Raymond James Financial Services Advisors Inc. lifted its stake in shares of WestRock Co (NYSE:WRK) by 636.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 226,959 shares of the basic materials company’s stock after buying an additional 196,154 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in WestRock were worth $14,347,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in WRK. Invictus RG bought a new position in shares of WestRock in the 3rd quarter worth $108,000. Old Mutual Global Investors UK Ltd. bought a new position in shares of WestRock in the 3rd quarter worth $130,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of WestRock in the 3rd quarter worth $147,000. Steward Partners Investment Advisory LLC lifted its holdings in shares of WestRock by 3,666.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,013 shares of the basic materials company’s stock worth $190,000 after purchasing an additional 2,933 shares in the last quarter. Finally, Harbour Capital Advisors LLC bought a new position in shares of WestRock in the 3rd quarter worth $216,000. 86.98% of the stock is owned by institutional investors.
In other news, insider James B. Porter sold 14,930 shares of the firm’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $70.00, for a total transaction of $1,045,100.00. Following the completion of the sale, the insider now directly owns 50,093 shares of the company’s stock, valued at approximately $3,506,510. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John A. Luke, Jr. sold 10,343 shares of the firm’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $58.58, for a total value of $605,892.94. Following the sale, the director now directly owns 497,557 shares of the company’s stock, valued at $29,146,889.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 228,938 shares of company stock valued at $14,684,034. Insiders own 2.20% of the company’s stock.
A number of equities analysts recently issued reports on the company. Barclays increased their target price on WestRock from $60.00 to $64.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. ValuEngine upgraded WestRock from a “hold” rating to a “buy” rating in a report on Friday, February 9th. Zacks Investment Research upgraded WestRock from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a report on Saturday, February 3rd. Bank of America raised their price objective on WestRock from $73.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Finally, Citigroup raised their price objective on WestRock from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $74.25.
WestRock Co (WRK) opened at $66.32 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.74 and a current ratio of 1.28. WestRock Co has a 52 week low of $49.23 and a 52 week high of $71.55. The firm has a market capitalization of $16,890.00 and a price-to-earnings ratio of 9.71.
WestRock (NYSE:WRK) last issued its quarterly earnings data on Monday, January 29th. The basic materials company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.12. WestRock had a return on equity of 7.45% and a net margin of 11.51%. The business had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.95 billion. During the same period last year, the business earned $0.47 EPS. The business’s revenue was up 13.0% on a year-over-year basis. equities research analysts anticipate that WestRock Co will post 3.95 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 26th. Shareholders of record on Friday, February 16th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Thursday, February 15th. WestRock’s dividend payout ratio (DPR) is presently 25.18%.
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.
Want to see what other hedge funds are holding WRK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WestRock Co (NYSE:WRK).
Receive News & Ratings for WestRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WestRock and related companies with MarketBeat.com's FREE daily email newsletter.