Joe Ford Acquires 45,000 Shares of Westrock Coffee (NASDAQ:WEST) Stock

Westrock Coffee Company (NASDAQ:WEST) Director Joe Ford acquired 45,000 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average price of $3.92 per share, for a total transaction of $176,400.00. Following the completion of the acquisition, the director owned 478,916 shares of the company’s stock, valued at $1,877,350.72. This trade represents a 10.37% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Westrock Coffee Stock Up 6.1%

WEST traded up $0.26 during trading on Monday, hitting $4.52. The company had a trading volume of 624,905 shares, compared to its average volume of 338,483. The company has a market capitalization of $437.63 million, a PE ratio of -4.76 and a beta of 0.50. The company has a quick ratio of 0.48, a current ratio of 0.96 and a debt-to-equity ratio of 37.87. Westrock Coffee Company has a one year low of $3.59 and a one year high of $7.92. The firm’s 50-day moving average price is $4.55 and its 200 day moving average price is $4.57.

Westrock Coffee (NASDAQ:WEST) last released its earnings results on Tuesday, March 10th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.11). Westrock Coffee had a negative return on equity of 233.53% and a negative net margin of 7.61%.The firm had revenue of $339.47 million for the quarter, compared to the consensus estimate of $317.40 million. As a group, equities analysts expect that Westrock Coffee Company will post -0.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Telsey Advisory Group reiterated an “outperform” rating and set a $7.00 price objective on shares of Westrock Coffee in a report on Monday, March 9th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Westrock Coffee in a research report on Wednesday, January 21st. Stifel Nicolaus decreased their price target on shares of Westrock Coffee from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, March 11th. Finally, Wall Street Zen upgraded shares of Westrock Coffee from a “sell” rating to a “hold” rating in a report on Saturday. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Westrock Coffee presently has an average rating of “Moderate Buy” and a consensus target price of $8.00.

Hedge Funds Weigh In On Westrock Coffee

Several hedge funds have recently modified their holdings of WEST. Agman Capital LLC acquired a new stake in shares of Westrock Coffee in the fourth quarter valued at about $3,007,000. Millennium Management LLC boosted its position in Westrock Coffee by 111.2% during the fourth quarter. Millennium Management LLC now owns 676,400 shares of the company’s stock valued at $2,753,000 after purchasing an additional 356,118 shares during the last quarter. CastleKnight Management LP boosted its position in Westrock Coffee by 44.8% during the fourth quarter. CastleKnight Management LP now owns 575,000 shares of the company’s stock valued at $2,340,000 after purchasing an additional 178,020 shares during the last quarter. Piedmont Capital Management LLC NC bought a new position in Westrock Coffee in the fourth quarter valued at approximately $645,000. Finally, Goldman Sachs Group Inc. increased its position in shares of Westrock Coffee by 189.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 176,929 shares of the company’s stock worth $720,000 after purchasing an additional 115,777 shares during the last quarter. Institutional investors own 45.08% of the company’s stock.

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.