Wells Fargo & Company MN Buys 9,734 Shares of Westrock Company (WRK)
Wells Fargo & Company MN increased its stake in shares of Westrock Company (NYSE:WRK) by 1.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 543,735 shares of the basic materials company’s stock after purchasing an additional 9,734 shares during the period. Wells Fargo & Company MN owned 0.22% of Westrock worth $30,807,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. FNY Partners Fund LP lifted its holdings in Westrock by 700.0% during the 1st quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock worth $104,000 after purchasing an additional 1,750 shares in the last quarter. Global X Management Co. LLC lifted its holdings in Westrock by 36.9% during the 1st quarter. Global X Management Co. LLC now owns 3,217 shares of the basic materials company’s stock worth $167,000 after purchasing an additional 867 shares in the last quarter. Pennsylvania Trust Co purchased a new stake in Westrock during the 2nd quarter worth about $201,000. IBM Retirement Fund purchased a new stake in Westrock during the 2nd quarter worth about $204,000. Finally, Ronald Blue & Co. LLC purchased a new stake in Westrock during the 2nd quarter worth about $208,000. 88.57% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Jeffrey Wayne Chalovich sold 18,368 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $58.41, for a total value of $1,072,874.88. Following the sale, the insider now directly owns 24,859 shares in the company, valued at $1,452,014.19. 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 10,343 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $56.96, for a total value of $589,137.28. Following the completion of the sale, the director now owns 497,557 shares in the company, valued at $28,340,846.72. The disclosure for this sale can be found here. Insiders sold 422,693 shares of company stock worth $23,727,055 over the last quarter. 2.68% of the stock is owned by company insiders.
A number of analysts recently issued reports on the company. Barclays PLC increased their price objective on Westrock from $52.00 to $54.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 18th. Zacks Investment Research raised Westrock from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a report on Friday, July 14th. Jefferies Group LLC restated a “buy” rating and issued a $68.00 target price on shares of Westrock in a research note on Friday, July 14th. Goldman Sachs Group, Inc. (The) upgraded Westrock from a “buy” rating to a “conviction-buy” rating in a research note on Thursday, July 13th. Finally, BidaskClub lowered Westrock from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $63.44.
Westrock Company (NYSE:WRK) opened at 57.61 on Friday. The company has a market capitalization of $14.45 billion, a price-to-earnings ratio of 34.96 and a beta of 1.37. Westrock Company has a 52 week low of $43.79 and a 52 week high of $59.02. The firm has a 50-day moving average price of $57.59 and a 200-day moving average price of $57.59.
Westrock (NYSE:WRK) last announced its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.10. Westrock had a return on equity of 6.38% and a net margin of 2.92%. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the previous year, the business earned $0.71 earnings per share. The business’s revenue was up 2.8% on a year-over-year basis. Analysts anticipate that Westrock Company will post $2.61 EPS for the current fiscal year.
WestRock Company, incorporated on March 6, 2015, is a multinational provider of paper and packaging solutions for consumer and corrugated packaging markets. The Company also develops real estate in the Charleston, South Carolina region. The Company’s segments include Corrugated Packaging, Consumer Packaging, and Land and Development.
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