Cumberland Partners Ltd reduced its stake in WestRock Co. (NYSE:WRK) by 6.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,400 shares of the company’s stock after selling 375 shares during the period. Cumberland Partners Ltd’s holdings in WestRock were worth $210,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Atalanta Sosnoff Capital LLC purchased a new position in WestRock during the second quarter worth approximately $14,055,000. Legal & General Group Plc raised its position in WestRock by 1.6% in the first quarter. Legal & General Group Plc now owns 1,112,234 shares of the company’s stock worth $43,406,000 after buying an additional 17,865 shares in the last quarter. Norges Bank purchased a new position in WestRock during the fourth quarter worth approximately $115,688,000. Nomura Asset Management Co. Ltd. raised its position in WestRock by 3.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 31,974 shares of the company’s stock worth $1,459,000 after buying an additional 1,080 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in WestRock by 1.0% in the first quarter. Geode Capital Management LLC now owns 2,113,783 shares of the company’s stock worth $82,334,000 after buying an additional 21,346 shares in the last quarter. Hedge funds and other institutional investors own 90.32% of the company’s stock.
Shares of WestRock Co. (NYSE:WRK) traded up 0.08% on Friday, reaching $48.40. 1,282,204 shares of the company traded hands. WestRock Co. has a 52-week low of $29.73 and a 52-week high of $57.85. The stock has a 50 day moving average of $46.39 and a 200 day moving average of $41.26. The stock’s market cap is $12.04 billion.
WestRock (NYSE:WRK) last issued its earnings results on Thursday, August 4th. The company reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.05. WestRock had a negative net margin of 1.27% and a positive return on equity of 6.71%. The firm earned $3.60 million during the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the prior year, the firm earned $1.15 earnings per share. The business’s quarterly revenue was down 2.8% on a year-over-year basis. On average, analysts expect that WestRock Co. will post $3.96 earnings per share for the current year.
A number of equities analysts recently commented on WRK shares. Zacks Investment Research lowered shares of WestRock from a “hold” rating to a “strong sell” rating in a research note on Monday, July 4th. Citigroup Inc. lifted their target price on shares of WestRock from $52.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, August 31st. Credit Agricole SA lifted their target price on shares of WestRock from $46.00 to $54.00 and gave the company an “underperform” rating in a research note on Tuesday, September 6th. Barclays PLC lifted their target price on shares of WestRock from $41.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 11th. Finally, Goldman Sachs Group Inc. started coverage on shares of WestRock in a research note on Thursday. They set a “neutral” rating and a $53.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. WestRock has a consensus rating of “Hold” and an average target price of $53.04.
In other WestRock news, Director John A. Luke, Jr. sold 188,103 shares of the company’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $46.62, for a total value of $8,769,361.86. Following the completion of the sale, the director now owns 837,343 shares of the company’s stock, valued at $39,036,930.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.41% of the stock is currently owned by company 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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