Westrock Coffee (NASDAQ:WEST) Director Joe Ford Buys 8,500 Shares

Westrock Coffee Company (NASDAQ:WEST) Director Joe Ford acquired 8,500 shares of the stock in a transaction dated Wednesday, May 13th. The shares were bought at an average cost of $8.43 per share, for a total transaction of $71,655.00. Following the completion of the transaction, the director owned 258,000 shares in the company, valued at approximately $2,174,940. This represents a 3.41% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Westrock Coffee Price Performance

NASDAQ WEST traded up $0.09 during trading hours on Friday, reaching $8.45. The company’s stock had a trading volume of 816,764 shares, compared to its average volume of 466,167. The firm’s 50-day moving average price is $5.11 and its 200-day moving average price is $4.66. The company has a quick ratio of 0.48, a current ratio of 0.97 and a debt-to-equity ratio of 37.87. Westrock Coffee Company has a 1 year low of $3.59 and a 1 year high of $8.98. The company has a market capitalization of $818.64 million, a price-to-earnings ratio of -11.27 and a beta of 0.78.

Westrock Coffee (NASDAQ:WEST) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.09. The company had revenue of $308.83 million for the quarter, compared to analysts’ expectations of $285.13 million. Westrock Coffee had a negative return on equity of 2,145.68% and a negative net margin of 5.59%. On average, equities research analysts predict that Westrock Coffee Company will post -0.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Telsey Advisory Group boosted 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. Stifel Nicolaus set a $8.00 target price on Westrock Coffee in a research report on Friday, May 8th. Wall Street Zen raised Westrock Coffee from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Weiss Ratings raised Westrock Coffee from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. Finally, Zacks Research raised Westrock Coffee from a “strong sell” rating to a “hold” rating in a research report on Monday. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $9.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC acquired a new position in shares of Westrock Coffee in the first quarter valued at about $166,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Westrock Coffee by 10.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,292 shares of the company’s stock valued at $154,000 after purchasing an additional 2,003 shares during the period. Rhumbline Advisers increased its holdings in shares of Westrock Coffee by 8.1% in the second quarter. Rhumbline Advisers now owns 49,510 shares of the company’s stock valued at $284,000 after purchasing an additional 3,723 shares during the period. EverSource Wealth Advisors LLC increased its holdings 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 purchasing an additional 4,136 shares during the period. Finally, Marshall Wace LLP acquired a new position in shares of Westrock Coffee in the second quarter valued at about $104,000. 45.08% of the stock is owned by institutional investors and hedge funds.

About Westrock Coffee

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.