Covey Capital Advisors Lowers stake in WestRock Co (WRK)

WestRock Co (WRK) : Covey Capital Advisors reduced its stake in WestRock Co by 9.67% during the most recent quarter end. The investment management company now holds a total of 142,057 shares of WestRock Co which is valued at $6,317,275 after selling 15,200 shares in WestRock Co , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.WestRock Co makes up approximately 3.30% of Covey Capital Advisors’s portfolio.

Other Hedge Funds, Including , Princeton Alpha Management Lp sold out all of its stake in WRK during the most recent quarter. The investment firm sold 5,571 shares of WRK which is valued $245,570.Wright Investors Service Inc boosted its stake in WRK in the latest quarter, The investment management firm added 675 additional shares and now holds a total of 22,760 shares of WestRock Co which is valued at $954,782. WestRock Co makes up approx 0.38% of Wright Investors Service Inc’s portfolio. Joel Isaacson sold out all of its stake in WRK during the most recent quarter. The investment firm sold 1,638 shares of WRK which is valued $70,647.

WestRock Co closed down -0.16 points or -0.35% at $45.41 with 16,72,160 shares getting traded on Friday. Post opening the session at $45.22, the shares hit an intraday low of $44.625 and an intraday high of $45.74 and the price fluctuated in this range throughout the day.Shares ended Friday 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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