WestRock (NYSE:WRK) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC reduced its position in WestRock (NYSE:WRK) by 5.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 5,373 shares of the basic materials company’s stock after selling 299 shares during the quarter. Axxcess Wealth Management LLC’s holdings in WestRock were worth $266,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Carlson Capital L P lifted its holdings in shares of WestRock by 51.8% in the 1st quarter. Carlson Capital L P now owns 828,472 shares of the basic materials company’s stock valued at $40,968,000 after buying an additional 282,772 shares during the period. Shell Asset Management Co. increased its holdings in shares of WestRock by 58.7% in the 1st quarter. Shell Asset Management Co. now owns 49,766 shares of the basic materials company’s stock valued at $2,461,000 after purchasing an additional 18,401 shares in the last quarter. Natixis increased its holdings in shares of WestRock by 180.0% in the 1st quarter. Natixis now owns 496,580 shares of the basic materials company’s stock valued at $24,556,000 after purchasing an additional 319,230 shares in the last quarter. National Bank of Canada FI lifted its stake in shares of WestRock by 11.9% in the first quarter. National Bank of Canada FI now owns 499,828 shares of the basic materials company’s stock valued at $25,811,000 after purchasing an additional 52,993 shares during the period. Finally, UniSuper Management Pty Ltd boosted its holdings in WestRock by 575.3% during the first quarter. UniSuper Management Pty Ltd now owns 23,054 shares of the basic materials company’s stock worth $1,140,000 after buying an additional 19,640 shares in the last quarter. Hedge funds and other institutional investors own 83.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on WRK shares. Wells Fargo & Company lifted their price target on shares of WestRock from $46.00 to $51.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Truist Financial boosted their price objective on shares of WestRock from $51.00 to $57.00 and gave the stock a “hold” rating in a research report on Thursday, May 30th. Argus raised their target price on shares of WestRock from $50.00 to $57.00 and gave the company a “buy” rating in a report on Monday, May 6th. Finally, StockNews.com started coverage on shares of WestRock in a report on Wednesday. They issued a “hold” rating on the stock. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $51.75.

Insiders Place Their Bets

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

WestRock Trading Up 3.5 %

NYSE WRK opened at $51.51 on Friday. The company has a market cap of $13.24 billion, a P/E ratio of 43.29, a P/E/G ratio of 2.13 and a beta of 1.05. WestRock has a 12 month low of $27.86 and a 12 month high of $54.83. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.34 and a quick ratio of 0.85. The company has a 50-day moving average of $51.52 and a 200-day moving average of $47.89.

WestRock (NYSE:WRK) last announced its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.14. WestRock had a net margin of 1.57% and a return on equity of 5.85%. The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.75 billion. During the same quarter last year, the business earned $0.77 EPS. WestRock’s revenue for the quarter was down 10.4% on a year-over-year basis. As a group, equities analysts predict that WestRock will post 2.16 earnings per share for the current year.

WestRock Profile

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.