PNC Financial Services Group Inc. lowered its stake in Westrock Co (NYSE:WRK) by 6.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 49,029 shares of the basic materials company’s stock after selling 3,488 shares during the period. PNC Financial Services Group Inc.’s holdings in Westrock were worth $1,386,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. Flagship Harbor Advisors LLC boosted its holdings in Westrock by 112.8% in the second quarter. Flagship Harbor Advisors LLC now owns 1,066 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 565 shares in the last quarter. TRUE Private Wealth Advisors raised its position in shares of Westrock by 1,351.9% in the 2nd quarter. TRUE Private Wealth Advisors now owns 1,176 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 1,095 shares during the last quarter. Liberty One Investment Management LLC bought a new position in Westrock in the 2nd quarter worth about $40,000. AdvisorNet Financial Inc grew its position in Westrock by 60.8% during the 2nd quarter. AdvisorNet Financial Inc now owns 1,462 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 553 shares during the last quarter. Finally, Signaturefd LLC increased its stake in Westrock by 121.4% during the 2nd quarter. Signaturefd LLC now owns 1,647 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 903 shares in the last quarter. 80.83% of the stock is owned by institutional investors.
NYSE:WRK opened at $33.06 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.03 and a current ratio of 1.80. The stock has a 50-day simple moving average of $31.66 and a two-hundred day simple moving average of $29.04. The firm has a market capitalization of $8.58 billion, a PE ratio of 11.06 and a beta of 1.51. Westrock Co has a 52-week low of $21.50 and a 52-week high of $44.39.
Westrock (NYSE:WRK) last announced its quarterly earnings data on Tuesday, August 4th. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.32. The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.27 billion. Westrock had a return on equity of 7.24% and a net margin of 4.37%. The firm’s revenue was down 9.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.11 EPS. Equities analysts forecast that Westrock Co will post 2.62 earnings per share for the current fiscal year.
Several equities research analysts recently weighed in on WRK shares. DA Davidson reissued a “buy” rating on shares of Westrock in a research report on Wednesday, August 5th. Morgan Stanley assumed coverage on Westrock in a report on Monday, June 15th. They set an “equal weight” rating and a $28.00 price target on the stock. Wells Fargo & Company reiterated a “buy” rating and issued a $44.00 price objective (up from $40.00) on shares of Westrock in a report on Wednesday, September 9th. Citigroup upped their target price on shares of Westrock from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Bank of America lifted their price target on shares of Westrock from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, September 15th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. Westrock currently has an average rating of “Hold” and a consensus target price of $36.55.
About Westrock
WestRock Company manufactures and sells paper and packaging solutions for the consumer and corrugated markets in North America, South America, Europe, Australia, and Asia. The company operates through three segments: Corrugated Packaging, Consumer Packaging, and Land and Development. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards for consumer and industrial products manufacturers, and corrugated box manufacturers.
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