Charles Schwab Investment Management Inc. Acquires 78,818 Shares of WestRock (NYSE:WRK)

Charles Schwab Investment Management Inc. grew its stake in shares of WestRock (NYSE:WRKFree Report) by 3.2% during the third quarter, Holdings Channel reports. The institutional investor owned 2,552,490 shares of the basic materials company’s stock after buying an additional 78,818 shares during the period. Charles Schwab Investment Management Inc.’s holdings in WestRock were worth $91,379,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of WestRock by 0.8% in the first quarter. Vanguard Group Inc. now owns 30,619,872 shares of the basic materials company’s stock worth $1,440,053,000 after acquiring an additional 252,490 shares during the period. BlackRock Inc. grew its holdings in WestRock by 9.6% during the 1st quarter. BlackRock Inc. now owns 26,528,567 shares of the basic materials company’s stock valued at $808,325,000 after buying an additional 2,320,073 shares in the last quarter. State Street Corp raised its position in shares of WestRock by 14.7% during the second quarter. State Street Corp now owns 11,986,307 shares of the basic materials company’s stock valued at $348,442,000 after buying an additional 1,538,825 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of WestRock by 59.0% in 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 buying an additional 3,459,641 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of WestRock by 5.2% during the second quarter. Geode Capital Management LLC now owns 5,611,685 shares of the basic materials company’s stock worth $162,721,000 after acquiring an additional 279,006 shares during the last quarter. 85.51% of the stock is currently owned by institutional investors.

WestRock Stock Down 0.7 %

Shares of NYSE:WRK opened at $42.50 on Monday. The company has a current ratio of 1.55, a quick ratio of 0.95 and a debt-to-equity ratio of 0.81. WestRock has a 12 month low of $26.84 and a 12 month high of $43.58. The firm’s 50-day moving average is $41.40 and its 200 day moving average is $37.50.

WestRock (NYSE:WRKGet Free Report) last issued its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.15). WestRock had a positive return on equity of 6.87% and a negative net margin of 8.58%. The business had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.79 billion. During the same quarter in the previous year, the company posted $0.55 earnings per share. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. As a group, sell-side analysts expect that WestRock will post 1.95 earnings per share for the current fiscal year.

WestRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 21st. Investors of record on Friday, February 9th will be paid a $0.3025 dividend. This represents a $1.21 annualized dividend and a yield of 2.85%. The ex-dividend date is Thursday, February 8th. WestRock’s dividend payout ratio is presently -18.01%.

Wall Street Analysts Forecast Growth

WRK has been the topic of several research analyst reports. StockNews.com assumed coverage on shares of WestRock in a research note on Monday. They issued a “hold” rating on the stock. Seaport Res Ptn lowered WestRock from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $42.00 price objective on shares of WestRock in a research note on Friday, February 2nd. Wells Fargo & Company reiterated an “equal weight” rating and set a $45.00 target price (up from $42.00) on shares of WestRock in a research report on Thursday, January 11th. Finally, Truist Financial upped their price target on shares of WestRock from $40.00 to $48.00 and gave the company a “hold” rating in a research note on Thursday, January 4th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $39.43.

Check Out Our Latest Stock Analysis on WestRock

WestRock Profile

(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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