WestRock (NYSE:WRK – Free Report) had its price target raised by Truist Financial from $29.00 to $34.00 in a research report released on Friday, Marketbeat Ratings reports. They currently have a hold rating on the basic materials company’s stock.
WRK has been the subject of several other reports. StockNews.com assumed coverage on WestRock in a research report on Thursday, May 18th. They set a hold rating for the company. Royal Bank of Canada lifted their price objective on WestRock from $33.00 to $36.00 and gave the stock a sector perform rating in a research report on Friday. UBS Group cut their price objective on WestRock from $42.00 to $37.00 in a research report on Friday, June 30th. Finally, Bank of America upgraded WestRock from a neutral rating to a buy rating and lifted their price objective for the stock from $38.00 to $40.00 in a research report on Thursday, April 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $35.78.
Read Our Latest Stock Report on WRK
WestRock Price Performance
WestRock (NYSE:WRK – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The basic materials company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.50 by $0.39. The business had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.16 billion. WestRock had a positive return on equity of 8.75% and a negative net margin of 6.82%. The company’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.54 EPS. Research analysts anticipate that WestRock will post 2.37 earnings per share for the current year.
WestRock Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.10 annualized dividend and a dividend yield of 3.20%. WestRock’s dividend payout ratio is presently -19.86%.
Institutional Trading of WestRock
A number of institutional investors have recently added to or reduced their stakes in WRK. Natixis Advisors L.P. boosted its position in WestRock by 14.7% during the 1st quarter. Natixis Advisors L.P. now owns 39,928 shares of the basic materials company’s stock worth $1,878,000 after purchasing an additional 5,108 shares during the period. MetLife Investment Management LLC boosted its position in WestRock by 21.3% during the 1st quarter. MetLife Investment Management LLC now owns 71,551 shares of the basic materials company’s stock worth $3,365,000 after purchasing an additional 12,559 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in WestRock by 5.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 35,219 shares of the basic materials company’s stock valued at $1,656,000 after buying an additional 1,705 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in WestRock by 0.9% in the 1st quarter. Great West Life Assurance Co. Can now owns 208,790 shares of the basic materials company’s stock valued at $10,379,000 after buying an additional 1,762 shares during the last quarter. Finally, Yousif Capital Management LLC boosted its position in WestRock by 0.6% in the 1st quarter. Yousif Capital Management LLC now owns 53,133 shares of the basic materials company’s stock valued at $2,499,000 after buying an additional 340 shares during the last quarter. 84.54% of the stock is owned by hedge funds and other institutional investors.
WestRock Company Profile
WestRock Company, together with its subsidiaries, provides fiber-based paper and packaging solutions in North America, South America, Europe, Asia, and Australia. It operates in four segments, Corrugated Packaging, Consumer Packaging, Global Paper, and Distribution. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards to consumer and industrial products manufacturers, and corrugated box manufacturers.
Read More
- Five stocks we like better than WestRock
- How to Invest in Casino Stocks
- 8 Best Meme Stocks to Buy Now
- Upcoming IPO Stock Lockup Period, Explained
- Is Now The Time To Buy XLF Financial ETF?
- The “How” and “Why” of Investing in 5G Stocks
- Three Ways To Play The Rise In Oil Prices
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.
