Prudential Financial Inc. Has $26,625,000 Position in WestRock Co. (WRK)
Prudential Financial Inc. raised its position in shares of WestRock Co. (NYSE:WRK) by 103.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 684,993 shares of the company’s stock after buying an additional 348,164 shares during the period. Prudential Financial Inc. owned about 0.27% of WestRock worth $26,625,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of WRK. Nomura Asset Management Co. Ltd. increased its stake in WestRock by 3.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 31,974 shares of the company’s stock worth $1,459,000 after buying an additional 1,080 shares during the period. Norges Bank purchased a new stake in WestRock during the fourth quarter worth approximately $115,688,000. Chevy Chase Trust Holdings Inc. increased its stake in WestRock by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 214,226 shares of the company’s stock worth $8,362,000 after buying an additional 6,474 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in WestRock by 11.9% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 59,542 shares of the company’s stock worth $2,324,000 after buying an additional 6,309 shares during the last quarter. Finally, Exxonmobil Investment Management Inc. TX increased its stake in WestRock by 7.2% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 61,806 shares of the company’s stock worth $2,412,000 after buying an additional 4,176 shares during the last quarter. Hedge funds and other institutional investors own 90.32% of the company’s stock.
WestRock Co. (NYSE:WRK) traded up 0.27% during trading on Friday, reaching $48.49. The company had a trading volume of 286,611 shares. The stock’s market cap is $12.06 billion. The company has a 50-day moving average price of $46.39 and a 200 day moving average price of $41.26. WestRock Co. has a 52-week low of $29.73 and a 52-week high of $57.85.
WestRock (NYSE:WRK) last posted its earnings results on Thursday, August 4th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.66 by $0.05. WestRock had a positive return on equity of 6.71% and a negative net margin of 1.27%. The firm had revenue of $3.60 million for the quarter, compared to analysts’ expectations of $3.70 billion. During the same period last year, the firm earned $1.15 EPS. The firm’s revenue was down 2.8% compared to the same quarter last year. On average, analysts anticipate that WestRock Co. will post $3.96 earnings per share for the current year.
A number of research firms have commented on WRK. Credit Agricole SA boosted their target price on WestRock from $46.00 to $54.00 and gave the stock an “underperform” rating in a research report on Tuesday, September 6th. Citigroup Inc. boosted their target price on WestRock from $52.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, August 31st. Deutsche Bank AG boosted their target price on WestRock from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday. Goldman Sachs Group Inc. began coverage on WestRock in a research report on Thursday. They set a “neutral” rating and a $53.00 target price on the stock. Finally, Jefferies Group reiterated a “buy” rating on shares of WestRock in a research report on Monday, August 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $53.04.
In other WestRock news, Director John A. Luke, Jr. sold 188,103 shares of the stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $46.62, for a total transaction of $8,769,361.86. Following the completion of the transaction, the director now directly owns 837,343 shares of the company’s stock, valued at approximately $39,036,930.66. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.41% of the company’s stock.
WestRock Company Profile
Westrock Company is a provider of packaging solutions and manufactures containerboard and paperboard. The Company’s operating segments include Corrugated Packaging, Consumer Packaging, Specialty Chemicals, and Land and Development. The Company operates in North America, South America, Europe and Asia.
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