Evercore Wealth Management LLC Has $315,000 Stake in WestRock (NYSE:WRK)

Evercore Wealth Management LLC decreased its stake in WestRock (NYSE:WRKFree Report) by 29.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,580 shares of the basic materials company’s stock after selling 3,195 shares during the period. Evercore Wealth Management LLC’s holdings in WestRock were worth $315,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of WRK. Norges Bank bought a new position in WestRock in the 4th quarter valued at $198,063,000. Pentwater Capital Management LP bought a new position in WestRock in the 3rd quarter valued at $61,378,000. KRYGER CAPITAL Ltd bought a new position in WestRock in the 4th quarter valued at $55,228,000. FMR LLC raised its position in WestRock by 140.3% in the 3rd quarter. FMR LLC now owns 2,173,923 shares of the basic materials company’s stock valued at $77,826,000 after purchasing an additional 1,269,375 shares during the last quarter. Finally, Segantii Capital Management Ltd raised its position in WestRock by 75.2% in the 4th quarter. Segantii Capital Management Ltd now owns 2,907,561 shares of the basic materials company’s stock valued at $120,722,000 after purchasing an additional 1,247,561 shares during the last quarter. Institutional investors and hedge funds own 83.38% of the company’s stock.

WestRock Trading Down 2.6 %

NYSE WRK opened at $50.50 on Tuesday. The stock has a 50-day simple moving average of $50.63 and a 200 day simple moving average of $45.75. The company has a market capitalization of $12.98 billion, a PE ratio of 42.44, a P/E/G ratio of 3.29 and a beta of 1.08. The company has a current ratio of 1.34, a quick ratio of 0.85 and a debt-to-equity ratio of 0.77. WestRock has a 12 month low of $27.12 and a 12 month high of $54.83.

WestRock (NYSE:WRKGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.14. WestRock had a return on equity of 5.85% and a net margin of 1.57%. The business had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.75 billion. During the same quarter in the prior year, the company posted $0.77 earnings per share. The firm’s revenue was down 10.4% on a year-over-year basis. Research analysts forecast that WestRock will post 2.11 EPS for the current year.

WestRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Tuesday, May 14th were paid a $0.3025 dividend. The ex-dividend date was Monday, May 13th. This represents a $1.21 dividend on an annualized basis and a yield of 2.40%. WestRock’s payout ratio is 101.68%.

Analysts Set New Price Targets

WRK has been the subject of several research analyst reports. StockNews.com initiated coverage on WestRock in a research report on Saturday, May 18th. They issued a “hold” rating for the company. Truist Financial boosted their target price on WestRock from $51.00 to $57.00 and gave the stock a “hold” rating in a research report on Thursday, May 30th. Argus boosted their target price on WestRock from $50.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Finally, Wells Fargo & Company boosted their target price on WestRock from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, WestRock has an average rating of “Hold” and a consensus target price of $48.80.

View Our Latest Report on WestRock

Insider Transactions at WestRock

In other news, insider John L. O’neal sold 6,965 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $51.47, for a total transaction of $358,488.55. Following the completion of the transaction, the insider now directly owns 60,491 shares of the company’s stock, valued at $3,113,471.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Denise R. Singleton sold 9,700 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $51.46, for a total transaction of $499,162.00. Following the sale, the executive vice president now owns 74,946 shares in the company, valued at $3,856,721.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John L. O’neal sold 6,965 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $51.47, for a total value of $358,488.55. Following the completion of the sale, the insider now owns 60,491 shares in the company, valued at approximately $3,113,471.77. The disclosure for this sale can be found here. 0.49% of the stock is owned by insiders.

About WestRock

(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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Institutional Ownership by Quarter for WestRock (NYSE:WRK)

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