Kiwi Wealth Investments Limited Partnership raised its holdings in WestRock Co (NYSE:WRK) by 8.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 59,538 shares of the basic materials company’s stock after acquiring an additional 4,741 shares during the period. Kiwi Wealth Investments Limited Partnership’s holdings in WestRock were worth $3,395,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in WestRock in the first quarter valued at approximately $121,000. C M Bidwell & Associates Ltd. acquired a new position in shares of WestRock in the first quarter valued at approximately $145,000. Synovus Financial Corp acquired a new position in shares of WestRock in the first quarter valued at approximately $147,000. Mount Yale Investment Advisors LLC acquired a new position in shares of WestRock in the first quarter valued at approximately $160,000. Finally, Focused Wealth Management Inc acquired a new position in shares of WestRock in the first quarter valued at approximately $176,000. 85.21% of the stock is owned by hedge funds and other institutional investors.
WRK has been the topic of several research reports. Citigroup decreased their target price on WestRock from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, July 10th. Barclays decreased their target price on WestRock from $64.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 9th. ValuEngine raised WestRock from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Finally, Stephens set a $63.00 price target on WestRock and gave the stock a “weight” rating in a research report on Thursday, July 5th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $74.67.
Shares of WRK stock traded up $0.31 during trading hours on Friday, reaching $55.82. The company’s stock had a trading volume of 1,699,685 shares, compared to its average volume of 1,448,298. The company has a market cap of $14.05 billion, a PE ratio of 21.31, a P/E/G ratio of 1.02 and a beta of 1.33. WestRock Co has a fifty-two week low of $52.78 and a fifty-two week high of $71.55. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.95 and a current ratio of 1.56.
WestRock (NYSE:WRK) last issued its earnings results on Thursday, August 2nd. The basic materials company reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.03. The firm had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $4.16 billion. WestRock had a return on equity of 8.49% and a net margin of 11.31%. The company’s revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. equities analysts predict that WestRock Co will post 4.06 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 20th. Shareholders of record on Friday, August 10th were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Thursday, August 9th. WestRock’s dividend payout ratio is presently 65.65%.
WestRock Company Profile
WestRock Company manufactures and sells paper and packaging solutions for the consumer and corrugated markets in North America, South America, Europe, Australia, and Asia. The company operates through three segments: Corrugated Packaging, Consumer Packaging, and Land and Development. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards for consumer and industrial products manufacturers, and corrugated box manufacturers.
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