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

Westrock Coffee Company (NASDAQ:WEST) Director Joe Ford acquired 8,500 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was purchased at an average cost of $8.43 per share, for a total transaction of $71,655.00. Following the completion of the acquisition, the director directly owned 258,000 shares of the company’s stock, valued at approximately $2,174,940. This trade represents a 3.41% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

Westrock Coffee Stock Performance

Shares of WEST stock traded up $0.09 during mid-day trading on Friday, reaching $8.45. The stock had a trading volume of 816,764 shares, compared to its average volume of 466,167. The business’s fifty day moving average is $5.11 and its 200-day moving average is $4.66. The company has a current ratio of 0.97, a quick ratio of 0.48 and a debt-to-equity ratio of 37.87. The firm has a market cap of $818.64 million, a price-to-earnings ratio of -11.27 and a beta of 0.78. Westrock Coffee Company has a 1-year low of $3.59 and a 1-year high of $8.98.

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

Wall Street Analyst Weigh In

Several research firms recently commented on WEST. Zacks Research raised Westrock Coffee from a “strong sell” rating to a “hold” rating in a report on Monday. Benchmark raised their target price on Westrock Coffee from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Monday. Telsey Advisory Group raised their target price on Westrock Coffee from $7.00 to $9.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Wall Street Zen raised Westrock Coffee from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Weiss Ratings raised Westrock Coffee from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $9.00.

Hedge Funds Weigh In On Westrock Coffee

A number of hedge funds have recently bought and sold shares of WEST. Agman Capital LLC purchased a new position in Westrock Coffee during the fourth quarter worth approximately $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 worth $2,753,000 after purchasing an additional 356,118 shares in the last quarter. Lee Danner & Bass Inc. purchased a new position in Westrock Coffee during the first quarter worth approximately $1,203,000. 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 worth $2,340,000 after purchasing an additional 178,020 shares in the last quarter. Finally, Piedmont Capital Management LLC NC purchased a new position in Westrock Coffee during the fourth quarter worth approximately $645,000. Hedge funds and other institutional investors own 45.08% of the company’s stock.

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.