Joe T. Ford Acquires 25,000 Shares of Westrock Coffee (NASDAQ:WEST) Stock

Westrock Coffee (NASDAQ:WEST) Director Joe T. Ford bought 25,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was bought at an average price of $7.44 per share, with a total value of $186,000.00. Following the completion of the purchase, the director now directly owns 371,445 shares in the company, valued at $2,763,550.80. This represents a 7.22% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Westrock Coffee Stock Performance

Shares of NASDAQ WEST opened at $7.84 on Friday. The company has a current ratio of 1.39, a quick ratio of 0.73 and a debt-to-equity ratio of 3.41. Westrock Coffee has a 12 month low of $5.28 and a 12 month high of $10.77. The company has a 50 day simple moving average of $6.38 and a two-hundred day simple moving average of $6.64. The stock has a market cap of $738.75 million, a price-to-earnings ratio of -9.12 and a beta of 0.49.

Westrock Coffee (NASDAQ:WEST) last posted its earnings results on Thursday, May 8th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.05). The firm had revenue of $213.80 million for the quarter, compared to analysts’ expectations of $213.85 million. Westrock Coffee had a negative net margin of 9.05% and a negative return on equity of 20.72%. As a group, analysts predict that Westrock Coffee will post -0.3 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on WEST shares. Telsey Advisory Group reiterated an “outperform” rating and issued a $9.00 target price on shares of Westrock Coffee in a research note on Tuesday, May 6th. Stifel Nicolaus lowered their target price on shares of Westrock Coffee from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Finally, Benchmark restated a “buy” rating and set a $10.00 price objective on shares of Westrock Coffee in a research note on Wednesday, April 16th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $10.40.

Hedge Funds Weigh In On Westrock Coffee

Several institutional investors have recently made changes to their positions in WEST. Millennium Management LLC increased its holdings in shares of Westrock Coffee by 198.9% during the 4th quarter. Millennium Management LLC now owns 589,450 shares of the company’s stock valued at $3,784,000 after purchasing an additional 392,214 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Westrock Coffee by 7.7% during the 4th quarter. Vanguard Group Inc. now owns 2,812,993 shares of the company’s stock valued at $18,059,000 after purchasing an additional 199,939 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Westrock Coffee during the 4th quarter valued at approximately $840,000. Nuveen LLC purchased a new position in shares of Westrock Coffee during the 1st quarter valued at approximately $680,000. Finally, Stephens Inc. AR increased its holdings in shares of Westrock Coffee by 54.8% during the 4th quarter. Stephens Inc. AR now owns 236,364 shares of the company’s stock valued at $1,517,000 after purchasing an additional 83,647 shares in the last quarter. 45.08% of the stock is owned by hedge funds and other institutional investors.

About Westrock Coffee

Westrock Coffee Company, LLC operates as an integrated coffee, tea, flavors, extracts, and ingredients solutions provider in the United States and internationally. It operates through two segments, Beverage Solutions, and Sustainable Sourcing & Traceability (SS&T). The Beverage Solutions segment provides various packaging, including branded and private label coffee in bags, fractional packs, and single serve cups, as well as extract solutions for applications in cold brew and ready-to-drink offerings.