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

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

Several other hedge funds also recently added to or reduced their stakes in the business. Fifth Third Bancorp raised its holdings in shares of WestRock by 15.2% in the fourth quarter. Fifth Third Bancorp now owns 10,864 shares of the basic materials company’s stock worth $451,000 after buying an additional 1,431 shares during the last quarter. Oak Thistle LLC acquired a new position in shares of WestRock in the 4th quarter valued at $836,000. Arizona State Retirement System raised its stake in WestRock by 0.8% in the 4th quarter. Arizona State Retirement System now owns 70,470 shares of the basic materials company’s stock worth $2,926,000 after acquiring an additional 593 shares during the last quarter. International Assets Investment Management LLC lifted its position in WestRock by 268.7% during the 4th quarter. International Assets Investment Management LLC now owns 789 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 575 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its stake in WestRock by 47.1% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 42,773 shares of the basic materials company’s stock valued at $1,786,000 after purchasing an additional 13,688 shares during the last quarter. 83.38% of the stock is owned by institutional investors and hedge funds.

WestRock Stock Performance

WRK opened at $51.51 on Friday. The stock 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. 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 firm has a fifty day moving average price of $51.52 and a 200 day moving average price of $47.89. WestRock has a 1 year low of $27.86 and a 1 year high of $54.83.

WestRock (NYSE:WRK) last issued its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.39 earnings per share for the quarter, topping 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 business had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.75 billion. During the same quarter in the prior year, the firm posted $0.77 earnings per share. The company’s revenue was down 10.4% compared to the same quarter last year. Equities research analysts anticipate that WestRock will post 2.16 earnings per share for the current year.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

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

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.