WestRock Co (NYSE:WRK) announced a quarterly dividend on Monday, February 5th, Wall Street Journal reports. Stockholders of record on Friday, February 16th will be paid a dividend of 0.43 per share by the basic materials company on Monday, February 26th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Thursday, February 15th.
WestRock has a payout ratio of 45.4% meaning its dividend is sufficiently covered by earnings. Analysts expect WestRock to earn $4.54 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 37.9%.
Shares of WestRock (NYSE WRK) opened at $62.33 on Friday. The company has a market cap of $15,544.90, a P/E ratio of 20.17, a PEG ratio of 1.20 and a beta of 1.42. WestRock has a one year low of $49.23 and a one year high of $71.55. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.74 and a current ratio of 1.28.
In related news, insider Robert A. Feeser sold 29,972 shares of WestRock stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $60.00, for a total value of $1,798,320.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John A. Luke, Jr. sold 124,621 shares of WestRock stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $65.34, for a total transaction of $8,142,736.14. Following the completion of the sale, the director now directly owns 547,443 shares in the company, valued at approximately $35,769,925.62. The disclosure for this sale can be found here. Insiders sold a total of 249,624 shares of company stock worth $15,897,888 in the last three months. 2.68% of the stock is owned by corporate insiders.
A number of brokerages have recently commented on WRK. DA Davidson reaffirmed a “buy” rating and set a $82.00 price objective on shares of WestRock in a research note on Tuesday, January 30th. Zacks Investment Research raised shares of WestRock from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a research note on Saturday, February 3rd. ValuEngine raised shares of WestRock from a “hold” rating to a “buy” rating in a research note on Friday. Deutsche Bank set a $78.00 price objective on shares of WestRock and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $77.00 price target on shares of WestRock in a research note on Thursday, January 25th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $73.92.
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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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