BlackRock Inc. Makes New $22.50 Million Investment in Westrock Coffee Company $WEST

BlackRock Inc. bought a new stake in shares of Westrock Coffee Company (NASDAQ:WEST) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,774,331 shares of the company’s stock, valued at approximately $22,500,000.

Other institutional investors have also added to or reduced their stakes in the company. Group One Trading LLC bought a new stake in shares of Westrock Coffee in the 1st quarter worth approximately $26,000. EverSource Wealth Advisors LLC lifted its position in Westrock Coffee by 199.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,214 shares of the company’s stock valued at $36,000 after acquiring an additional 4,136 shares during the period. BNP Paribas Financial Markets boosted its stake in Westrock Coffee by 79.2% during the third 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 in the last quarter. Waterloo Capital L.P. bought a new stake in Westrock Coffee during the fourth quarter worth about $43,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in Westrock Coffee in the fourth quarter worth about $47,000. Hedge funds and other institutional investors own 45.08% of the company’s stock.

Wall Street Analyst Weigh In

WEST has been the subject of a number of analyst reports. Telsey Advisory Group raised their target price on shares of Westrock Coffee from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 19th. Benchmark restated a “buy” rating on shares of Westrock Coffee in a research note on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Westrock Coffee in a research report on Tuesday, August 4th. Zacks Research upgraded Westrock Coffee from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Stifel Nicolaus set a $9.00 target price on Westrock Coffee in a report on Friday, August 7th. 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 MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $10.00.

Westrock Coffee Stock Performance

Shares of WEST stock opened at $7.84 on Thursday. The company has a market capitalization of $765.42 million, a price-to-earnings ratio of -11.88 and a beta of 0.89. Westrock Coffee Company has a one year low of $3.59 and a one year high of $10.19. The company’s 50-day moving average is $7.93 and its 200 day moving average is $6.76.

Westrock Coffee (NASDAQ:WEST) last issued its earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The firm had revenue of $305.66 million during the quarter, compared to analysts’ expectations of $318.80 million. Westrock Coffee had a negative return on equity of 2,145.68% and a negative net margin of 4.88%. As a group, research analysts predict that Westrock Coffee Company will post -0.22 earnings per share for the current fiscal year.

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.