Canal Capital Management Lowers stake in WestRock Co (WRK)

WestRock Co (WRK) : Canal Capital Management reduced its stake in WestRock Co by 1.72% during the most recent quarter end. The investment management company now holds a total of 41,835 shares of WestRock Co which is valued at $1,893,870 after selling 730 shares in WestRock Co , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.WestRock Co makes up approximately 1.93% of Canal Capital Management’s portfolio.

Other Hedge Funds, Including , Finemark National Bank Trust boosted its stake in WRK in the latest quarter, The investment management firm added 206 additional shares and now holds a total of 847 shares of WestRock Co which is valued at $38,344.New Mexico Educational Retirement Board boosted its stake in WRK in the latest quarter, The investment management firm added 1,000 additional shares and now holds a total of 29,435 shares of WestRock Co which is valued at $1,234,798. WestRock Co makes up approx 0.05% of New Mexico Educational Retirement Board’s portfolio.

WestRock Co closed down -0.47 points or -1.06% at $44 with 14,37,964 shares getting traded on Monday. Post opening the session at $44.79, the shares hit an intraday low of $43.95 and an intraday high of $44.87 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, WestRock Co reported $0.71 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.66. The company had revenue of $3596.50 million for the quarter, compared to analysts expectations of $3698.46 million. The company’s revenue was down -2.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.15 EPS.

Many Wall Street Analysts have commented on WestRock Co. Company shares were Reiterated by Barclays on Aug 11, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 45 from a previous price target of $41 .Company shares were Reiterated by Deutsche Bank on Aug 5, 2016 to “Buy”, Firm has raised the Price Target to $ 50 from a previous price target of $46 .

WestRock Company formerly Rome-Milan Holdings Inc. is a packaging company. The Company provides paper and packaging solutions in consumer and corrugated markets. The Company includes customers across the world from around 275 operating and business locations spanning North America South America Europe and Asia-Pacific. The Company’s products and services include consumer packaging corrugated packaging merchandising displays containerboard kraft paper pulp paperboard recycling and waste solutions and specialty paperboard. The Company’s consumer packaging includes the manufacturing of folding cartons and production of coated paperboard and serves markets such as printing and converting solid bleached sulfate and coated recycled board. Its corrugated packaging is engaged in the manufacturing of containerboard containers pre-print and microflute packaging retail displays and automated packaging systems. Rock-Tenn Company is a subsidiary of WestRock Co.

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