WestRock Co (WRK) Price Target Raised to $60.00 at Barclays PLC

WestRock Co (NYSE:WRK) had its price target upped by Barclays PLC from $58.00 to $60.00 in a report issued on Monday, November 6th. Barclays PLC currently has an equal weight rating on the basic materials company’s stock.

WRK has been the topic of several other reports. DA Davidson reiterated a buy rating and set a $74.00 price target on shares of WestRock in a research report on Friday, November 3rd. Stephens assumed coverage on WestRock in a report on Tuesday, October 24th. They set an equal weight rating and a $61.00 price objective for the company. KeyCorp reissued a hold rating on shares of WestRock in a report on Wednesday, October 11th. Deutsche Bank AG reaffirmed a buy rating and issued a $65.00 target price (up previously from $61.00) on shares of WestRock in a research note on Monday, October 9th. Finally, Royal Bank Of Canada reaffirmed a buy rating and issued a $65.00 target price on shares of WestRock in a research note on Monday, September 25th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. WestRock presently has an average rating of Buy and a consensus target price of $65.09.

WestRock (NYSE WRK) traded up $0.07 during trading on Monday, reaching $58.86. 350,754 shares of the company’s stock traded hands, compared to its average volume of 1,447,556. The company has a current ratio of 1.49, a quick ratio of 0.89 and a debt-to-equity ratio of 0.57. WestRock has a 52-week low of $49.23 and a 52-week high of $61.60. The company has a market cap of $14,968.78, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 1.36 and a beta of 1.37.

WestRock (NYSE:WRK) last posted its quarterly earnings results on Thursday, November 2nd. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.06. The business had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.13 billion. WestRock had a net margin of 4.81% and a return on equity of 7.68%. WestRock’s revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.71 EPS. equities research analysts expect that WestRock will post 3.74 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Friday, November 10th were issued a $0.43 dividend. This is an increase from WestRock’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $1.72 dividend on an annualized basis and a yield of 2.92%. WestRock’s dividend payout ratio is 62.09%.

In other news, insider Jeffrey Wayne Chalovich sold 18,368 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $58.41, for a total value of $1,072,874.88. Following the sale, the insider now directly owns 24,859 shares of the company’s stock, valued at $1,452,014.19. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John A. Luke, Jr. sold 10,343 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $58.81, for a total value of $608,271.83. Following the completion of the sale, the director now directly owns 497,557 shares in the company, valued at $29,261,327.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 453,722 shares of company stock valued at $25,616,721. 2.68% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in WRK. Mckinley Capital Management LLC Delaware purchased a new position in WestRock in the second quarter worth about $100,000. Sun Life Financial INC boosted its position 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 last quarter. Invictus RG purchased a new position in WestRock in the third quarter worth about $108,000. Old Mutual Global Investors UK Ltd. purchased a new position in WestRock in the third quarter worth about $130,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position 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 last quarter. 86.92% of the stock is currently owned by institutional investors.

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About WestRock

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.

Analyst Recommendations for WestRock (NYSE:WRK)

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