John A. Luke, Jr. Sells 10,343 Shares of Westrock Company (WRK) Stock

Westrock Company (NYSE:WRK) Director John A. Luke, Jr. sold 10,343 shares of the stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $58.83, for a total transaction of $608,478.69. Following the completion of the sale, the director now owns 497,557 shares of the company’s stock, valued at approximately $29,271,278.31. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Westrock Company (NYSE WRK) opened at 59.60 on Friday. The stock’s 50 day moving average is $57.68 and its 200-day moving average is $55.98. The company has a market cap of $14.95 billion, a P/E ratio of 36.17 and a beta of 1.35. Westrock Company has a 12-month low of $43.79 and a 12-month high of $60.36.

Westrock (NYSE:WRK) last posted its quarterly earnings results on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.10. Westrock had a net margin of 2.92% and a return on equity of 6.38%. The firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same period in the prior year, the firm posted $0.71 earnings per share. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. Analysts predict that Westrock Company will post $2.57 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its position in Westrock by 3,569.1% during the first quarter. BlackRock Inc. now owns 22,418,080 shares of the basic materials company’s stock worth $1,166,413,000 after acquiring an additional 21,807,090 shares in the last quarter. Ronna Sue Cohen raised its position in Westrock by 0.3% during the second quarter. Ronna Sue Cohen now owns 4,601 shares of the basic materials company’s stock worth $261,000 after acquiring an additional 12 shares in the last quarter. Aviva PLC raised its position in Westrock by 0.4% during the second quarter. Aviva PLC now owns 156,270 shares of the basic materials company’s stock worth $8,856,000 after acquiring an additional 640 shares in the last quarter. Thrivent Financial For Lutherans raised its position in Westrock by 48.7% during the second quarter. Thrivent Financial For Lutherans now owns 1,328,089 shares of the basic materials company’s stock worth $75,250,000 after acquiring an additional 434,790 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new stake in Westrock during the second quarter worth $2,221,000. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

WRK has been the subject of a number of research analyst reports. Royal Bank Of Canada reiterated a “buy” rating and issued a $65.00 target price on shares of Westrock in a research report on Monday, September 25th. Jefferies Group LLC reiterated a “buy” rating and issued a $69.00 target price on shares of Westrock in a research report on Friday, August 4th. Zacks Investment Research upgraded shares of Westrock from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a research report on Friday, July 14th. Deutsche Bank AG reiterated a “buy” rating and issued a $65.00 target price (up previously from $61.00) on shares of Westrock in a research report on Monday, October 9th. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of Westrock from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, July 13th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $64.33.

Westrock Company Profile

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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