Zurcher Kantonalbank Zurich Cantonalbank Has $1.60 Million Stock Position in WestRock (NYSE:WRK)

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of WestRock (NYSE:WRK) by 50.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,413 shares of the basic materials company’s stock after selling 38,762 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in WestRock were worth $1,595,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Pentwater Capital Management LP acquired a new stake in WestRock in the third quarter valued at about $61,378,000. Segantii Capital Management Ltd acquired a new stake in WestRock in the third quarter valued at about $59,428,000. Assenagon Asset Management S.A. boosted its stake in WestRock by 6,024.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,290,708 shares of the basic materials company’s stock valued at $46,207,000 after buying an additional 1,269,632 shares in the last quarter. FMR LLC boosted its stake in WestRock by 140.3% in the third quarter. FMR LLC now owns 2,173,923 shares of the basic materials company’s stock valued at $77,826,000 after buying an additional 1,269,375 shares in the last quarter. Finally, Westchester Capital Management LLC acquired a new stake in WestRock in the third quarter valued at about $27,593,000. 83.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WRK has been the topic of several research analyst reports. Seaport Res Ptn lowered WestRock from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Royal Bank of Canada reissued a “sector perform” rating and set a $42.00 price target on shares of WestRock in a research note on Friday, February 2nd. Truist Financial lifted their price target on WestRock from $40.00 to $48.00 and gave the company a “hold” rating in a research note on Thursday, January 4th. Wells Fargo & Company reissued an “equal weight” rating and set a $45.00 price target (up from $42.00) on shares of WestRock in a research note on Thursday, January 11th. Finally, StockNews.com initiated coverage on WestRock in a research note on Wednesday. They set a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, WestRock currently has an average rating of “Hold” and an average target price of $43.00.

WestRock Stock Down 1.4 %

Shares of WRK opened at $46.81 on Friday. WestRock has a 1 year low of $26.85 and a 1 year high of $49.67. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.95 and a current ratio of 1.55. The business has a 50-day moving average of $47.04 and a 200-day moving average of $42.20.

WestRock (NYSE:WRK) last issued its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.15). WestRock had a positive return on equity of 6.87% and a negative net margin of 8.58%. The company had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.79 billion. During the same quarter last year, the business earned $0.55 earnings per share. WestRock’s revenue was down 6.2% compared to the same quarter last year. Equities research analysts anticipate that WestRock will post 1.93 EPS for the current fiscal year.

Insider Transactions at WestRock

In other news, insider Vicki L. Lostetter sold 3,500 shares of the firm’s stock in a transaction dated 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 directly owns 92,117 shares in the company, valued at $3,939,844.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.49% of the stock is owned by corporate insiders.

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.