WestRock Co (WRK) Director John A. Luke, Jr. Sells 10,343 Shares of Stock
WestRock Co (NYSE:WRK) Director John A. Luke, Jr. sold 10,343 shares of the company’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $64.35, for a total transaction of $665,572.05. Following the completion of the sale, the director now directly owns 497,557 shares of the company’s stock, valued at $32,017,792.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
WestRock Co (WRK) opened at $63.94 on Wednesday. WestRock Co has a fifty-two week low of $49.23 and a fifty-two week high of $64.87. The company has a current ratio of 1.49, a quick ratio of 0.89 and a debt-to-equity ratio of 0.57. The stock has a market cap of $16,402.26, a PE ratio of 24.59, a PEG ratio of 1.50 and a beta of 1.37.
WestRock (NYSE:WRK) last posted its quarterly earnings data on Thursday, November 2nd. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.06. WestRock had a net margin of 4.77% and a return on equity of 6.73%. The firm had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter in the prior year, the company posted $0.71 earnings per share. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. sell-side analysts forecast that WestRock Co will post 3.72 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Stockholders of record on Friday, November 10th were issued a dividend of $0.43 per share. The ex-dividend date was Thursday, November 9th. This represents a $1.72 annualized dividend and a dividend yield of 2.69%. This is an increase from WestRock’s previous quarterly dividend of $0.40. WestRock’s dividend payout ratio is 62.09%.
WRK has been the subject of a number of research reports. Deutsche Bank reaffirmed a “buy” rating and issued a $65.00 price objective (up from $61.00) on shares of WestRock in a research note on Monday, October 9th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $65.00 price objective on shares of WestRock in a research note on Monday, September 25th. DA Davidson reaffirmed a “buy” rating and issued a $74.00 price objective on shares of WestRock in a research note on Friday, November 3rd. Barclays upped their price objective on shares of WestRock from $58.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Monday, November 6th. Finally, Stephens initiated coverage on shares of WestRock in a research note on Tuesday, October 24th. They issued an “equal weight” rating and a $61.00 price objective for the company. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $65.64.
Several institutional investors and hedge funds have recently bought and sold shares of WRK. Eqis Capital Management Inc. boosted its position in WestRock by 9.9% in the third quarter. Eqis Capital Management Inc. now owns 11,786 shares of the basic materials company’s stock valued at $669,000 after buying an additional 1,058 shares during the last quarter. Stephens Inc. AR purchased a new stake in WestRock in the third quarter valued at approximately $442,000. BlackRock Inc. boosted its position in WestRock by 0.8% in the second quarter. BlackRock Inc. now owns 22,598,192 shares of the basic materials company’s stock valued at $1,280,411,000 after buying an additional 180,112 shares during the last quarter. Thrivent Financial For Lutherans boosted its position in WestRock by 48.7% in the second quarter. Thrivent Financial For Lutherans now owns 1,328,089 shares of the basic materials company’s stock valued at $75,250,000 after buying an additional 434,790 shares during the last quarter. Finally, Aviva PLC boosted its position in WestRock by 0.4% in the second quarter. Aviva PLC now owns 156,270 shares of the basic materials company’s stock valued at $8,856,000 after buying an additional 640 shares during the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.
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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