WestRock Company [WRK] President, Global Paper makes an insider purchase of 5,173 shares worth 0.22 million.

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. WestRock Company shares valued at $220,111 were sold by O’Neal John L on Aug 18. At $42.55 per share, O’Neal John L sold 5,173 shares. The insider’s holdings dropped to 46,305 shares worth approximately $1.52 million following the completion of this transaction.

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Also, Nevels James E sold 2,483 shares, netting a total of over 105,180 in proceeds. Following the sale of shares at $42.36 each, the insider now holds 14,326 shares.

Before that, Nevels James E had sold 1,417 shares from its account. In a trade valued at $59,953, the Director traded WestRock Company shares for $42.31 each. Upon closing the transaction, the insider’s holdings decreased to 1,417 shares, worth approximately $0.55 million.

As published in a research note from Citigroup on June 21, 2022, WestRock Company [WRK] has been rated down from a Buy to a Neutral and the price target has been revised to $45 from $53. This represents a 27.04% premium over Thursday’s closing price. Analysts at BofA Securities downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid January. As of November 01, 2021, Jefferies has decreased its “Buy” rating to a “Hold” for WRK. Earlier on October 13, 2021, Truist initiated its rating. Their recommendation was “a Hold” for WRK stock.

Analyzing WRK’s Price Performance

On Thursday, WestRock Company [NYSE: WRK] plunged -2.32% to $32.83. The stock’s lowest price that day was $32.675, but it reached a high of $33.81 in the same session. During the last five days, there has been a drop of approximately -14.90%. Over the course of the year, WestRock Company shares have dropped approximately -25.99%. Shares of the company reached a 52-week high of $54.78 on 05/05/22 and a 52-week low of $32.67 on 09/22/22. A 50-day SMA is recorded $40.33, while a 200-day SMA reached $44.38. Nevertheless, trading volume fell to 2.52 million shares from 2.09 million shares the previous day.

Support And Resistance Levels for WestRock Company (WRK)

According to the 24-hour chart, there is a support level at 32.40, which, if violated, would cause prices to drop to 31.97. In the upper region, resistance lies at 33.54. The next price resistance is at 34.24. RSI (Relative Strength Index) is 28.43 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.21, which suggests the price will decrease in the coming days. Percent R is at 98.30%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is WestRock Company subject to short interest?

Stocks of WestRock Company saw a sharp steep in short interest on Jul 14, 2022 dropping by 20000.0 shares to 3.06 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 3.08 million shares. A decline of -0.65% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.46 of the overall float, the days-to-cover ratio (short ratio) decline to 1.46.

Which companies own the most shares of WestRock Company (WRK)?

According to The Vanguard Group, Inc. filings, the company currently owns 29,431,150 shares, which is about 11.57% of the total WRK shares outstanding. The investor’s shares have plunged by -102,961 from its previous 13-F filing of 29534111.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $675,660,288. SSgA Funds Management, Inc. reduced a -22.69% interest valued at $450.93 million while Greenhaven Associates, Inc. purchased a 1,652,804 stake. A total of 153,752 shares of WestRock Company were bought by Pictet Asset Management SA during the quarter, and -1,317,633 were sold by Nordea Investment Management AB. In its current portfolio, Norges Bank Investment Management holds 5,922,221 shares valued at $240.38 million.

In terms of WestRock Company share price expectations, FactSet research, analysts set an average price target of $50.58 in the next 12 months, up nearly 42.81% from the previous closing price of $33.61. Analysts anticipate WestRock Company stock to reach $65.00 by 2022, with the lowest price target being $36.00. In spite of this, 14 analysts ranked WestRock Company stock as an Overweight at the end of 2022. On January 13, 2021, UBS assigned a price target of “a Buy” to the stock and initiated coverage with a $59.


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