Joe Ford Buys 15,000 Shares of Westrock Coffee (NASDAQ:WEST) Stock

Westrock Coffee Company (NASDAQ:WEST) Director Joe Ford bought 15,000 shares of the stock in a transaction on Thursday, May 14th. The stock was purchased at an average price of $8.50 per share, with a total value of $127,500.00. Following the completion of the acquisition, the director directly owned 273,000 shares in the company, valued at approximately $2,320,500. This trade represents a 5.81% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Westrock Coffee Price Performance

Shares of WEST stock opened at $8.45 on Friday. Westrock Coffee Company has a twelve month low of $3.59 and a twelve month high of $8.98. The stock has a market capitalization of $818.63 million, a price-to-earnings ratio of -11.27 and a beta of 0.78. The stock has a fifty day simple moving average of $5.20 and a two-hundred day simple moving average of $4.69. The company has a current ratio of 0.97, a quick ratio of 0.48 and a debt-to-equity ratio of 37.87.

Westrock Coffee (NASDAQ:WEST) last issued its earnings results on Thursday, May 7th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.09. Westrock Coffee had a negative return on equity of 2,145.68% and a negative net margin of 5.59%.The business had revenue of $308.83 million during the quarter, compared to analysts’ expectations of $285.13 million. On average, analysts predict that Westrock Coffee Company will post -0.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WEST. Agman Capital LLC acquired a new position in Westrock Coffee during the 4th quarter valued at about $3,007,000. Millennium Management LLC increased its position in Westrock Coffee by 111.2% during the 4th quarter. Millennium Management LLC now owns 676,400 shares of the company’s stock valued at $2,753,000 after buying an additional 356,118 shares in the last quarter. Lee Danner & Bass Inc. acquired a new position in Westrock Coffee during the 1st quarter valued at about $1,203,000. CastleKnight Management LP increased its position in Westrock Coffee by 44.8% during the 4th quarter. CastleKnight Management LP now owns 575,000 shares of the company’s stock valued at $2,340,000 after buying an additional 178,020 shares in the last quarter. Finally, Piedmont Capital Management LLC NC acquired a new position in Westrock Coffee during the 4th quarter valued at about $645,000. 45.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wall Street Zen raised Westrock Coffee from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Stifel Nicolaus set a $8.00 price target on Westrock Coffee in a research report on Friday, May 8th. Telsey Advisory Group boosted their price target on Westrock Coffee from $7.00 to $9.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Benchmark boosted their price target on Westrock Coffee from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Finally, Weiss Ratings raised Westrock Coffee from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $9.00.

Westrock Coffee Company Profile

Westrock Coffee Company is a global integrated coffee roaster and manufacturer that delivers end-to-end solutions across the coffee and tea supply chain. The company sources, roasts, blends, packages and distributes a diverse range of products, including hot and cold brew coffee, single-serve pods, instant and soluble coffee, tea, and specialty coffee extracts. Serving retail, convenience, foodservice and industrial customers, Westrock Coffee offers both private-label and co-packed branded products to meet the needs of supermarkets, quick-service restaurants, office coffee services and other channels.

Since its founding in 2008, Westrock Coffee has grown through a combination of organic expansion and strategic acquisitions to establish manufacturing facilities across North America, Latin America and Europe.