Joe Ford Acquires 55,000 Shares of Westrock Coffee (NASDAQ:WEST) Stock

Westrock Coffee Company (NASDAQ:WEST) Director Joe Ford purchased 55,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was bought at an average cost of $4.60 per share, for a total transaction of $253,000.00. Following the completion of the acquisition, the director directly owned 533,916 shares of the company’s stock, valued at $2,456,013.60. This represents a 11.48% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Westrock Coffee Price Performance

Shares of WEST stock opened at $4.43 on Thursday. The firm has a market cap of $428.91 million, a P/E ratio of -4.66 and a beta of 0.49. The company has a debt-to-equity ratio of 37.87, a current ratio of 0.96 and a quick ratio of 0.48. Westrock Coffee Company has a 1-year low of $3.59 and a 1-year high of $7.92. The firm has a fifty day moving average of $4.60 and a two-hundred day moving average of $4.55.

Westrock Coffee (NASDAQ:WEST) last issued 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 net margin of 7.61% and a negative return on equity of 233.53%. The company had revenue of $339.47 million during the quarter, compared to analyst estimates of $317.40 million. As a group, research analysts anticipate that Westrock Coffee Company will post -0.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Westrock Coffee

Large investors have recently bought and sold shares of the business. Agman Capital LLC acquired a new stake in shares of Westrock Coffee during the 4th quarter worth approximately $3,007,000. Millennium Management LLC boosted its position in Westrock Coffee by 111.2% during the 4th 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 period. CastleKnight Management LP boosted its position in Westrock Coffee by 44.8% during the 4th 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 period. Piedmont Capital Management LLC NC bought a new position in Westrock Coffee during the 4th quarter worth $645,000. Finally, Goldman Sachs Group Inc. grew its stake in 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 buying an additional 115,777 shares during the last quarter. Institutional investors own 45.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on WEST. Wall Street Zen raised Westrock Coffee from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Stifel Nicolaus lowered their price target on Westrock Coffee from $10.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. Telsey Advisory Group reissued an “outperform” rating and set a $7.00 price target on shares of Westrock Coffee in a research report on Monday, March 9th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Westrock Coffee in a research note on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Westrock Coffee presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.00.

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.