WestRock said on April 28, 2023 that its board of directors declared a regular quarterly dividend of $0.28 per share ($1.10 annualized). Previously, the company paid $0.28 per share.
Shares must be purchased before the ex-div date of May 10, 2023 to qualify for the dividend. Shareholders of record as of May 11, 2023 will receive the payment on May 25, 2023.
At the current share price of $29.93 / share, the stock's dividend yield is 3.68%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.25%, the lowest has been 1.39%, and the highest has been 8.26%. The standard deviation of yields is 1.36 (n=237).
The current dividend yield is 0.32 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.35. 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 -0.41%.
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What is the Fund Sentiment?
There are 1287 funds or institutions reporting positions in WestRock. This is an increase of 21 owner(s) or 1.66% in the last quarter. Average portfolio weight of all funds dedicated to WRK is 0.19%, an increase of 0.58%. Total shares owned by institutions increased in the last three months by 0.95% to 240,647K shares. 
The put/call ratio of WRK is 0.51, indicating a bullish outlook.
Analyst Price Forecast Suggests 27.15% Upside
As of April 24, 2023, the average one-year price target for WestRock is 38.06. The forecasts range from a low of 32.32 to a high of $52.50. The average price target represents an increase of 27.15% from its latest reported closing price of 29.93.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for WestRock is 21,511MM, an increase of 1.34%. The projected annual non-GAAP EPS is 3.92.
What are Other Shareholders Doing?
Greenhaven Associates holds 12,687K shares representing 4.98% ownership of the company. In it's prior filing, the firm reported owning 9,935K shares, representing an increase of 21.69%. The firm decreased its portfolio allocation in WRK by 3.25% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,744K shares representing 3.04% ownership of the company. In it's prior filing, the firm reported owning 7,604K shares, representing an increase of 1.81%. The firm increased its portfolio allocation in WRK by 7.05% over the last quarter.
Invesco holds 6,075K shares representing 2.39% ownership of the company. In it's prior filing, the firm reported owning 4,163K shares, representing an increase of 31.47%. The firm increased its portfolio allocation in WRK by 51.15% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 5,917K shares representing 2.32% ownership of the company. In it's prior filing, the firm reported owning 5,880K shares, representing an increase of 0.63%. The firm increased its portfolio allocation in WRK by 5.22% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 5,879K shares representing 2.31% ownership of the company. In it's prior filing, the firm reported owning 5,762K shares, representing an increase of 2.00%. The firm increased its portfolio allocation in WRK by 7.00% 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.
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.
