First Midwest Bank Trust Division acquired a new position in shares of WestRock Co. (NYSE:WRK) during the second quarter, Holdings Channel reports. The firm acquired 10,730 shares of the company’s stock, valued at approximately $417,000.
A number of other institutional investors have also recently bought and sold shares of the stock. Botty Investors LLC purchased a new position in WestRock during the second quarter worth $137,000. Advisor Partners LLC purchased a new position in WestRock during the first quarter worth $203,000. IFP Advisors Inc raised its position in WestRock by 6.2% in the first quarter. IFP Advisors Inc now owns 5,660 shares of the company’s stock worth $221,000 after buying an additional 328 shares during the period. Rehmann Capital Advisory Group purchased a new position in WestRock during the second quarter worth $227,000. Finally, Westend Capital Management LLC purchased a new position in WestRock during the first quarter worth $248,000. Hedge funds and other institutional investors own 90.32% of the company’s stock.
Shares of WestRock Co. (NYSE:WRK) traded up 1.96% on Thursday, reaching $47.45. 1,669,444 shares of the company traded hands. The company’s market capitalization is $11.80 billion. The firm has a 50-day moving average of $47.35 and a 200-day moving average of $41.98. WestRock Co. has a 52-week low of $29.73 and a 52-week high of $57.85.
WestRock (NYSE:WRK) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 business earned $3.60 million during the quarter, compared to analyst estimates of $3.70 billion. During the same quarter last year, the company posted $1.15 EPS. WestRock’s revenue for the quarter 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 fiscal year.
A number of research firms recently weighed in on WRK. Goldman Sachs Group Inc. began coverage on shares of WestRock in a research report on Thursday, September 22nd. They issued a “neutral” rating and a $53.00 price objective on the stock. Barclays PLC lifted their price objective on shares of WestRock from $41.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, August 11th. Credit Suisse Group AG set a $50.00 target price on shares of WestRock and gave the stock a “buy” rating in a research report on Friday, August 5th. Deutsche Bank AG set a $50.00 target price on shares of WestRock and gave the stock a “buy” rating in a research report on Friday, August 5th. Finally, Citigroup Inc. boosted their target price on shares of WestRock from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $53.04.
In related news, Director John A. Luke, Jr. sold 188,103 shares of the stock in a transaction 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 completion of the transaction, the director now owns 837,343 shares in the company, valued at approximately $39,036,930.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.41% of the stock is owned by corporate insiders.
WestRock Company Profile
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.
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