California Public Employees Retirement System Sells 12,209 Shares of WestRock (NYSE:WRK)

California Public Employees Retirement System cut its holdings in WestRock (NYSE:WRK) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 496,807 shares of the basic materials company’s stock after selling 12,209 shares during the period. California Public Employees Retirement System’s holdings in WestRock were worth $20,627,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WRK. CWM LLC raised its position in WestRock by 17.4% in the third quarter. CWM LLC now owns 2,936 shares of the basic materials company’s stock worth $105,000 after acquiring an additional 436 shares during the period. AE Wealth Management LLC raised its position in WestRock by 77.2% in the third quarter. AE Wealth Management LLC now owns 16,761 shares of the basic materials company’s stock worth $600,000 after acquiring an additional 7,300 shares during the period. Exchange Traded Concepts LLC raised its position in WestRock by 28.0% in the third quarter. Exchange Traded Concepts LLC now owns 2,114 shares of the basic materials company’s stock worth $76,000 after acquiring an additional 463 shares during the period. Czech National Bank raised its position in WestRock by 47.7% in the third quarter. Czech National Bank now owns 44,792 shares of the basic materials company’s stock worth $1,604,000 after acquiring an additional 14,472 shares during the period. Finally, Asset Management One Co. Ltd. raised its position in shares of WestRock by 0.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 99,815 shares of the basic materials company’s stock valued at $3,573,000 after purchasing an additional 350 shares during the period. 83.38% of the stock is currently owned by institutional investors.

WestRock Stock Up 0.9 %

Shares of NYSE WRK opened at $47.25 on Monday. The company has a current ratio of 1.55, a quick ratio of 0.95 and a debt-to-equity ratio of 0.81. The firm’s fifty day moving average is $47.18 and its two-hundred day moving average is $42.38. WestRock has a 52-week low of $26.85 and a 52-week high of $49.67.

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 analysts’ consensus estimates of $0.35 by ($0.15). The company 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 business’s revenue was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 earnings per share. On average, analysts forecast that WestRock will post 1.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on WRK. Truist Financial raised their price objective on shares of WestRock from $40.00 to $48.00 and gave the company a “hold” rating in a research report on Thursday, January 4th. Seaport Res Ptn downgraded shares of WestRock from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Wells Fargo & Company restated an “equal weight” rating and set a $45.00 price objective (up from $42.00) on shares of WestRock in a research report on Thursday, January 11th. StockNews.com began coverage on shares of WestRock in a research report on Wednesday, April 24th. They set a “hold” rating on the stock. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $42.00 price objective on shares of WestRock in a research report on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $43.00.

Insider Buying and Selling at WestRock

In other WestRock news, insider Vicki L. Lostetter sold 3,500 shares of WestRock stock in a transaction on Monday, February 12th. The shares were sold at an average price of $42.77, for a total value of $149,695.00. Following the sale, the insider now directly owns 92,117 shares in the company, valued at approximately $3,939,844.09. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.49% of the stock is currently owned by 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.