WestRock Co (WRK) Short Interest Update

WestRock Co (NYSE:WRK) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 3,593,475 shares, an increase of 59.4% from the November 30th total of 2,253,762 shares. Based on an average trading volume of 2,030,861 shares, the short-interest ratio is presently 1.8 days. Currently, 1.4% of the shares of the stock are sold short.

WRK has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of WestRock from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Deutsche Bank set a $70.00 price target on shares of WestRock and gave the stock a “buy” rating in a research report on Thursday, December 14th. Barclays upped their price target on shares of WestRock from $58.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Monday, November 6th. Stephens initiated coverage on shares of WestRock in a research report on Tuesday, October 24th. They set an “equal weight” rating and a $61.00 price target for the company. Finally, BMO Capital Markets upped their price target on shares of WestRock to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 12th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. WestRock presently has an average rating of “Buy” and a consensus target price of $66.09.

Shares of WestRock (NYSE:WRK) opened at $65.40 on Thursday. The company has a market cap of $16,660.00 and a PE ratio of 23.61. The company has a quick ratio of 0.89, a current ratio of 1.49 and a debt-to-equity ratio of 0.57. WestRock has a 1-year low of $49.23 and a 1-year high of $66.00.

WestRock (NYSE:WRK) last released its quarterly earnings data on Thursday, November 2nd. The basic materials company reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.06. The company had revenue of $4.06 billion during 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%. WestRock’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 EPS. equities research analysts expect that WestRock will post 3.72 earnings per share for the current year.

In related news, Director John A. Luke, Jr. sold 10,343 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $58.83, for a total transaction of $608,478.69. Following the completion of the transaction, the director now owns 497,557 shares in the company, valued at approximately $29,271,278.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Robert A. Feeser sold 29,972 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was 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 quarter, insiders sold 161,788 shares of company stock valued at $9,785,543. Insiders own 2.20% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Mckinley Capital Management LLC Delaware purchased a new stake in shares of WestRock in the 2nd quarter valued at approximately $100,000. Sun Life Financial INC grew its stake in shares of WestRock by 26,114.3% in the 2nd quarter. Sun Life Financial INC now owns 1,835 shares of the basic materials company’s stock valued at $104,000 after buying an additional 1,828 shares during the period. Invictus RG purchased a new stake in shares of WestRock in the 3rd quarter valued at approximately $108,000. Old Mutual Global Investors UK Ltd. purchased a new stake in shares of WestRock in the 3rd quarter valued at approximately $130,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of WestRock by 25.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,548 shares of the basic materials company’s stock valued at $144,000 after buying an additional 509 shares during the period. Institutional investors own 87.70% of the company’s stock.

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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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