Westrock Coffee (NASDAQ:WEST) Director Joe Ford Buys 3,000 Shares

Westrock Coffee Company (NASDAQ:WEST) Director Joe Ford bought 3,000 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were bought at an average price of $8.04 per share, with a total value of $24,120.00. Following the completion of the transaction, the director owned 544,916 shares in the company, valued at approximately $4,381,124.64. This trade represents a 0.55% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Westrock Coffee Price Performance

Shares of NASDAQ:WEST traded down $0.51 during trading on Tuesday, reaching $7.99. 652,196 shares of the company traded hands, compared to its average volume of 1,038,231. The company’s 50 day moving average is $6.10 and its two-hundred day moving average is $4.99. The firm has a market capitalization of $774.45 million, a PE ratio of -11.21 and a beta of 0.78. 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 $8.98.

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

Institutional Trading of Westrock Coffee

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

Analysts Set New Price Targets

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