Westrock Company (WRK) is Canal Capital Management LLC’s 4th Largest Position

Canal Capital Management LLC raised its stake in shares of Westrock Company (NYSE:WRK) by 32.2% during the second quarter, Holdings Channel reports. The institutional investor owned 112,407 shares of the basic materials company’s stock after buying an additional 27,347 shares during the period. Westrock comprises 3.9% of Canal Capital Management LLC’s holdings, making the stock its 4th largest position. Canal Capital Management LLC’s holdings in Westrock were worth $6,369,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of 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 during the last quarter. AQR Capital Management LLC boosted its position in shares of 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 during the last quarter. Bank of Montreal Can boosted its position in shares of 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 during the last quarter. Janus Capital Management LLC boosted its position in shares of 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 during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of 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 during the last quarter. Institutional investors own 88.89% of the company’s stock.

Shares of Westrock Company (NYSE:WRK) traded up 0.13% during midday trading on Monday, hitting $59.73. 1,252,871 shares of the company’s stock traded hands. Westrock Company has a 1-year low of $40.63 and a 1-year high of $60.36. The company has a 50 day moving average price of $55.37 and a 200 day moving average price of $53.31. The firm has a market capitalization of $14.82 billion, a price-to-earnings ratio of 83.07 and a beta of 1.37.

Westrock (NYSE:WRK) last released its quarterly earnings results on Wednesday, April 26th. The basic materials company reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.07. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.59 billion. Westrock had a net margin of 1.29% and a return on equity of 6.35%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 earnings per share. Equities analysts anticipate that Westrock Company will post $2.55 earnings per share for the current year.

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WRK has been the topic of several research analyst reports. Goldman Sachs Group, Inc. (The) raised shares of Westrock from a “neutral” rating to a “buy” rating and increased their price target for the stock from $57.00 to $61.00 in a research report on Tuesday, April 18th. Credit Suisse Group reissued a “buy” rating and issued a $66.00 target price on shares of Westrock in a report on Thursday, April 27th. TheStreet raised shares of Westrock from a “c+” rating to a “b-” rating in a report on Thursday, May 11th. Barclays PLC raised their target price on shares of Westrock from $50.00 to $52.00 and gave the stock an “equal weight” rating in a report on Monday, May 1st. Finally, Royal Bank Of Canada raised shares of Westrock from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $54.00 to $59.00 in a report on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $61.27.

In other news, Director John A. Luke, Jr. sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $53.83, for a total transaction of $4,037,250.00. Following the transaction, the director now directly owns 495,435 shares in the company, valued at $26,669,266.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.68% of the stock is currently owned by corporate 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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Institutional Ownership by Quarter for Westrock (NYSE:WRK)

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