PNC Financial Services Group Inc. Has $2.34 Million Position in WestRock (NYSE:WRK)

PNC Financial Services Group Inc. lifted its holdings in shares of WestRock (NYSE:WRKFree Report) by 4.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,419 shares of the basic materials company’s stock after purchasing an additional 2,329 shares during the quarter. PNC Financial Services Group Inc.’s holdings in WestRock were worth $2,342,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of WRK. Norges Bank acquired a new stake in WestRock in the 4th quarter valued at approximately $198,063,000. JPMorgan Chase & Co. raised its position in WestRock by 2.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,954,114 shares of the basic materials company’s stock valued at $105,757,000 after buying an additional 74,185 shares during the last quarter. Segantii Capital Management Ltd raised its position in WestRock by 75.2% in the 4th quarter. Segantii Capital Management Ltd now owns 2,907,561 shares of the basic materials company’s stock valued at $120,722,000 after buying an additional 1,247,561 shares during the last quarter. Northern Trust Corp raised its position in WestRock by 11.4% in the 3rd quarter. Northern Trust Corp now owns 2,696,898 shares of the basic materials company’s stock valued at $96,549,000 after buying an additional 275,033 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in WestRock by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,632,588 shares of the basic materials company’s stock valued at $109,305,000 after buying an additional 80,098 shares during the last quarter. Institutional investors and hedge funds own 83.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on WRK shares. Truist Financial lifted their target price on WestRock from $42.00 to $51.00 and gave the company a “hold” rating in a research report on Tuesday, May 7th. Argus raised their price target on WestRock from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $42.00 price target on shares of WestRock in a research note on Friday, February 2nd. Wells Fargo & Company lifted their target price on WestRock from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Finally, Seaport Res Ptn downgraded WestRock from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, WestRock has a consensus rating of “Hold” and an average target price of $47.60.

Read Our Latest Stock Report on WestRock

WestRock Stock Performance

WRK opened at $54.13 on Monday. The business has a fifty day simple moving average of $49.71 and a 200 day simple moving average of $44.49. The company has a market capitalization of $13.91 billion, a PE ratio of 45.49, a price-to-earnings-growth ratio of 3.43 and a beta of 1.10. WestRock has a 1 year low of $27.12 and a 1 year high of $54.14. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.34 and a quick ratio of 0.85.

WestRock (NYSE:WRKGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.14. The business had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.75 billion. WestRock had a return on equity of 5.85% and a net margin of 1.57%. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.77 EPS. Research analysts expect that WestRock will post 2.11 EPS for the current year.

WestRock Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th were paid a $0.3025 dividend. The ex-dividend date of this dividend was Monday, May 13th. This represents a $1.21 annualized dividend and a yield of 2.24%. WestRock’s dividend payout ratio (DPR) is presently 101.68%.

Insider Activity at WestRock

In related news, insider John L. O’neal sold 6,965 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $51.47, for a total value of $358,488.55. Following the completion of the sale, the insider now directly owns 60,491 shares in the company, valued at approximately $3,113,471.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other WestRock news, EVP Denise R. Singleton sold 9,700 shares of WestRock stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $51.46, for a total value of $499,162.00. Following the completion of the transaction, the executive vice president now directly owns 74,946 shares of the company’s stock, valued at approximately $3,856,721.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John L. O’neal sold 6,965 shares of WestRock stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $51.47, for a total value of $358,488.55. Following the completion of the transaction, the insider now directly owns 60,491 shares of the company’s stock, valued at $3,113,471.77. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by corporate insiders.

WestRock Company Profile

(Free Report)

WestRock Company, together with its subsidiaries, provides fiber-based paper and packaging solutions in North America, South America, Europe, Asia, and Australia. It operates through four segments: Corrugated Packaging, Consumer Packaging, Global Paper, and Distribution. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards to consumer and industrial products manufacturers, and corrugated box manufacturers.

See Also

Institutional Ownership by Quarter for WestRock (NYSE:WRK)

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