Toronto Dominion Bank Sells 22,654 Shares of WestRock (NYSE:WRK)

Toronto Dominion Bank lessened its holdings in shares of WestRock (NYSE:WRKGet Rating) by 15.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 124,890 shares of the basic materials company’s stock after selling 22,654 shares during the period. Toronto Dominion Bank’s holdings in WestRock were worth $4,974,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Ancora Advisors LLC bought a new position in shares of WestRock during the 1st quarter valued at about $29,000. Core Alternative Capital bought a new stake in WestRock in the 1st quarter valued at approximately $30,000. Tompkins Financial Corp bought a new stake in WestRock in the 1st quarter valued at approximately $37,000. Quadrant Capital Group LLC lifted its stake in WestRock by 48.6% in the 1st quarter. Quadrant Capital Group LLC now owns 905 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 296 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in WestRock by 22.9% in the 1st quarter. Signaturefd LLC now owns 1,332 shares of the basic materials company’s stock valued at $63,000 after acquiring an additional 248 shares in the last quarter. Institutional investors own 83.52% of the company’s stock.

WestRock Stock Up 0.2 %

NYSE:WRK opened at $37.62 on Thursday. The firm has a market capitalization of $9.57 billion, a price-to-earnings ratio of 10.34, a price-to-earnings-growth ratio of 0.91 and a beta of 1.12. WestRock has a twelve month low of $30.08 and a twelve month high of $54.78. The stock’s 50 day moving average price is $33.86 and its two-hundred day moving average price is $39.62. The company has a quick ratio of 0.94, a current ratio of 1.53 and a debt-to-equity ratio of 0.66.

WestRock (NYSE:WRKGet Rating) last posted its quarterly earnings results on Thursday, November 10th. The basic materials company reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.02). The company had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.44 billion. WestRock had a return on equity of 10.77% and a net margin of 4.44%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the firm earned $1.23 EPS. Equities research analysts expect that WestRock will post 3.88 earnings per share for the current fiscal year.

WestRock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 23rd. Investors of record on Thursday, November 10th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Wednesday, November 9th. This is a positive change from WestRock’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.92%. WestRock’s payout ratio is presently 30.22%.

Analysts Set New Price Targets

Several research firms have commented on WRK. Truist Financial cut their target price on WestRock from $40.00 to $35.00 and set a “hold” rating on the stock in a research note on Friday, November 11th. Wells Fargo & Company boosted their target price on WestRock from $42.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, November 11th. Bank of America cut their target price on WestRock from $57.00 to $40.00 in a research note on Thursday, October 13th. StockNews.com cut WestRock from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 16th. Finally, KeyCorp cut their target price on WestRock from $36.00 to $27.00 and set an “underweight” rating on the stock in a research note on Friday, September 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, WestRock has a consensus rating of “Hold” and a consensus price target of $38.00.

WestRock Company Profile

(Get Rating)

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 two segments, Corrugated Packaging and Consumer Packaging. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards to consumer and industrial products manufacturers, and corrugated box manufacturers.

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Institutional Ownership by Quarter for WestRock (NYSE:WRK)

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