Fintel reports that on September 21, 2023, Truist Securities maintained coverage of WestRock (NYSE:WRK) with a Hold recommendation.
Analyst Price Forecast Suggests 8.17% Upside
As of August 31, 2023, the average one-year price target for WestRock is 38.02. The forecasts range from a low of 29.29 to a high of $47.25. The average price target represents an increase of 8.17% from its latest reported closing price of 35.15.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for WestRock is 21,511MM, an increase of 3.80%. The projected annual non-GAAP EPS is 3.92.
WestRock Declares $0.28 Dividend
On July 28, 2023 the company declared a regular quarterly dividend of $0.28 per share ($1.10 annualized). Shareholders of record as of August 10, 2023 received the payment on August 24, 2023. Previously, the company paid $0.28 per share.
At the current share price of $35.15 / share, the stock's dividend yield is 3.13%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.29%, the lowest has been 1.39%, and the highest has been 8.26%. The standard deviation of yields is 1.36 (n=236).
The current dividend yield is 0.12 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is -0.20. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.38%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1191 funds or institutions reporting positions in WestRock. This is a decrease of 70 owner(s) or 5.55% in the last quarter. Average portfolio weight of all funds dedicated to WRK is 0.16%, a decrease of 3.08%. Total shares owned by institutions increased in the last three months by 0.59% to 239,229K shares. 
The put/call ratio of WRK is 0.30, indicating a bullish outlook.
What are Other Shareholders Doing?
Greenhaven Associates holds 13,561K shares representing 5.29% ownership of the company. In it's prior filing, the firm reported owning 12,687K shares, representing an increase of 6.45%. The firm decreased its portfolio allocation in WRK by 12.74% over the last quarter.
Price T Rowe Associates holds 10,754K shares representing 4.19% ownership of the company. In it's prior filing, the firm reported owning 9,319K shares, representing an increase of 13.34%. The firm increased its portfolio allocation in WRK by 131.21% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,954K shares representing 3.10% ownership of the company. In it's prior filing, the firm reported owning 7,889K shares, representing an increase of 0.82%. The firm decreased its portfolio allocation in WRK by 11.25% over the last quarter.
Pictet Asset Management holds 7,740K shares representing 3.02% ownership of the company. In it's prior filing, the firm reported owning 4,156K shares, representing an increase of 46.30%. The firm increased its portfolio allocation in WRK by 189.48% over the last quarter.
DVY - iShares Select Dividend ETF holds 6,426K shares representing 2.51% ownership of the company. In it's prior filing, the firm reported owning 4,218K shares, representing an increase of 34.36%. The firm increased its portfolio allocation in WRK by 28.58% over the last quarter.
WestRock Background Information
(This description is provided by the company.)
WestRock (NYSE: WRK) partners with our customers to provide differentiated paper and packaging solutions that help them win in the marketplace. WestRock's team members support customers around the world from locations spanning North America, South America, Europe, Asia and Australia.
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This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
