Algert Global LLC bought a new position in shares of Westrock Coffee Company (NASDAQ:WEST – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 347,241 shares of the company’s stock, valued at approximately $2,816,000.
Several other large investors have also made changes to their positions in WEST. AQR Capital Management LLC acquired a new stake in Westrock Coffee during the 1st quarter valued at $166,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Westrock Coffee by 10.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,292 shares of the company’s stock worth $154,000 after purchasing an additional 2,003 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Westrock Coffee by 8.1% during the second quarter. Rhumbline Advisers now owns 49,510 shares of the company’s stock worth $284,000 after purchasing an additional 3,723 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Westrock Coffee by 199.0% in the second quarter. EverSource Wealth Advisors LLC now owns 6,214 shares of the company’s stock valued at $36,000 after buying an additional 4,136 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Westrock Coffee during the 2nd quarter worth about $104,000. Institutional investors own 45.08% of the company’s stock.
Westrock Coffee Stock Performance
Shares of WEST opened at $8.00 on Friday. The stock has a 50 day simple moving average of $8.02 and a 200 day simple moving average of $6.69. Westrock Coffee Company has a 52-week low of $3.59 and a 52-week high of $10.19. The firm has a market capitalization of $781.04 million, a PE ratio of -12.12 and a beta of 0.90.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on WEST. Telsey Advisory Group upped their target price on shares of Westrock Coffee from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 19th. Stifel Nicolaus set a $9.00 price objective on shares of Westrock Coffee in a research report on Friday, August 7th. Zacks Research raised Westrock Coffee from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Benchmark boosted their price objective on Westrock Coffee from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Westrock Coffee in a research report on Tuesday, August 4th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Westrock Coffee has an average rating of “Hold” and a consensus target price of $10.00.
Check Out Our Latest Report 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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