Stocks of WestRock Company (NYSE:WRK) traded higher last session on Wall Street, up 0.69% to $32.28.
According to the data, WestRock Company (NYSE:WRK) has 13 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $45.00 and a low of $27.00, we find $33.00. Given the previous closing price of $32.06, this indicates a potential upside of 2.93 percent. WRK stock price is now 11.82% away from the 50-day moving average and 0.58% away from the 200-day moving average. The market capitalization of the company currently stands at $8.27B.
A total of 6 analysts have issued a hold rating and 6 have given it a buy rating. Brokers who have rated the stock have averaged $33.95 as their price target over the next twelve months.
With the price target enhanced from $38 to $40, BofA Securities Upgraded its rating from Neutral to Buy for WestRock Company (NYSE: WRK).
In other news, Kivits Patrick M., President, Corrugated Pkg sold 4,000 shares of the company’s stock on Mar 15. The stock was sold for $109,520 at an average price of $27.38. Upon completion of the transaction, the President, Corrugated Pkg now directly owns 42,132 shares in the company, valued at $1.36 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 12, Director RUSSELL CURREY M sold 55,000 shares of the business’s stock. A total of $2,007,830 was realized by selling the stock at an average price of $36.51. This leaves the insider owning 245,271 shares of the company worth $7.92 million. Insiders disposed of 143,426 shares of company stock worth roughly $4.63 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in WRK stock. A new stake in WestRock Company shares was purchased by TUDOR INVESTMENT CORP ET AL during the first quarter worth $13,820,000. CINCTIVE CAPITAL MANAGEMENT LP invested $13,393,000 in shares of WRK during the first quarter. In the first quarter, NFJ INVESTMENT GROUP, LLC acquired a new stake in WestRock Company valued at approximately $10,756,000. AMF TJANSTEPENSION AB acquired a new stake in WRK for approximately $7,879,000. CARLSON CAPITAL L P purchased a new stake in WRK valued at around $4,555,000 in the second quarter. In total, there are 883 active investors with 90.60% ownership of the company’s stock.
Wednesday’s opening bell rang with an opening price of $31.94 for WestRock Company (NYSE: WRK). During the past 12 months, WestRock Company has had a low of $26.84 and a high of $43.37. As of last week, the company has a debt-to-equity ratio of 0.99, a current ratio of 1.50, and a quick ratio of 1.00. The fifty day moving average price for WRK is $28.96 and a two-hundred day moving average price translates $32.10 for the stock.
The latest earnings results from WestRock Company (NYSE: WRK) was released for Mar, 2023. According to the Packaging & Containers Company, earnings per share came in at $0.77, beating analysts’ expectations of $0.49 by 0.28. This compares to $0.15 EPS in the same period last year. The net profit margin was -5.90% and return on equity was -11.20% for WRK. The company reported revenue of $5.28 billion for the quarter, compared to $5.38 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -1.94 percent. For the current quarter, analysts expect WRK to generate $5.18B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 05/25/2023. Investors who held shares on 05/11/2023 were paid a $0.275 dividend. On an annualized basis, this represents a $1.10 dividend and a 3.41% percent yield. There was an ex-dividend date of 05/10/2023 for this dividend. In terms of dividend payout ratio, WRK is presently at 27.85%.
WestRock Company(WRK) Company Profile
WestRock Company, together with its subsidiaries, provides fiber-based paper and packaging solutions in North America, South America, Europe, Asia, and Australia. It operates in 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. It also provides structural and graphic design, engineering services and custom, and proprietary and standard automated packaging machines, as well as turn-key installation, automation, line integration, and packaging solutions; and pack temporary displays, as well as lithographic laminated packaging products. The Consumer Packaging segment manufactures and sells folding cartons that are used to package food, paper, beverages, dairy products, tobacco, confectionery, health and beauty, other household consumer products; and express mail packages for the overnight courier industry. It also offers inserts and labels, as well as rigid packaging and other printed packaging products, such as transaction cards, brochures, product literature, marketing materials, and grower tags, and plant stakes; and secondary packages and paperboard packaging for over-the-counter and prescription drugs. In addition, this segment manufactures and sells solid fiber and corrugated partitions, and die-cut paperboard components. The Global Paper segment manufactures containerboard, paperboard, and specialty grades primarily to corrugated packaging, folding carton, food service, liquid packaging, tobacco, and commercial print markets. The Distribution segment distributes corrugated packaging materials and other specialty packaging products, including stretch films, void fills, carton sealing tapes, and other specialty tapes; and provides contract packing services. The company was incorporated in 2018 and is based in Atlanta, Georgia.
