Silverleafe Capital Partners LLC lowered its holdings in Westrock Coffee Company (NASDAQ:WEST – Free Report) by 63.3% during the third quarter, HoldingsChannel.com reports. The fund owned 355,156 shares of the company’s stock after selling 613,061 shares during the period. Westrock Coffee accounts for about 0.8% of Silverleafe Capital Partners LLC’s portfolio, making the stock its 28th biggest position. Silverleafe Capital Partners LLC’s holdings in Westrock Coffee were worth $2,855,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new position in Westrock Coffee during the 2nd quarter valued at about $22,500,000. Agman Capital LLC acquired a new stake in Westrock Coffee in the fourth quarter worth approximately $3,007,000. Algert Global LLC bought a new position in Westrock Coffee during the second quarter valued at about $2,816,000. Piedmont Capital Management LLC NC bought a new position in shares of Westrock Coffee during the 4th quarter valued at about $645,000. Finally, Jupiter Topco LLC bought a new stake in Westrock Coffee during the second quarter worth approximately $1,656,000. Institutional investors and hedge funds own 45.08% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on WEST. Telsey Advisory Group increased their price target on Westrock Coffee from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Wednesday, August 19th. Stifel Nicolaus set a $9.00 price target on shares of Westrock Coffee in a report on Friday, August 7th. Benchmark restated a “buy” rating on shares of Westrock Coffee in a report on Monday, August 31st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Westrock Coffee in a report on Tuesday, August 4th. Three equities 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. According to data from MarketBeat.com, Westrock Coffee has an average rating of “Hold” and an average price target of $10.00.
Westrock Coffee Stock Up 1.8%
Shares of NASDAQ:WEST traded up $0.14 during trading on Friday, reaching $8.14. The stock had a trading volume of 338,972 shares, compared to its average volume of 497,743. 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 $794.68 million, a price-to-earnings ratio of -12.33 and a beta of 0.88. The stock has a fifty day simple moving average of $8.04 and a two-hundred day simple moving average of $7.27.
Westrock Coffee (NASDAQ:WEST – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). Westrock Coffee had a negative return on equity of 2,145.68% and a negative net margin of 4.88%.The firm had revenue of $305.66 million during the quarter, compared to analyst estimates of $318.80 million. On average, analysts forecast that Westrock Coffee Company will post -0.22 EPS for the current year.
About Westrock Coffee
Westrock Coffee Company (NASDAQ: WEST) is a global provider of integrated coffee, tea, flavor, extract and ready-to-drink beverage solutions. The company sources, develops, manufactures and distributes beverage products for businesses seeking customized offerings and end-to-end supply-chain support.
Its products and services include roasted and soluble coffee, tea, ready-to-drink beverages, flavors, extracts and related ingredients. Westrock Coffee also provides beverage equipment, brewing systems, packaging, product development and logistics services.
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