WestRock (NYSE:WRK) PT Lowered to $32.00

WestRock (NYSE:WRK – Get Rating) had its target price lowered by Deutsche Bank Aktiengesellschaft from $34.00 to $32.00 in a research note released on Wednesday morning, The Fly reports.

WRK has been the topic of several other research reports. Citigroup dropped their target price on shares of WestRock from $39.00 to $37.00 in a report on Wednesday, January 4th. Wells Fargo & Company raised their target price on shares of WestRock from $24.00 to $27.00 and gave the stock an overweight rating in a report on Thursday, February 2nd. StockNews.com cut shares of WestRock from a buy rating to a hold rating in a report on Thursday, February 2nd. Finally, Argus cut shares of WestRock from a buy rating to a hold rating in a report on Monday, February 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $34.29.

WestRock Trading Down 2.6 %

NYSE:WRK opened at $27.07 on Wednesday. The company’s 50 day moving average price is $33.63 and its 200-day moving average price is $34.75. WestRock has a 52 week low of $26.84 and a 52 week high of $54.78. The company has a quick ratio of 1.00, a current ratio of 1.51 and a debt-to-equity ratio of 0.78. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of 8.62, a PEG ratio of 0.89 and a beta of 1.20.

WestRock (NYSE:WRK – Get Rating) last posted its quarterly earnings results on Wednesday, February 1st. The basic materials company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). WestRock had a net margin of 3.80% and a return on equity of 10.53%. The firm had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $5.11 billion. During the same quarter in the previous year, the company earned $0.65 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities research analysts forecast that WestRock will post 2.9 earnings per share for the current fiscal year.

WestRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 22nd. Shareholders of record on Friday, February 10th were given a $0.275 dividend. The ex-dividend date was Thursday, February 9th. This represents a $1.10 annualized dividend and a yield of 4.06%. WestRock’s payout ratio is presently 35.03%.

Institutional Trading of WestRock

Several institutional investors and hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. raised its position in shares of WestRock by 44.2% during the 4th quarter. Victory Capital Management Inc. now owns 180,512 shares of the basic materials company’s stock valued at $6,347,000 after purchasing an additional 55,306 shares during the period. Voya Investment Management LLC raised its position in shares of WestRock by 1.6% during the 4th quarter. Voya Investment Management LLC now owns 413,524 shares of the basic materials company’s stock valued at $14,540,000 after purchasing an additional 6,414 shares during the period. Natixis raised its position in shares of WestRock by 309.6% during the 4th quarter. Natixis now owns 69,734 shares of the basic materials company’s stock valued at $2,452,000 after purchasing an additional 52,711 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of WestRock by 49.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 228,077 shares of the basic materials company’s stock valued at $8,019,000 after purchasing an additional 75,077 shares during the period. Finally, Alliancebernstein L.P. raised its position in shares of WestRock by 5.6% during the 4th quarter. Alliancebernstein L.P. now owns 419,769 shares of the basic materials company’s stock valued at $14,759,000 after purchasing an additional 22,152 shares during the period. 84.08% of the stock is currently owned by institutional investors.

About WestRock

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WestRock Co engages in the provision of sustainable fiber-based paper and packaging solutions. It operates through the following segments: Corrugated Packaging, Consumer Packaging, Global Paper, and Distribution. The Corrugated Packaging segment consists of the sale of corrugated containers and other corrugated products including displays.