930 shares during the period. Chevy Chase Trust Holdings Inc.’s holdings in WestRock were worth $10,176,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Mizuho Asset Management Co. Ltd. bought a new stake in shares of WestRock during the second quarter valued at $135,000. Botty Investors LLC bought a new stake in shares of WestRock during the second quarter valued at $137,000. Societe Generale bought a new stake in shares of WestRock during the second quarter valued at $201,000. Rehmann Capital Advisory Group bought a new stake in shares of WestRock during the second quarter valued at $227,000. Finally, Cubist Systematic Strategies LLC increased its stake in shares of WestRock by 2.9% in the second quarter. Cubist Systematic Strategies LLC now owns 5,841 shares of the company’s stock valued at $227,000 after buying an additional 162 shares during the last quarter. 91.70% of the stock is owned by hedge funds and other institutional investors.

WestRock Co. (NYSE:WRK) traded up 0.49% during trading on Friday, hitting $51.11. The stock had a trading volume of 411,765 shares. The company’s market cap is $12.69 billion. The stock has a 50-day moving average price of $47.56 and a 200-day moving average price of $44.08. WestRock Co. has a 52 week low of $29.73 and a 52 week high of $52.10.

WestRock (NYSE:WRK) last posted its 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. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $2.54 billion. WestRock had a negative net margin of 2.72% and a positive return on equity of 6.41%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the business posted $0.93 earnings per share. Equities analysts predict that WestRock Co. will post $2.85 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Monday, November 21st will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.13%. This is an increase from WestRock’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, November 17th. WestRock’s dividend payout ratio is presently -103.23%.

WRK has been the subject of several analyst reports. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $56.00 target price on shares of WestRock in a research report on Monday, November 7th. Zacks Investment Research downgraded WestRock from a “buy” rating to a “hold” rating in a research report on Tuesday, November 15th. Jefferies Group reaffirmed a “buy” rating on shares of WestRock in a research report on Monday, August 22nd. Citigroup Inc. upped their target price on WestRock from $52.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, August 31st. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $52.00 target price on shares of WestRock in a research report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $53.12.

In other WestRock news, Director G Stephen Felker sold 10,000 shares of the stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $50.00, for a total transaction of $500,000.00. Following the transaction, the director now directly owns 73,420 shares of the company’s stock, valued at $3,671,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John A. Luke, Jr. sold 188,103 shares of the firm’s stock in a transaction dated 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 directly owns 837,343 shares in the company, valued at $39,036,930.66. The disclosure for this sale can be found here. Company insiders own 2.41% of the company’s stock.

About WestRock

Westrock Company is a provider of packaging solutions and manufactures containerboard and paperboard. The Company’s operating segments include Corrugated Packaging, Consumer Packaging, Specialty Chemicals, and Land and Development. The Company operates in North America, South America, Europe and Asia.

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