Vanguard Group Inc. Buys 550,983 Shares of WestRock Co. (WRK)
Vanguard Group Inc. increased its stake in shares of WestRock Co. (NYSE:WRK) by 2.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 23,318,587 shares of the company’s stock after buying an additional 550,983 shares during the period. Vanguard Group Inc. owned 9.10% of WestRock worth $906,393,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Legal & General Group Plc boosted its stake in WestRock by 1.6% in the first quarter. Legal & General Group Plc now owns 1,112,234 shares of the company’s stock valued at $43,406,000 after buying an additional 17,865 shares in the last quarter. Atalanta Sosnoff Capital LLC bought a new stake in WestRock during the second quarter valued at approximately $14,055,000. Norges Bank bought a new stake in WestRock during the fourth quarter valued at approximately $115,688,000. Nomura Asset Management Co. Ltd. boosted 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 valued at $1,459,000 after buying an additional 1,080 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in WestRock by 1.0% in the first quarter. Geode Capital Management LLC now owns 2,113,783 shares of the company’s stock valued at $82,334,000 after buying an additional 21,346 shares in the last quarter. 90.32% of the stock is owned by hedge funds and other institutional investors.
WestRock Co. (NYSE:WRK) opened at 48.89 on Friday. WestRock Co. has a 12-month low of $29.73 and a 12-month high of $57.85. The company has a 50-day moving average price of $46.39 and a 200-day moving average price of $41.26. The stock’s market capitalization is $12.16 billion.
WestRock (NYSE:WRK) last posted its earnings results on Thursday, August 4th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $3.70 billion. During the same quarter in the prior year, the company earned $1.15 EPS. WestRock’s revenue was down 2.8% on a year-over-year basis. On average, equities research analysts forecast that WestRock Co. will post $3.96 earnings per share for the current year.
WRK has been the subject of several recent research reports. Zacks Investment Research cut WestRock from a “hold” rating to a “strong sell” rating in a report on Monday, July 4th. Citigroup Inc. raised their target price on WestRock from $52.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, August 31st. Credit Agricole SA raised their target price on WestRock from $46.00 to $54.00 and gave the stock an “underperform” rating in a research note on Tuesday, September 6th. Barclays PLC raised their target price on WestRock from $41.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 11th. Finally, Deutsche Bank AG reissued a “buy” rating and set a $46.00 target price on shares of WestRock in a research note on Wednesday, June 15th. 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. WestRock presently has an average rating of “Hold” and a consensus target price of $52.84.
In related news, Director John A. Luke, Jr. sold 188,103 shares of the company’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $46.62, for a total value of $8,769,361.86. Following the sale, the director now owns 837,343 shares of the company’s stock, valued at approximately $39,036,930.66. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.41% of the stock is owned by corporate insiders.
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.
Receive News & Ratings for WestRock Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WestRock Co. and related companies with MarketBeat.com's FREE daily email newsletter.