Raymond James Financial Services Advisors Inc. Has $909,000 Holdings in WestRock (NYSE:WRK)

Raymond James Financial Services Advisors Inc. trimmed its holdings in shares of WestRock (NYSE:WRK) by 4.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 21,897 shares of the basic materials company’s stock after selling 954 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in WestRock were worth $909,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. bought a new position in shares of WestRock in the 3rd quarter valued at approximately $27,000. Ancora Advisors LLC acquired a new position in WestRock during the first quarter valued at approximately $29,000. Gyon Technologies Capital Management LP acquired a new stake in shares of WestRock in the fourth quarter worth $31,000. Financial Management Professionals Inc. boosted its holdings in shares of WestRock by 1,815.2% during the 3rd quarter. Financial Management Professionals Inc. now owns 881 shares of the basic materials company’s stock worth $32,000 after buying an additional 835 shares during the period. Finally, Clear Street Markets LLC grew its stake in WestRock by 198.5% in the 3rd quarter. Clear Street Markets LLC now owns 1,000 shares of the basic materials company’s stock valued at $36,000 after buying an additional 665 shares during the last quarter. 83.38% of the stock is currently owned by institutional investors.

WestRock Stock Performance

WRK opened at $47.50 on Tuesday. The stock has a market cap of $12.26 billion, a PE ratio of -7.07, a P/E/G ratio of 3.93 and a beta of 1.10. WestRock has a 1 year low of $26.85 and a 1 year high of $49.67. The stock’s 50 day simple moving average is $46.21 and its 200-day simple moving average is $41.67. The company has a current ratio of 1.55, a quick ratio of 0.95 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.15). The business had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.79 billion. WestRock had a negative net margin of 8.58% and a positive return on equity of 6.87%. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period last year, the firm earned $0.55 EPS. Sell-side analysts forecast that WestRock will post 1.95 EPS for the current year.

WestRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Shareholders of record on Friday, February 9th were paid a dividend of $0.3025 per share. This represents a $1.21 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date was Thursday, February 8th. WestRock’s dividend payout ratio is -18.01%.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, insider Vicki L. Lostetter sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $42.77, for a total transaction of $149,695.00. Following the completion of the transaction, the insider now owns 92,117 shares in the company, valued at approximately $3,939,844.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.49% of the company’s stock.

WestRock Company 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.