WestRock (NYSE:WRK) Shares Sold by Telos Capital Management Inc.

Telos Capital Management Inc. cut its holdings in shares of WestRock (NYSE:WRK) by 8.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 115,472 shares of the basic materials company’s stock after selling 10,223 shares during the period. Telos Capital Management Inc.’s holdings in WestRock were worth $4,794,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in WestRock by 0.8% during the first quarter. Vanguard Group Inc. now owns 30,619,872 shares of the basic materials company’s stock valued at $1,440,053,000 after purchasing an additional 252,490 shares during the last quarter. BlackRock Inc. raised its holdings in shares of WestRock by 9.6% during the first quarter. BlackRock Inc. now owns 26,528,567 shares of the basic materials company’s stock valued at $808,325,000 after acquiring an additional 2,320,073 shares during the period. State Street Corp raised its holdings in shares of WestRock by 14.7% during the second quarter. State Street Corp now owns 11,986,307 shares of the basic materials company’s stock valued at $348,442,000 after acquiring an additional 1,538,825 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of WestRock by 59.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,318,827 shares of the basic materials company’s stock valued at $283,947,000 after acquiring an additional 3,459,641 shares during the period. Finally, Norges Bank acquired a new stake in shares of WestRock during the fourth quarter valued at approximately $194,739,000. 83.38% of the stock is owned by institutional investors and hedge funds.

WestRock Stock Up 0.8 %

Shares of WRK traded up $0.40 during mid-day trading on Wednesday, hitting $47.61. 728,717 shares of the company’s stock were exchanged, compared to its average volume of 2,118,629. The firm has a fifty day moving average of $46.38 and a two-hundred day moving average of $41.75. WestRock has a twelve month low of $26.85 and a twelve month high of $49.67. The stock has a market cap of $12.29 billion, a price-to-earnings ratio of -7.02, a P/E/G ratio of 3.89 and a beta of 1.10. The company has a quick ratio of 0.95, a current ratio of 1.55 and a debt-to-equity ratio of 0.81.

WestRock (NYSE:WRK) last announced its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.15). WestRock had a positive return on equity of 6.87% and a negative net margin of 8.58%. The business had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.79 billion. During the same quarter last year, the company earned $0.55 EPS. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. On average, sell-side analysts forecast that WestRock will post 1.95 earnings per share for the current year.

WestRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 21st. Investors of record on Friday, February 9th were issued a dividend of $0.3025 per share. This represents a $1.21 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Thursday, February 8th. WestRock’s dividend payout ratio is currently -18.01%.

Insider Buying and Selling

In related news, insider Vicki L. Lostetter sold 3,500 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $42.77, for a total transaction of $149,695.00. Following the completion of the sale, the insider now directly owns 92,117 shares of the company’s stock, valued at approximately $3,939,844.09. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.49% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Seaport Res Ptn lowered shares of WestRock from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. Royal Bank of Canada restated a “sector perform” rating and set a $42.00 price target on shares of WestRock in a report on Friday, February 2nd. StockNews.com assumed coverage on shares of WestRock in a report on Tuesday. They set a “hold” rating on the stock. Wells Fargo & Company restated an “equal weight” rating and set a $45.00 price target (up previously from $42.00) on shares of WestRock in a report on Thursday, January 11th. Finally, Truist Financial upped their price objective on shares of WestRock from $40.00 to $48.00 and gave the company a “hold” rating in a research note on Thursday, January 4th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $42.40.

About WestRock

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.