Credit Suisse AG increased its position in shares of WestRock Co (NYSE:WRK) by 1.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 387,909 shares of the basic materials company’s stock after acquiring an additional 6,617 shares during the period. Credit Suisse AG owned about 0.15% of WestRock worth $20,730,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. CIBC World Markets Inc. lifted its holdings in WestRock by 9.4% during the 2nd quarter. CIBC World Markets Inc. now owns 10,969 shares of the basic materials company’s stock worth $625,000 after buying an additional 940 shares during the period. Clear Harbor Asset Management LLC lifted its holdings in WestRock by 1.9% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 52,032 shares of the basic materials company’s stock worth $2,967,000 after buying an additional 990 shares during the period. Greenleaf Trust lifted its holdings in WestRock by 24.9% during the 2nd quarter. Greenleaf Trust now owns 5,309 shares of the basic materials company’s stock worth $303,000 after buying an additional 1,059 shares during the period. Commerce Bank lifted its holdings in WestRock by 31.6% during the 3rd quarter. Commerce Bank now owns 4,810 shares of the basic materials company’s stock worth $258,000 after buying an additional 1,156 shares during the period. Finally, Canal Capital Management LLC lifted its holdings in WestRock by 1.1% during the 3rd quarter. Canal Capital Management LLC now owns 111,068 shares of the basic materials company’s stock worth $5,935,000 after buying an additional 1,181 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.
Several research analysts have commented on WRK shares. Wells Fargo & Co cut their target price on WestRock from $63.00 to $53.00 and set a “market perform” rating on the stock in a report on Tuesday, October 9th. Bank of America started coverage on WestRock in a report on Tuesday, October 23rd. They set a “buy” rating on the stock. Zacks Investment Research downgraded WestRock from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. Goldman Sachs Group downgraded WestRock from a “conviction-buy” rating to a “buy” rating and set a $64.00 target price on the stock. in a report on Wednesday, October 10th. Finally, BMO Capital Markets downgraded WestRock from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $80.00 to $54.00 in a report on Tuesday, October 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $64.50.
Shares of NYSE:WRK opened at $47.11 on Monday. The stock has a market capitalization of $12.02 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 1.66 and a beta of 1.58. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.89 and a current ratio of 1.44. WestRock Co has a 1 year low of $39.21 and a 1 year high of $71.55.
WestRock (NYSE:WRK) last announced its quarterly earnings data on Monday, November 5th. The basic materials company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.05. The company had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.28 billion. WestRock had a return on equity of 9.26% and a net margin of 11.70%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.87 EPS. On average, equities research analysts forecast that WestRock Co will post 4.58 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 19th. Stockholders of record on Friday, November 9th were paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.86%. This is an increase from WestRock’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Thursday, November 8th. WestRock’s payout ratio is currently 44.50%.
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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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