Short Interest in WestRock (NYSE:WRK) Drops By 20.3%

WestRock (NYSE:WRKGet Free Report) was the recipient of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 6,290,000 shares, a decrease of 20.3% from the January 15th total of 7,890,000 shares. Based on an average daily trading volume, of 2,590,000 shares, the short-interest ratio is presently 2.4 days. Currently, 2.5% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Argus raised shares of WestRock from a “hold” rating to a “buy” rating in a report on Friday, November 17th. StockNews.com began coverage on shares of WestRock in a report on Monday. They set a “hold” rating on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $42.00 price objective on shares of WestRock in a report on Friday, February 2nd. Seaport Res Ptn downgraded shares of WestRock from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $45.00 price objective (up from $42.00) on shares of WestRock in a report on Thursday, January 11th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $39.43.

View Our Latest Stock Analysis on WRK

Institutional Investors Weigh In On WestRock

Several hedge funds and other institutional investors have recently bought and sold shares of WRK. Norges Bank acquired a new stake in WestRock during the fourth quarter worth about $194,739,000. Price T Rowe Associates Inc. MD increased its position in WestRock by 59.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,318,827 shares of the basic materials company’s stock worth $283,947,000 after purchasing an additional 3,459,641 shares during the last quarter. BlackRock Inc. increased its position in shares of WestRock by 9.6% during the first quarter. BlackRock Inc. now owns 26,528,567 shares of the basic materials company’s stock valued at $808,325,000 after acquiring an additional 2,320,073 shares during the last quarter. Pentwater Capital Management LP acquired a new stake in shares of WestRock during the third quarter valued at about $61,378,000. Finally, Segantii Capital Management Ltd acquired a new stake in shares of WestRock during the third quarter valued at about $59,428,000. 85.51% of the stock is currently owned by institutional investors and hedge funds.

WestRock Price Performance

Shares of NYSE WRK opened at $42.66 on Tuesday. The firm has a 50-day simple moving average of $41.42 and a 200-day simple moving average of $37.57. The stock has a market capitalization of $10.96 billion, a price-to-earnings ratio of -6.35, a price-to-earnings-growth ratio of 3.48 and a beta of 1.06. The company has a quick ratio of 0.95, a current ratio of 1.55 and a debt-to-equity ratio of 0.81. WestRock has a 52 week low of $26.84 and a 52 week high of $43.58.

WestRock (NYSE:WRKGet Free Report) last issued its earnings results on Thursday, February 1st. The basic materials company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.15). The business had revenue of $4.62 billion during the quarter, compared to analyst estimates of $4.79 billion. WestRock had a negative net margin of 8.58% and a positive return on equity of 6.87%. WestRock’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter last year, the company earned $0.55 earnings per share. On average, equities analysts predict that WestRock will post 1.95 earnings per share for the current fiscal year.

WestRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 21st. Investors of record on Friday, February 9th will be given a dividend of $0.3025 per share. This represents a $1.21 annualized dividend and a yield of 2.84%. The ex-dividend date is Thursday, February 8th. WestRock’s payout ratio is currently -18.01%.

About WestRock

(Get Free Report)

WestRock Company, together with its subsidiaries, provides fiber-based paper and packaging solutions in North America, South America, Europe, Asia, and Australia. It operates through four segments: Corrugated Packaging, Consumer Packaging, Global Paper, and Distribution. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards to consumer and industrial products manufacturers, and corrugated box manufacturers.

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