Raymond James Financial Inc. Invests $840,000 in Westrock Coffee (NASDAQ:WEST)

Raymond James Financial Inc. acquired a new stake in shares of Westrock Coffee (NASDAQ:WEST) during the 4th quarter, Holdings Channel reports. The fund acquired 130,816 shares of the company’s stock, valued at approximately $840,000.

Other hedge funds have also recently bought and sold shares of the company. Stephens Inc. AR raised its holdings in Westrock Coffee by 54.8% in the 4th quarter. Stephens Inc. AR now owns 236,364 shares of the company’s stock valued at $1,517,000 after acquiring an additional 83,647 shares during the last quarter. Barclays PLC grew its position in shares of Westrock Coffee by 363.9% in the third quarter. Barclays PLC now owns 57,357 shares of the company’s stock valued at $373,000 after purchasing an additional 44,993 shares during the period. Geode Capital Management LLC increased its stake in Westrock Coffee by 5.7% in the third quarter. Geode Capital Management LLC now owns 806,325 shares of the company’s stock valued at $5,242,000 after purchasing an additional 43,731 shares during the last quarter. DAVENPORT & Co LLC lifted its position in Westrock Coffee by 15.7% during the fourth quarter. DAVENPORT & Co LLC now owns 238,675 shares of the company’s stock worth $1,532,000 after buying an additional 32,325 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Westrock Coffee by 8.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 282,643 shares of the company’s stock worth $1,837,000 after buying an additional 22,945 shares during the last quarter. Institutional investors and hedge funds own 45.08% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Benchmark reaffirmed a “buy” rating and set a $10.00 price objective on shares of Westrock Coffee in a research note on Friday, March 14th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $9.00 price target on shares of Westrock Coffee in a research report on Wednesday, March 12th.

Westrock Coffee Stock Performance

NASDAQ WEST opened at $6.34 on Friday. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.39 and a quick ratio of 0.73. Westrock Coffee has a 1-year low of $5.28 and a 1-year high of $10.99. The firm has a market capitalization of $597.41 million, a P/E ratio of -7.37 and a beta of 0.59. The business’s 50-day simple moving average is $6.63 and its 200-day simple moving average is $6.73.

Insider Buying and Selling at Westrock Coffee

In related news, COO William A. Ford bought 15,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average cost of $6.45 per share, for a total transaction of $96,750.00. Following the acquisition, the chief operating officer now owns 476,190 shares in the company, valued at $3,071,425.50. This represents a 3.25 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 42.10% of the stock is currently owned by corporate insiders.

Westrock Coffee Company Profile

Westrock Coffee Company, LLC operates as an integrated coffee, tea, flavors, extracts, and ingredients solutions provider in the United States and internationally. It operates through two segments, Beverage Solutions, and Sustainable Sourcing & Traceability (SS&T). The Beverage Solutions segment provides various packaging, including branded and private label coffee in bags, fractional packs, and single serve cups, as well as extract solutions for applications in cold brew and ready-to-drink offerings.