Short Interest in WestRock Co (NYSE:WRK) Rises By 59.4%

WestRock Co (NYSE:WRK) was the target of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 3,593,475 shares, an increase of 59.4% from the November 30th total of 2,253,762 shares. Approximately 1.4% of the company’s stock are short sold. Based on an average daily trading volume, of 2,030,861 shares, the short-interest ratio is presently 1.8 days.

In related news, insider James B. Porter sold 14,930 shares of WestRock stock in a transaction on Friday, January 26th. The shares were sold at an average price of $70.00, for a total value of $1,045,100.00. Following the completion of the sale, the insider now owns 50,093 shares in the company, valued at $3,506,510. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robert A. Feeser sold 29,972 shares of WestRock stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $60.00, for a total transaction of $1,798,320.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 135,346 shares of company stock valued at $8,367,664. Insiders own 2.20% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Mckinley Capital Management LLC Delaware bought a new position in shares of WestRock during the second quarter worth about $100,000. Sun Life Financial INC lifted its holdings in WestRock by 26,114.3% in the second quarter. Sun Life Financial INC now owns 1,835 shares of the basic materials company’s stock worth $104,000 after purchasing an additional 1,828 shares during the period. Invictus RG acquired a new stake in WestRock in the third quarter worth about $108,000. Old Mutual Global Investors UK Ltd. acquired a new stake in WestRock in the third quarter worth about $130,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in WestRock by 25.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,548 shares of the basic materials company’s stock worth $144,000 after purchasing an additional 509 shares during the period. Institutional investors and hedge funds own 87.69% of the company’s stock.

Several analysts have weighed in on WRK shares. BMO Capital Markets reiterated a “buy” rating and set a $77.00 target price on shares of WestRock in a research note on Thursday, January 25th. DA Davidson reiterated a “buy” rating and set a $82.00 target price on shares of WestRock in a research note on Tuesday. Deutsche Bank set a $70.00 target price on shares of WestRock and gave the company a “buy” rating in a research note on Thursday, December 14th. Royal Bank of Canada reiterated a “buy” rating and set a $85.00 target price on shares of WestRock in a research note on Tuesday. Finally, Citigroup boosted their target price on shares of WestRock from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $73.17.

WestRock (WRK) traded down $1.53 during trading on Wednesday, hitting $66.63. 3,908,623 shares of the stock traded hands, compared to its average volume of 2,143,384. The company has a market capitalization of $16,910.00 and a price-to-earnings ratio of 9.76. The company has a quick ratio of 0.89, a current ratio of 1.49 and a debt-to-equity ratio of 0.57. WestRock has a fifty-two week low of $49.23 and a fifty-two week high of $71.55.

WestRock (NYSE:WRK) last released its quarterly earnings results on Monday, January 29th. The basic materials company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.75 by $0.12. The business had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.95 billion. WestRock had a net margin of 11.51% and a return on equity of 7.69%. The company’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 earnings per share. research analysts expect that WestRock will post 3.86 earnings per share for the current year.

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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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