California State Teachers Retirement System Reduces Position in WestRock Co (WRK)

California State Teachers Retirement System lessened its position in WestRock Co (NYSE:WRK) by 7.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 435,634 shares of the basic materials company’s stock after selling 37,141 shares during the period. California State Teachers Retirement System owned about 0.17% of WestRock worth $24,714,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Norinchukin Bank The lifted its stake in shares of 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 buying an additional 54 shares in the last quarter. Keybank National Association OH lifted its stake in shares of 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 buying an additional 102 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of 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 buying an additional 108 shares in the last quarter. ETRADE Capital Management LLC lifted its stake in shares of 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 buying an additional 224 shares in the last quarter. Finally, Raymond James Trust N.A. lifted its stake in shares of WestRock by 2.8% in the second quarter. Raymond James Trust N.A. now owns 10,706 shares of the basic materials company’s stock worth $607,000 after buying an additional 289 shares in the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

In other WestRock news, Director John A. Luke, Jr. sold 10,343 shares of the company’s stock in a transaction that occurred 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 $28,544,845.09. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robert A. Feeser sold 29,972 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were 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. In the last 90 days, insiders have sold 161,788 shares of company stock worth $9,629,984. 2.68% of the stock is owned by insiders.

Several research analysts have recently issued reports on WRK shares. Deutsche Bank set a $70.00 target price on shares of WestRock and gave the stock a “buy” rating in a research note on Thursday, December 14th. Royal Bank of Canada reiterated a “buy” rating and issued a $65.00 target price on shares of WestRock in a research note on Monday, September 25th. DA Davidson reiterated a “buy” rating and issued a $74.00 target price on shares of WestRock in a research note on Friday, November 3rd. Barclays upped their target price on shares of WestRock from $58.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Monday, November 6th. Finally, Stephens started coverage on shares of WestRock in a research note on Tuesday, October 24th. They issued an “equal weight” rating and a $61.00 target price on the stock. Five 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 has a consensus rating of “Buy” and a consensus price target of $66.09.

WestRock Co (NYSE:WRK) opened at $63.86 on Tuesday. The firm has a market cap of $16,068.69, a P/E ratio of 24.09, a P/E/G ratio of 1.53 and a beta of 1.37. WestRock Co has a 52-week low of $49.23 and a 52-week high of $64.87. The company has a current ratio of 1.49, a quick ratio of 0.89 and a debt-to-equity ratio of 0.57.

WestRock (NYSE:WRK) last issued its quarterly earnings data on Thursday, November 2nd. The basic materials company reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.06. The company had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.13 billion. WestRock had a net margin of 4.77% and a return on equity of 6.73%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.71 earnings per share. equities analysts expect that WestRock Co will post 3.72 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Friday, November 10th were given a dividend of $0.43 per share. This is an increase from WestRock’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, November 9th. This represents a $1.72 dividend on an annualized basis and a yield of 2.69%. WestRock’s dividend payout ratio is 62.09%.

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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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Institutional Ownership by Quarter for WestRock (NYSE:WRK)

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