Insider Buying: Westrock Coffee (NASDAQ:WEST) Director Acquires 3,000 Shares of Stock

Westrock Coffee Company (NASDAQ:WEST) Director Joe Ford bought 3,000 shares of the stock in a transaction on Monday, June 1st. The stock was purchased at an average cost of $8.04 per share, with a total value of $24,120.00. Following the acquisition, the director owned 544,916 shares in the company, valued at approximately $4,381,124.64. This represents a 0.55% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Westrock Coffee Price Performance

WEST traded down $0.51 on Tuesday, reaching $7.99. The stock had a trading volume of 652,196 shares, compared to its average volume of 1,038,231. Westrock Coffee Company has a fifty-two week low of $3.59 and a fifty-two week high of $8.98. The firm has a 50-day moving average of $6.10 and a 200-day moving average of $4.99. The company has a current ratio of 0.97, a quick ratio of 0.46 and a debt-to-equity ratio of 37.87. The company has a market capitalization of $774.45 million, a price-to-earnings ratio of -11.21 and a beta of 0.78.

Westrock Coffee (NASDAQ:WEST) last issued its earnings results on Thursday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.09. Westrock Coffee had a negative return on equity of 2,145.68% and a negative net margin of 5.59%.The business had revenue of $308.83 million during the quarter, compared to analysts’ expectations of $285.13 million. As a group, sell-side analysts anticipate that Westrock Coffee Company will post -0.18 EPS for the current year.

Institutional Investors Weigh In On Westrock Coffee

Institutional investors and hedge funds have recently made changes to their positions in the stock. Red Door Wealth Management LLC boosted its position in shares of Westrock Coffee by 7.7% during the 1st quarter. Red Door Wealth Management LLC now owns 28,000 shares of the company’s stock valued at $119,000 after purchasing an additional 2,000 shares in the last quarter. Piedmont Capital Management LLC NC bought a new stake in shares of Westrock Coffee during the 4th quarter valued at about $645,000. Agman Capital LLC bought a new stake in shares of Westrock Coffee during the 4th quarter valued at about $3,007,000. Waterloo Capital L.P. bought a new stake in shares of Westrock Coffee during the 4th quarter valued at about $43,000. Finally, Lathrop Investment Management Co. boosted its position in shares of Westrock Coffee by 29.6% during the 4th quarter. Lathrop Investment Management Co. now owns 23,615 shares of the company’s stock valued at $96,000 after purchasing an additional 5,400 shares in the last quarter. Institutional investors and hedge funds own 45.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Benchmark increased their price target on Westrock Coffee from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Zacks Research raised Westrock Coffee from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Weiss Ratings raised Westrock Coffee from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Telsey Advisory Group increased their price target on Westrock Coffee from $7.00 to $9.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, Stifel Nicolaus set a $8.00 price target on Westrock Coffee in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Westrock Coffee currently has a consensus rating of “Hold” and a consensus target price of $9.00.

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.