Piedmont Capital Management LLC NC Invests $645,000 in Westrock Coffee Company $WEST

Piedmont Capital Management LLC NC bought a new position in Westrock Coffee Company (NASDAQ:WEST) during the 4th quarter, Holdings Channel.com reports. The fund bought 158,354 shares of the company’s stock, valued at approximately $645,000.

Several other hedge funds have also recently modified their holdings of the stock. NFC Investments LLC lifted its holdings in shares of Westrock Coffee by 2.0% in the third quarter. NFC Investments LLC now owns 4,089,711 shares of the company’s stock worth $19,876,000 after buying an additional 81,730 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Westrock Coffee by 0.5% in the third quarter. Vanguard Group Inc. now owns 2,984,114 shares of the company’s stock worth $14,503,000 after buying an additional 14,707 shares in the last quarter. Agman Capital LLC purchased a new position in shares of Westrock Coffee in the fourth quarter worth $3,007,000. Millennium Management LLC lifted its holdings in shares of Westrock Coffee by 4.1% in the third quarter. Millennium Management LLC now owns 320,282 shares of the company’s stock worth $1,557,000 after buying an additional 12,728 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Westrock Coffee by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 294,987 shares of the company’s stock valued at $1,201,000 after purchasing an additional 6,725 shares in the last quarter. Hedge funds and other institutional investors own 45.08% of the company’s stock.

Insider Buying and Selling at Westrock Coffee

In other news, Director Joe T. Ford bought 15,000 shares of Westrock Coffee stock in a transaction dated Thursday, May 14th. The shares were acquired at an average price of $8.50 per share, with a total value of $127,500.00. Following the completion of the purchase, the director owned 273,000 shares in the company, valued at $2,320,500. The trade was a 5.81% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have acquired a total of 89,500 shares of company stock valued at $543,715 over the last quarter. Corporate insiders own 25.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Benchmark upped their price target on shares of Westrock Coffee from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Wall Street Zen raised shares of Westrock Coffee from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Stifel Nicolaus set a $8.00 price target on shares of Westrock Coffee in a research note on Friday, May 8th. Telsey Advisory Group upped their price target on shares of Westrock Coffee from $7.00 to $9.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, Zacks Research raised shares of Westrock Coffee from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $9.00.

Westrock Coffee Price Performance

Westrock Coffee stock opened at $9.50 on Monday. The company has a market cap of $920.36 million, a price-to-earnings ratio of -12.67 and a beta of 0.90. The firm’s fifty day moving average is $6.86 and its 200 day moving average is $5.25. The company has a quick ratio of 0.46, a current ratio of 0.97 and a debt-to-equity ratio of 37.87. Westrock Coffee Company has a 52-week low of $3.59 and a 52-week high of $9.81.

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

About Westrock Coffee

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.