Deutsche Bank AG Reduces Stock Position in WestRock (NYSE:WRK)

Deutsche Bank AG trimmed its holdings in WestRock (NYSE:WRKGet Rating) by 63.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 789,991 shares of the basic materials company’s stock after selling 1,392,027 shares during the period. Deutsche Bank AG owned 0.31% of WestRock worth $31,474,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in WRK. SG Americas Securities LLC boosted its stake in WestRock by 141.2% in the 1st quarter. SG Americas Securities LLC now owns 20,615 shares of the basic materials company’s stock worth $970,000 after buying an additional 12,068 shares during the last quarter. Signaturefd LLC boosted its stake in WestRock by 22.9% in the 1st quarter. Signaturefd LLC now owns 1,332 shares of the basic materials company’s stock worth $63,000 after buying an additional 248 shares during the last quarter. Metis Global Partners LLC boosted its stake in WestRock by 27.4% in the 1st quarter. Metis Global Partners LLC now owns 8,757 shares of the basic materials company’s stock worth $413,000 after buying an additional 1,884 shares during the last quarter. Arizona State Retirement System boosted its stake in WestRock by 1.5% in the 1st quarter. Arizona State Retirement System now owns 73,765 shares of the basic materials company’s stock worth $3,469,000 after buying an additional 1,069 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in WestRock by 5.1% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 6,617 shares of the basic materials company’s stock worth $311,000 after buying an additional 323 shares during the last quarter. 83.52% of the stock is owned by institutional investors and hedge funds.

WestRock Stock Up 0.2 %

Shares of NYSE:WRK opened at $37.62 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.53 and a debt-to-equity ratio of 0.66. WestRock has a 52-week low of $30.08 and a 52-week high of $54.78. The company has a 50 day moving average of $33.86 and a two-hundred day moving average of $39.62. The company has a market capitalization of $9.57 billion, a price-to-earnings ratio of 10.34, a price-to-earnings-growth ratio of 0.91 and a beta of 1.12.

WestRock (NYSE:WRKGet Rating) last issued its quarterly earnings data on Thursday, November 10th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.02). WestRock had a net margin of 4.44% and a return on equity of 10.77%. The firm had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.44 billion. During the same period last year, the business earned $1.23 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. As a group, analysts forecast that WestRock will post 3.88 earnings per share for the current fiscal year.

WestRock Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 23rd. Shareholders of record on Thursday, November 10th were given a $0.275 dividend. This is an increase from WestRock’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, November 9th. This represents a $1.10 annualized dividend and a yield of 2.92%. WestRock’s dividend payout ratio (DPR) is 30.22%.

Wall Street Analyst Weigh In

WRK has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on WestRock from $45.00 to $37.00 and set a “hold” rating on the stock in a research note on Tuesday, October 18th. Bank of America dropped their target price on shares of WestRock from $57.00 to $40.00 in a research report on Thursday, October 13th. StockNews.com downgraded shares of WestRock from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 16th. Truist Financial dropped their target price on shares of WestRock from $40.00 to $35.00 and set a “hold” rating for the company in a research report on Friday, November 11th. Finally, Citigroup increased their target price on shares of WestRock from $35.00 to $39.00 in a research report on Sunday, November 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $38.00.

WestRock Company Profile

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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 two segments, Corrugated Packaging and Consumer Packaging. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards to consumer and industrial products manufacturers, and corrugated box manufacturers.

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Institutional Ownership by Quarter for WestRock (NYSE:WRK)

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