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 Westrock stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $60.74, for a total transaction of $628,233.82. Following the completion of the sale, the director now owns 497,557 shares in the company, valued at $30,221,612.18. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Westrock Company (WRK) traded up 0.9834% on Tuesday, hitting $61.3575. 1,258,511 shares of the stock traded hands. Westrock Company has a 52 week low of $43.79 and a 52 week high of $61.50. The firm has a market capitalization of $15.39 billion, a PE ratio of 37.2315 and a beta of 1.36. The stock has a 50 day moving average of $57.86 and a 200 day moving average of $56.17.
Westrock (NYSE:WRK) last announced its earnings results on Thursday, August 3rd. The basic materials company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.10. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.66 billion. Westrock had a net margin of 2.92% and a return on equity of 6.38%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.71 earnings per share. Equities research analysts anticipate that Westrock Company will post $2.56 earnings per share for the current year.
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WRK has been the topic of several recent research reports. Deutsche Bank AG reiterated a “buy” rating and issued a $65.00 price target (up from $61.00) on shares of Westrock in a research note on Monday, October 9th. BidaskClub lowered shares of Westrock from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Jefferies Group LLC reiterated a “buy” rating and issued a $69.00 price target on shares of Westrock in a research note on Friday, August 4th. Goldman Sachs Group, Inc. (The) upgraded shares of Westrock from a “buy” rating to a “conviction-buy” rating in a research note on Thursday, July 13th. Finally, KeyCorp reiterated a “hold” rating on shares of Westrock in a research note on Thursday, June 29th. Four analysts have rated the stock with a hold rating, nine have given 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 $64.00.
Several hedge funds have recently made changes to their positions in WRK. Mckinley Capital Management LLC Delaware purchased a new stake in shares of Westrock in the second quarter valued at about $100,000. FNY Partners Fund LP raised its holdings in shares of Westrock by 700.0% in the first quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock valued at $104,000 after purchasing an additional 1,750 shares during the last quarter. Sun Life Financial INC raised its holdings in shares of Westrock by 26,114.3% in the second quarter. Sun Life Financial INC now owns 1,835 shares of the basic materials company’s stock valued at $104,000 after purchasing an additional 1,828 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Westrock by 25.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,548 shares of the basic materials company’s stock valued at $144,000 after purchasing an additional 509 shares during the last quarter. Finally, Global X Management Co. LLC raised its holdings in shares of Westrock by 36.9% in the first quarter. Global X Management Co. LLC now owns 3,217 shares of the basic materials company’s stock valued at $167,000 after purchasing an additional 867 shares during the last quarter. Institutional investors own 88.73% of the company’s stock.
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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