DAVENPORT & Co LLC Has $1.67 Million Stock Position in Westrock Coffee (NASDAQ:WEST)

DAVENPORT & Co LLC lifted its stake in Westrock Coffee (NASDAQ:WEST) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 163,640 shares of the company’s stock after acquiring an additional 4,965 shares during the quarter. DAVENPORT & Co LLC owned approximately 0.19% of Westrock Coffee worth $1,671,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of WEST. Silverleafe Capital Partners LLC acquired a new stake in shares of Westrock Coffee in the 3rd quarter valued at $36,640,000. FMR LLC grew its stake in shares of Westrock Coffee by 30.0% in the 3rd quarter. FMR LLC now owns 1,640,254 shares of the company’s stock valued at $14,533,000 after buying an additional 378,866 shares during the period. Raymond James & Associates boosted its stake in Westrock Coffee by 70.0% during the 3rd quarter. Raymond James & Associates now owns 272,544 shares of the company’s stock valued at $2,415,000 after purchasing an additional 112,254 shares during the last quarter. Northern Trust Corp lifted its position in shares of Westrock Coffee by 14.1% during the 3rd quarter. Northern Trust Corp now owns 256,307 shares of the company’s stock worth $2,271,000 after buying an additional 31,686 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Westrock Coffee by 75.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 225,920 shares of the company’s stock worth $2,002,000 after purchasing an additional 97,233 shares during the period. Institutional investors and hedge funds own 45.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Stifel Nicolaus boosted their price target on shares of Westrock Coffee from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, December 15th. Telsey Advisory Group upped their price objective on shares of Westrock Coffee from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Finally, Benchmark increased their price target on shares of Westrock Coffee from $11.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, March 13th.

Westrock Coffee Price Performance

Shares of NASDAQ:WEST opened at $10.13 on Friday. Westrock Coffee has a 52 week low of $6.88 and a 52 week high of $12.90. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.31 and a quick ratio of 0.68. The firm has a fifty day simple moving average of $10.11 and a two-hundred day simple moving average of $9.53.

Westrock Coffee (NASDAQ:WEST) last announced its quarterly earnings data on Tuesday, March 12th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). Westrock Coffee had a negative net margin of 4.05% and a negative return on equity of 41.02%. The company had revenue of $214.97 million for the quarter, compared to the consensus estimate of $222.20 million. As a group, sell-side analysts predict that Westrock Coffee will post -0.05 earnings per share for the current year.

Westrock Coffee Profile

Westrock Coffee Company, LLC operates as an integrated coffee, tea, flavors, extracts, and ingredients solutions provider in the United States and internationally. It operates through two segments, Beverage Solutions, and Sustainable Sourcing & Traceability (SS&T). The Beverage Solutions segment provides various packaging, including branded and private label coffee in bags, fractional packs, and single serve cups, as well as extract solutions for applications in cold brew and ready-to-drink offerings.