WestRock (WRK) Given New $68.00 Price Target at BMO Capital Markets
WestRock (NYSE:WRK) had its price objective upped by BMO Capital Markets to $68.00 in a research note published on Tuesday. They currently have an outperform rating on the basic materials company’s stock.
A number of other research firms have also weighed in on WRK. Stephens began 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. Zacks Investment Research lowered shares of WestRock from a strong-buy rating to a hold rating in a research report on Tuesday, November 7th. KeyCorp restated a hold rating on shares of WestRock in a research report on Wednesday, October 11th. Barclays boosted their price target on shares of WestRock from $58.00 to $60.00 and gave the company an equal weight rating in a research report on Monday, November 6th. Finally, Deutsche Bank restated a buy rating and set a $65.00 price target (up from $61.00) on shares of WestRock in a research report on Monday, October 9th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $65.64.
WestRock (WRK) opened at $63.94 on Tuesday. WestRock has a one year low of $49.23 and a one year high of $64.87. The firm has a market cap of $16,402.26, a P/E ratio of 24.59, a P/E/G ratio of 1.50 and a beta of 1.37. The company has a quick ratio of 0.89, a current ratio of 1.49 and a debt-to-equity ratio of 0.57.
WestRock (NYSE:WRK) last released its quarterly earnings data on Thursday, November 2nd. The basic materials company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.06. WestRock had a net margin of 4.77% and a return on equity of 6.73%. The business had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same period in the previous year, the business earned $0.71 EPS. WestRock’s revenue was up 12.4% compared to the same quarter last year. equities analysts predict that WestRock will post 3.72 earnings per share for the current fiscal 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. This is an increase from WestRock’s previous quarterly dividend of $0.40. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend was Thursday, November 9th. WestRock’s payout ratio is currently 62.09%.
In other news, Director John A. Luke, Jr. sold 10,343 shares of WestRock stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $57.37, for a total transaction of $593,377.91. Following the completion of the sale, the director now directly owns 497,557 shares of the company’s stock, valued at approximately $28,544,845.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert A. Feeser sold 29,972 shares of WestRock stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $60.00, for a total transaction of $1,798,320.00. The disclosure for this sale can be found here. Insiders have sold a total of 161,788 shares of company stock valued at $9,629,984 over the last ninety days. 2.68% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Norinchukin Bank The lifted its stake in WestRock by 0.3% in the second quarter. Norinchukin Bank The now owns 20,926 shares of the basic materials company’s stock worth $1,186,000 after purchasing an additional 54 shares during the last quarter. Wetherby Asset Management Inc. lifted its stake in WestRock by 1.4% in the second quarter. Wetherby Asset Management Inc. now owns 4,495 shares of the basic materials company’s stock worth $255,000 after purchasing an additional 60 shares during the last quarter. Keybank National Association OH lifted its stake in WestRock by 0.5% in the second quarter. Keybank National Association OH now owns 22,676 shares of the basic materials company’s stock worth $1,285,000 after purchasing an additional 102 shares during the last quarter. Van ECK Associates Corp lifted its stake in WestRock by 1.8% in the second quarter. Van ECK Associates Corp now owns 6,139 shares of the basic materials company’s stock worth $348,000 after purchasing an additional 108 shares during the last quarter. Finally, ETRADE Capital Management LLC lifted its stake in WestRock by 4.7% in the second quarter. ETRADE Capital Management LLC now owns 5,001 shares of the basic materials company’s stock worth $283,000 after purchasing an additional 224 shares during the last quarter. 87.95% of the stock is owned by institutional investors.
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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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