Stephens Group LLC lessened its holdings in Westrock Coffee Company (NASDAQ:WEST – Free Report) by 9.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,347,871 shares of the company’s stock after selling 762,172 shares during the period. Westrock Coffee comprises approximately 28.9% of Stephens Group LLC’s holdings, making the stock its 2nd biggest position. Stephens Group LLC owned approximately 0.08% of Westrock Coffee worth $59,591,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in WEST. Group One Trading LLC bought a new stake in Westrock Coffee during the first quarter valued at approximately $26,000. EverSource Wealth Advisors LLC raised its position in Westrock Coffee by 199.0% in the second quarter. EverSource Wealth Advisors LLC now owns 6,214 shares of the company’s stock worth $36,000 after acquiring an additional 4,136 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Westrock Coffee by 79.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,782 shares of the company’s stock worth $38,000 after acquiring an additional 3,439 shares during the last quarter. Waterloo Capital L.P. purchased a new position in shares of Westrock Coffee during the 4th quarter worth $43,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Westrock Coffee during the 4th quarter valued at $47,000. Hedge funds and other institutional investors own 45.08% of the company’s stock.
Westrock Coffee Stock Performance
WEST opened at $8.16 on Tuesday. The stock has a market cap of $790.53 million, a price-to-earnings ratio of -12.36 and a beta of 0.90. The firm’s fifty day moving average is $8.09 and its 200 day moving average is $6.36. Westrock Coffee Company has a fifty-two week low of $3.59 and a fifty-two week high of $10.19.
Insider Buying and Selling at Westrock Coffee
In other Westrock Coffee news, Director Joe T. Ford bought 15,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average price of $8.50 per share, for a total transaction of $127,500.00. Following the completion of the transaction, the director owned 273,000 shares of the company’s stock, valued at $2,320,500. This trade represents a 5.81% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders bought a total of 34,500 shares of company stock valued at $290,715 over the last three months. Corporate insiders own 25.40% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on WEST shares. Benchmark upped their price objective on Westrock Coffee from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Zacks Research upgraded Westrock Coffee from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. Stifel Nicolaus set a $9.00 price target on Westrock Coffee in a report on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of Westrock Coffee in a research report on Tuesday, August 4th. Finally, Telsey Advisory Group upped their price target on Westrock Coffee from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Friday. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $9.67.
Get Our Latest Analysis on WEST
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.
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