Westrock Coffee (NASDAQ:WEST) Posts Quarterly Earnings Results, Meets Estimates

Westrock Coffee (NASDAQ:WEST) announced its quarterly earnings data on Thursday. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05), Zacks reports. The business had revenue of $354.83 million for the quarter, compared to the consensus estimate of $281.54 million. Westrock Coffee had a negative return on equity of 78.05% and a negative net margin of 8.58%.

Westrock Coffee Trading Down 1.3%

Shares of NASDAQ WEST traded down $0.05 during trading hours on Friday, hitting $3.87. 1,284,510 shares of the company traded hands, compared to its average volume of 374,475. The company’s 50 day moving average price is $4.87 and its 200 day moving average price is $5.94. Westrock Coffee has a 12 month low of $3.59 and a 12 month high of $8.29. The stock has a market capitalization of $366.53 million, a price-to-earnings ratio of -3.95 and a beta of 0.47. The company has a current ratio of 1.04, a quick ratio of 0.50 and a debt-to-equity ratio of 23.42.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wall Street Zen upgraded Westrock Coffee from a “sell” rating to a “hold” rating in a research note on Friday, August 22nd. Telsey Advisory Group dropped their target price on shares of Westrock Coffee from $10.00 to $7.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Westrock Coffee in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $9.00.

Insider Buying and Selling

In other news, Director Joe T. Ford acquired 5,000 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were acquired at an average price of $5.30 per share, for a total transaction of $26,500.00. Following the completion of the transaction, the director directly owned 413,916 shares of the company’s stock, valued at approximately $2,193,754.80. The trade was a 1.22% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 27.70% of the stock is owned by insiders.

Institutional Trading of Westrock Coffee

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in 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 purchasing an additional 14,707 shares during the last quarter. Engineers Gate Manager LP lifted its stake in shares of Westrock Coffee by 13.7% during the 2nd quarter. Engineers Gate Manager LP now owns 35,215 shares of the company’s stock worth $202,000 after acquiring an additional 4,239 shares during the last quarter. Jane Street Group LLC boosted its holdings in Westrock Coffee by 1,019.7% during the 2nd quarter. Jane Street Group LLC now owns 116,451 shares of the company’s stock valued at $667,000 after acquiring an additional 106,051 shares during the period. Raymond James Financial Inc. grew its position in Westrock Coffee by 30.6% in the 2nd quarter. Raymond James Financial Inc. now owns 151,046 shares of the company’s stock valued at $865,000 after acquiring an additional 35,365 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in Westrock Coffee in the second quarter worth $104,000. 45.08% of the stock is owned by hedge funds and other institutional investors.

Westrock Coffee Company 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.