Wells Fargo & Company Boosts WestRock (NYSE:WRK) Price Target to $51.00

WestRock (NYSE:WRK) had its price objective upped by Wells Fargo & Company from $46.00 to $51.00 in a research report released on Friday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the basic materials company’s stock.

A number of other equities research analysts have also commented on the company. StockNews.com began coverage on WestRock in a research report on Thursday. They set a hold rating on the stock. Seaport Res Ptn downgraded shares of WestRock from a buy rating to a neutral rating in a report on Monday, January 29th. Royal Bank of Canada reiterated a sector perform rating and issued a $42.00 price target on shares of WestRock in a report on Friday, February 2nd. Finally, Truist Financial raised their price objective on shares of WestRock from $40.00 to $48.00 and gave the stock a hold rating in a report on Thursday, January 4th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $44.50.

WestRock Trading Up 0.1 %

WRK opened at $51.16 on Friday. The firm’s fifty day moving average is $47.73 and its two-hundred day moving average is $42.81. The firm has a market cap of $13.21 billion, a PE ratio of 42.99, a price-to-earnings-growth ratio of 4.77 and a beta of 1.10. WestRock has a twelve month low of $26.85 and a twelve month high of $51.79. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.95 and a current ratio of 1.34.

WestRock (NYSE:WRK) 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. The business had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.75 billion. WestRock had a net margin of 1.57% and a return on equity of 5.85%. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. Equities research analysts anticipate that WestRock will post 1.93 EPS for the current year.

WestRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 14th will be issued a $0.3025 dividend. The ex-dividend date of this dividend is Monday, May 13th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.37%. WestRock’s dividend payout ratio (DPR) is presently 101.68%.

Insider Transactions at WestRock

In related news, insider Vicki L. Lostetter sold 3,500 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $42.77, for a total value of $149,695.00. Following the completion of the transaction, the insider now owns 92,117 shares of the company’s stock, valued at $3,939,844.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.49% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. NBC Securities Inc. acquired a new stake in shares of WestRock in the 3rd quarter valued at approximately $27,000. International Assets Investment Management LLC raised its position in WestRock by 268.7% during the fourth quarter. International Assets Investment Management LLC now owns 789 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 575 shares in the last quarter. OLD Point Trust & Financial Services N A bought a new position in shares of WestRock in the 4th quarter valued at about $35,000. Parkside Financial Bank & Trust increased its stake in shares of WestRock by 59.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 320 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. raised its holdings in shares of WestRock by 82.0% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 910 shares of the basic materials company’s stock valued at $45,000 after purchasing an additional 410 shares during the period. 83.38% of the stock is owned by institutional investors and hedge funds.

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.