Starboard Value Lp buys $228,631,743 stake in WestRock Co (WRK)

WestRock Co (WRK) : Starboard Value Lp scooped up 575,000 additional shares in WestRock Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 5,141,258 shares of WestRock Co which is valued at $228,631,743.WestRock Co makes up approximately 8.95% of Starboard Value Lp’s portfolio.

Other Hedge Funds, Including , Two Sigma Investments Lp reduced its stake in WRK by selling 7,900 shares or 57.83% in the most recent quarter. The Hedge Fund company now holds 5,760 shares of WRK which is valued at $256,147.United Services Automobile Association boosted its stake in WRK in the latest quarter, The investment management firm added 404 additional shares and now holds a total of 80,321 shares of WestRock Co which is valued at $3,571,875. WestRock Co makes up approx 0.01% of United Services Automobile Association’s portfolio.Cetera Advisors boosted its stake in WRK in the latest quarter, The investment management firm added 9,161 additional shares and now holds a total of 20,326 shares of WestRock Co which is valued at $903,897. WestRock Co makes up approx 0.07% of Cetera Advisors’s portfolio.Financial Architects Inc boosted its stake in WRK in the latest quarter, The investment management firm added 996 additional shares and now holds a total of 1,044 shares of WestRock Co which is valued at $45,143. WestRock Co makes up approx 0.01% of Financial Architects Inc’s portfolio.

WestRock Co opened for trading at $48.01 and hit $48.56 on the upside on Thursday, eventually ending the session at $48.51, with a gain of 1.27% or 0.61 points. The heightened volatility saw the trading volume jump to 17,54,701 shares. Company has a market cap of $12,200 M.

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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