Several other analysts also recently weighed in on WRK. Jefferies Group LLC reiterated a buy rating and set a $65.00 target price on shares of WestRock in a research report on Tuesday, March 7th. BMO Capital Markets reiterated a buy rating and set a $62.00 target price on shares of WestRock in a research report on Wednesday, January 25th. Bank of America Corp upgraded WestRock from a neutral rating to a buy rating in a research report on Friday, January 27th. Barclays PLC reiterated an equal weight rating and set a $50.00 target price (up from $46.00) on shares of WestRock in a research report on Thursday, January 26th. Finally, Credit Suisse Group AG set a $66.00 target price on WestRock and gave the stock a buy rating in a research report on Thursday, February 16th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of Buy and an average price target of $60.40.
WestRock (NYSE:WRK) last issued its quarterly earnings results on Wednesday, April 26th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.07. The company had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.59 billion. WestRock had a return on equity of 6.32% and a net margin of 0.96%. WestRock’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the company earned $0.61 earnings per share.
COPYRIGHT VIOLATION NOTICE: “WestRock Co (WRK) Rating Reiterated by Citigroup Inc” was published by Community Financial News and is the sole property of of Community Financial News. If you are accessing this piece of content on another publication, it was stolen and reposted in violation of United States and international trademark & copyright laws. The correct version of this piece of content can be read at https://www.com-unik.info/2017/05/19/westrock-co-wrk-rating-reiterated-by-citigroup-inc-updated-updated-updated.html.
The firm also recently declared a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Friday, May 5th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend was Wednesday, May 3rd. WestRock’s dividend payout ratio is presently 301.89%.
In related news, Director John A. Luke, Jr. sold 75,000 shares of WestRock stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $53.83, for a total transaction of $4,037,250.00. Following the completion of the sale, the director now owns 495,435 shares of the company’s stock, valued at $26,669,266.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Arnold Stephen Meadows sold 8,900 shares of WestRock stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $54.44, for a total value of $484,516.00. Following the sale, the insider now directly owns 86,939 shares of the company’s stock, valued at approximately $4,732,959.16. The disclosure for this sale can be found here. In the last three months, insiders sold 138,900 shares of company stock valued at $7,554,466. Corporate insiders own 2.68% of the company’s stock.
Several large investors have recently added to or reduced their stakes in WRK. FNY Partners Fund LP increased its position in shares of WestRock by 700.0% in the first quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock worth $104,000 after buying an additional 1,750 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of WestRock by 16.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,039 shares of the basic materials company’s stock worth $106,000 after buying an additional 294 shares during the last quarter. MSI Financial Services Inc increased its position in shares of WestRock by 61.3% in the third quarter. MSI Financial Services Inc now owns 2,060 shares of the basic materials company’s stock worth $100,000 after buying an additional 783 shares during the last quarter. Welch Group LLC bought a new position in shares of WestRock during the third quarter worth about $117,000. Finally, TLP Group LLC bought a new position in shares of WestRock during the third quarter worth about $131,000. 90.57% of the stock is owned by hedge funds and other institutional investors.
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.
What are top analysts saying about WestRock Co? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for WestRock Co and related companies.