California Public Employees Retirement System Has $20.63 Million Stake in WestRock (NYSE:WRK)

California Public Employees Retirement System lowered its stake in shares of WestRock (NYSE:WRK) by 2.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 496,807 shares of the basic materials company’s stock after selling 12,209 shares during the period. California Public Employees Retirement System owned approximately 0.19% of WestRock worth $20,627,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. NBC Securities Inc. bought a new position in shares of WestRock during the 3rd quarter worth approximately $27,000. International Assets Investment Management LLC lifted its position in shares of WestRock by 268.7% during the 4th quarter. International Assets Investment Management LLC now owns 789 shares of the basic materials company’s stock worth $33,000 after buying an additional 575 shares in the last quarter. Clear Street Markets LLC lifted its position in shares of WestRock by 198.5% during the 3rd quarter. Clear Street Markets LLC now owns 1,000 shares of the basic materials company’s stock worth $36,000 after buying an additional 665 shares in the last quarter. CVA Family Office LLC bought a new position in shares of WestRock during the 4th quarter worth approximately $60,000. Finally, Baystate Wealth Management LLC lifted its position in shares of WestRock by 42.3% during the 4th quarter. Baystate Wealth Management LLC now owns 1,700 shares of the basic materials company’s stock worth $71,000 after buying an additional 505 shares in the last quarter. Institutional investors own 83.38% of the company’s stock.

Wall Street Analysts Forecast Growth

WRK has been the topic of several recent analyst reports. StockNews.com initiated coverage on shares of WestRock in a research report on Wednesday, April 24th. They set a “hold” rating on the stock. Seaport Res Ptn cut shares of WestRock from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $42.00 price target on shares of WestRock in a report on Friday, February 2nd. Truist Financial lifted their price target on shares of WestRock from $40.00 to $48.00 and gave the stock a “hold” rating in a report on Thursday, January 4th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $45.00 price target (up previously from $42.00) on shares of WestRock in a report on Thursday, January 11th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $43.00.

WestRock Stock Performance

Shares of WRK stock opened at $47.25 on Monday. The company’s fifty day simple moving average is $47.18 and its two-hundred day simple moving average is $42.38. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.55 and a quick ratio of 0.95. WestRock has a 1 year low of $26.85 and a 1 year high of $49.67.

WestRock (NYSE:WRK) last issued its earnings results on Thursday, February 1st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.15). WestRock had a negative net margin of 8.58% and a positive return on equity of 6.87%. The business had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.79 billion. During the same period in the previous year, the firm earned $0.55 EPS. The company’s revenue was down 6.2% compared to the same quarter last year. As a group, equities research analysts anticipate that WestRock will post 1.93 earnings per share for the current year.

Insider Buying and Selling at WestRock

In other WestRock news, insider Vicki L. Lostetter sold 3,500 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $42.77, for a total transaction of $149,695.00. Following the sale, the insider now owns 92,117 shares of the company’s stock, valued at approximately $3,939,844.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.49% of the company’s stock.

About WestRock

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.