Joe Ford Acquires 8,500 Shares of Westrock Coffee (NASDAQ:WEST) Stock

Westrock Coffee Company (NASDAQ:WEST) Director Joe Ford purchased 8,500 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was acquired at an average cost of $8.43 per share, with a total value of $71,655.00. Following the acquisition, the director owned 258,000 shares in the company, valued at $2,174,940. The trade was a 3.41% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

Westrock Coffee Stock Performance

Westrock Coffee stock opened at $8.45 on Friday. The company has a debt-to-equity ratio of 37.87, a current ratio of 0.97 and a quick ratio of 0.48. Westrock Coffee Company has a 1-year low of $3.59 and a 1-year high of $8.98. The firm has a market capitalization of $818.63 million, a P/E ratio of -11.27 and a beta of 0.78. The company’s 50-day moving average is $5.20 and its 200 day moving average is $4.69.

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WEST. Stifel Nicolaus set a $8.00 price objective on shares of Westrock Coffee in a research report on Friday, May 8th. Zacks Research raised shares of Westrock Coffee from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. Weiss Ratings raised shares of Westrock Coffee from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. Benchmark increased their price objective on shares of Westrock Coffee from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Finally, Wall Street Zen raised shares of Westrock Coffee from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $9.00.

Hedge Funds Weigh In On Westrock Coffee

A number of institutional investors have recently modified their holdings of the stock. Group One Trading LLC purchased a new position in shares of Westrock Coffee during the first quarter worth approximately $26,000. Hsbc Holdings PLC increased its position in shares of Westrock Coffee by 110.9% during the first quarter. Hsbc Holdings PLC now owns 29,811 shares of the company’s stock worth $123,000 after acquiring an additional 15,676 shares during the period. Lee Danner & Bass Inc. purchased a new position in shares of Westrock Coffee during the first quarter worth approximately $1,203,000. Inspire Investing LLC increased its position in shares of Westrock Coffee by 8.1% during the first quarter. Inspire Investing LLC now owns 125,038 shares of the company’s stock worth $531,000 after acquiring an additional 9,319 shares during the period. Finally, Red Door Wealth Management LLC increased its position in shares of Westrock Coffee by 7.7% during the first quarter. Red Door Wealth Management LLC now owns 28,000 shares of the company’s stock worth $119,000 after acquiring an additional 2,000 shares during the period. 45.08% of the stock is owned by hedge funds and other institutional investors.

Westrock Coffee Company Profile

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.