Westrock Company (WRK) Shares Sold by First Capital Advisors Group LLC.
First Capital Advisors Group LLC. decreased its stake in Westrock Company (NYSE:WRK) by 5.6% during the second quarter, Holdings Channel reports. The institutional investor owned 10,099 shares of the basic materials company’s stock after selling 595 shares during the period. First Capital Advisors Group LLC.’s holdings in Westrock were worth $572,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. BlackRock Inc. boosted its position in Westrock by 3,569.1% in the first quarter. BlackRock Inc. now owns 22,418,080 shares of the basic materials company’s stock valued at $1,166,413,000 after buying an additional 21,807,090 shares in the last quarter. AQR Capital Management LLC boosted its position in Westrock by 450.1% in the first quarter. AQR Capital Management LLC now owns 2,486,279 shares of the basic materials company’s stock valued at $129,362,000 after buying an additional 2,034,341 shares in the last quarter. Bank of Montreal Can boosted its position in Westrock by 262.9% in the second quarter. Bank of Montreal Can now owns 2,547,693 shares of the basic materials company’s stock valued at $144,353,000 after buying an additional 1,845,658 shares in the last quarter. Janus Capital Management LLC boosted its position in Westrock by 149.8% in the first quarter. Janus Capital Management LLC now owns 2,095,551 shares of the basic materials company’s stock valued at $109,032,000 after buying an additional 1,256,498 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Westrock by 4.5% in the first quarter. Vanguard Group Inc. now owns 25,726,835 shares of the basic materials company’s stock valued at $1,338,567,000 after buying an additional 1,105,605 shares in the last quarter. 89.22% of the stock is owned by institutional investors and hedge funds.
Shares of Westrock Company (NYSE:WRK) opened at 55.23 on Friday. The company has a market capitalization of $14.10 billion, a price-to-earnings ratio of 33.51 and a beta of 1.37. Westrock Company has a 1-year low of $43.57 and a 1-year high of $60.36. The stock has a 50 day moving average price of $57.69 and a 200 day moving average price of $54.53.
Westrock (NYSE:WRK) last released its quarterly earnings results on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.10. Westrock had a net margin of 2.92% and a return on equity of 6.38%. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the previous year, the business earned $0.71 earnings per share. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. Analysts forecast that Westrock Company will post $2.62 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Friday, August 11th will be given a $0.40 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.90%. Westrock’s payout ratio is 97.56%.
Several equities analysts recently weighed in on WRK shares. Goldman Sachs Group, Inc. (The) raised Westrock from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $57.00 to $61.00 in a research report on Tuesday, April 18th. Credit Suisse Group reaffirmed a “buy” rating and issued a $66.00 price target on shares of Westrock in a report on Thursday, April 27th. TheStreet raised Westrock from a “c+” rating to a “b-” rating in a report on Thursday, May 11th. Royal Bank Of Canada raised Westrock from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $54.00 to $59.00 in a report on Wednesday, April 19th. Finally, Barclays PLC upped their price target on Westrock from $50.00 to $52.00 and gave the company an “equal weight” rating in a report on Monday, May 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $61.91.
In other news, Director John A. Luke, Jr. sold 10,343 shares of Westrock stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $58.61, for a total value of $606,203.23. Following the completion of the sale, the director now directly owns 497,557 shares in the company, valued at $29,161,815.77. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last quarter, insiders sold 41,372 shares of company stock valued at $2,404,334. 2.68% of the stock is owned by company insiders.
Westrock Company Profile
WestRock Company, incorporated on March 6, 2015, is a multinational provider of paper and packaging solutions for consumer and corrugated packaging markets. The Company also develops real estate in the Charleston, South Carolina region. The Company’s segments include Corrugated Packaging, Consumer Packaging, and Land and Development.
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