TD Asset Management Inc. Has $5.36 Million Stock Position in WestRock (NYSE:WRK)

TD Asset Management Inc. reduced its stake in shares of WestRock (NYSE:WRK) by 22.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 107,527 shares of the basic materials company’s stock after selling 31,476 shares during the quarter. TD Asset Management Inc.’s holdings in WestRock were worth $5,358,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WRK. Amundi Pioneer Asset Management Inc. grew its holdings in shares of WestRock by 40.9% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 311,236 shares of the basic materials company’s stock worth $11,936,000 after purchasing an additional 90,397 shares in the last quarter. Sei Investments Co. grew its holdings in shares of WestRock by 18.9% during the 2nd quarter. Sei Investments Co. now owns 47,071 shares of the basic materials company’s stock worth $2,546,000 after purchasing an additional 7,498 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of WestRock by 13.6% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 48,768 shares of the basic materials company’s stock worth $2,595,000 after purchasing an additional 5,836 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of WestRock by 2.3% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 394,529 shares of the basic materials company’s stock worth $20,997,000 after purchasing an additional 8,760 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of WestRock by 467.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 472,625 shares of the basic materials company’s stock worth $25,153,000 after purchasing an additional 389,314 shares in the last quarter. 84.14% of the stock is currently owned by institutional investors.

In other news, Director James E. Nevels sold 3,050 shares of the firm’s stock in a transaction dated Tuesday, November 16th. The stock was sold at an average price of $49.45, for a total transaction of $150,822.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by company insiders.

WestRock stock opened at $46.91 on Friday. The company has a current ratio of 1.55, a quick ratio of 0.96 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $12.43 billion, a PE ratio of 15.04, a P/E/G ratio of 0.53 and a beta of 1.18. WestRock has a 12 month low of $40.04 and a 12 month high of $62.03. The stock has a 50-day moving average price of $45.69 and a two-hundred day moving average price of $48.66.

WestRock (NYSE:WRK) last posted its earnings results on Tuesday, November 9th. The basic materials company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.14 by $0.09. The firm had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5 billion. WestRock had a return on equity of 8.03% and a net margin of 4.47%. The business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the company earned $0.73 earnings per share. As a group, analysts predict that WestRock will post 4.68 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 23rd. Stockholders of record on Wednesday, November 10th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.13%. This is an increase from WestRock’s previous quarterly dividend of $0.24. The ex-dividend date was Tuesday, November 9th. WestRock’s dividend payout ratio (DPR) is 32.05%.

Several analysts recently weighed in on the company. Jefferies Financial Group lowered WestRock from a “buy” rating to a “hold” rating and reduced their price objective for the company from $84.00 to $54.00 in a research note on Monday, November 1st. Truist assumed coverage on WestRock in a research note on Wednesday, October 13th. They issued a “hold” rating and a $47.00 price objective on the stock. TheStreet raised WestRock from a “c+” rating to a “b” rating in a research note on Tuesday, November 9th. BMO Capital Markets reaffirmed a “buy” rating on shares of WestRock in a research note on Friday, November 12th. Finally, Wells Fargo & Company reaffirmed a “buy” rating on shares of WestRock in a research note on Tuesday, November 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $55.00.

WestRock Company Profile

WestRock Co engages in the provision of paper and packaging solutions. It operates through the following segments: Corrugated Packaging and Consumer Packaging. The Corrugated Packaging segment consists of its containerboard mill and corrugated packaging operations, as well as recycling operations. The Consumer Packaging segment includes consumer mills, folding carton, beverage, merchandising displays, and partition operations.

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Institutional Ownership by Quarter for WestRock (NYSE:WRK)

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