Gilliland Jeter Wealth Management LLC Buys New Holdings in WestRock (NYSE:WRK)

Gilliland Jeter Wealth Management LLC bought a new stake in shares of WestRock (NYSE:WRK) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 5,113 shares of the basic materials company’s stock, valued at approximately $212,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NBC Securities Inc. bought a new stake in WestRock in the 3rd quarter worth approximately $27,000. International Assets Investment Management LLC increased its stake in WestRock by 268.7% in the 4th quarter. International Assets Investment Management LLC now owns 789 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 575 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in WestRock by 59.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 320 shares during the last quarter. Clear Street Markets LLC increased its stake in WestRock by 198.5% in the 3rd quarter. Clear Street Markets LLC now owns 1,000 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 665 shares during the last quarter. Finally, GAMMA Investing LLC bought a new stake in WestRock in the 4th quarter worth approximately $55,000. Institutional investors own 83.38% of the company’s stock.

Insiders Place Their Bets

In other WestRock news, insider Vicki L. Lostetter sold 3,500 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $42.77, for a total value of $149,695.00. Following the completion of the sale, the insider now directly owns 92,117 shares in the company, valued at approximately $3,939,844.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.49% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on WRK. Seaport Res Ptn downgraded WestRock from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $42.00 price objective on shares of WestRock in a research note on Friday, February 2nd. Wells Fargo & Company reiterated an “equal weight” rating and issued a $45.00 target price (up previously from $42.00) on shares of WestRock in a report on Thursday, January 11th. Truist Financial lifted their target price on WestRock from $40.00 to $48.00 and gave the stock a “hold” rating in a report on Thursday, January 4th. Finally, StockNews.com initiated coverage on WestRock in a report on Wednesday. They issued a “hold” rating for the company. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $43.00.

WestRock Trading Up 0.9 %

WRK traded up $0.44 during trading hours on Friday, reaching $47.25. 1,823,495 shares of the company’s stock traded hands, compared to its average volume of 1,868,743. The firm has a 50-day moving average price of $47.18 and a 200 day moving average price of $42.30. WestRock has a 52-week low of $26.85 and a 52-week high of $49.67. The company has a quick ratio of 0.95, a current ratio of 1.55 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $12.20 billion, a PE ratio of -7.03, a PEG ratio of 4.37 and a beta of 1.10.

WestRock (NYSE:WRK) last posted its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.15). WestRock had a negative net margin of 8.58% and a positive return on equity of 6.87%. The business had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.79 billion. During the same quarter in the previous year, the firm earned $0.55 EPS. WestRock’s revenue was down 6.2% compared to the same quarter last year. As a group, sell-side analysts predict that WestRock will post 1.93 EPS for the current fiscal year.

WestRock 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 through 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.