Candriam Luxembourg S.C.A. decreased its stake in WestRock Co. (NYSE:WRK) by 0.6% during the second quarter, Holdings Channel reports. The firm owned 170,035 shares of the company’s stock after selling 1,034 shares during the period. Candriam Luxembourg S.C.A.’s holdings in WestRock were worth $6,610,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Fund Advisors raised its position in shares of WestRock by 75.7% in the first quarter. BlackRock Fund Advisors now owns 7,516,136 shares of the company’s stock valued at $293,355,000 after buying an additional 3,237,354 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of WestRock by 23.5% in the first quarter. JPMorgan Chase & Co. now owns 14,659,402 shares of the company’s stock valued at $572,156,000 after buying an additional 2,793,415 shares in the last quarter. BlackRock Group LTD raised its position in shares of WestRock by 32.3% in the first quarter. BlackRock Group LTD now owns 3,650,790 shares of the company’s stock valued at $142,491,000 after buying an additional 890,667 shares in the last quarter. State Street Corp raised its position in shares of WestRock by 4.4% in the first quarter. State Street Corp now owns 16,963,420 shares of the company’s stock valued at $662,084,000 after buying an additional 710,122 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its position in shares of WestRock by 711.4% in the first quarter. Nuveen Asset Management LLC now owns 579,160 shares of the company’s stock valued at $22,605,000 after buying an additional 507,780 shares in the last quarter. Institutional investors and hedge funds own 90.32% of the company’s stock.
WestRock Co. (NYSE:WRK) traded down 0.19% during midday trading on Tuesday, hitting $47.60. The company had a trading volume of 1,416,332 shares. The firm has a 50-day moving average price of $46.73 and a 200-day moving average price of $41.60. WestRock Co. has a 12 month low of $29.73 and a 12 month high of $57.85. The company’s market cap is $11.84 billion.
WestRock (NYSE:WRK) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. The firm had revenue of $3.60 million for the quarter, compared to the consensus estimate of $3.70 billion. WestRock had a positive return on equity of 6.71% and a negative net margin of 1.27%. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.15 EPS. Equities analysts anticipate that WestRock Co. will post $3.96 EPS for the current year.
Several equities analysts have recently commented on the company. Deutsche Bank AG raised their price target on WestRock from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Friday. Goldman Sachs Group Inc. assumed coverage on WestRock in a research note on Thursday, September 22nd. They issued a “neutral” rating and a $53.00 target price on the stock. Credit Agricole SA lifted their target price on WestRock from $46.00 to $54.00 and gave the company an “underperform” rating in a research note on Tuesday, September 6th. Citigroup Inc. lifted their target price on WestRock from $52.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, August 31st. Finally, Jefferies Group reiterated a “buy” rating on shares of WestRock in a research note on Monday, August 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus 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 firm’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $46.62, for a total transaction of $8,769,361.86. Following 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 document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.41% of the company’s stock.
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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