Westrock Coffee (NASDAQ:WEST) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN raised its position in shares of Westrock Coffee (NASDAQ:WEST) by 47.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 16,332 shares of the company’s stock after buying an additional 5,264 shares during the period. Wells Fargo & Company MN’s holdings in Westrock Coffee were worth $105,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. KLP Kapitalforvaltning AS purchased a new position in shares of Westrock Coffee during the fourth quarter worth $47,000. Virtu Financial LLC purchased a new position in Westrock Coffee in the fourth quarter valued at $83,000. First Horizon Advisors Inc. purchased a new position in Westrock Coffee in the fourth quarter valued at $96,000. Blue Trust Inc. boosted its holdings in Westrock Coffee by 62.7% in the fourth quarter. Blue Trust Inc. now owns 18,107 shares of the company’s stock valued at $118,000 after purchasing an additional 6,981 shares during the period. Finally, Savant Capital LLC purchased a new position in Westrock Coffee in the fourth quarter valued at $132,000. 45.08% of the stock is currently owned by hedge funds and other institutional investors.

Westrock Coffee Price Performance

Shares of NASDAQ:WEST opened at $7.26 on Monday. The business’s 50 day simple moving average is $6.31 and its 200-day simple moving average is $6.61. The firm has a market capitalization of $684.10 million, a price-to-earnings ratio of -8.44 and a beta of 0.49. 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 12 month low of $5.28 and a 12 month high of $10.99.

Westrock Coffee (NASDAQ:WEST) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.05). Westrock Coffee had a negative net margin of 9.05% and a negative return on equity of 20.72%. The company had revenue of $213.80 million during the quarter, compared to analysts’ expectations of $213.85 million. As a group, equities analysts forecast that Westrock Coffee will post -0.3 earnings per share for the current fiscal year.

Insider Activity

In related news, COO William A. Ford acquired 15,000 shares of Westrock Coffee stock in a transaction dated 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 completion of the transaction, the chief operating officer now directly owns 476,190 shares of the company’s stock, valued at $3,071,425.50. The trade was a 3.25% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 42.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WEST. Telsey Advisory Group reiterated an “outperform” rating and issued a $9.00 target price on shares of Westrock Coffee in a report on Tuesday, May 6th. Benchmark reiterated a “buy” rating and issued a $10.00 target price on shares of Westrock Coffee in a report on Wednesday, April 16th. Finally, Stifel Nicolaus decreased their target price on Westrock Coffee from $12.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Westrock Coffee currently has an average rating of “Buy” and an average price target of $10.40.

About Westrock Coffee

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.