Westrock Coffee (NASDAQ:WEST) Director Acquires $506,271.45 in Stock

Westrock Coffee (NASDAQ:WEST) Director Kenneth M. Parent purchased 62,735 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was bought at an average price of $8.07 per share, for a total transaction of $506,271.45. Following the completion of the transaction, the director now directly owns 112,451 shares in the company, valued at approximately $907,479.57. The trade was a 126.19 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Westrock Coffee Stock Down 7.1 %

NASDAQ WEST opened at $6.92 on Monday. Westrock Coffee has a 1-year low of $5.28 and a 1-year high of $11.21. The company has a market capitalization of $651.78 million, a price-to-earnings ratio of -8.05 and a beta of 0.49. The stock’s 50 day moving average is $6.92 and its two-hundred day moving average is $8.42. The company has a current ratio of 1.39, a quick ratio of 0.73 and a debt-to-equity ratio of 3.41.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on WEST shares. Craig Hallum began coverage on Westrock Coffee in a research report on Monday, September 23rd. They set a “buy” rating and a $13.00 target price on the stock. Telsey Advisory Group decreased their price objective on Westrock Coffee from $14.00 to $10.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Finally, Truist Financial initiated coverage on Westrock Coffee in a research note on Monday, October 7th. They issued a “buy” rating and a $10.00 target price for the company. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $11.40.

Hedge Funds Weigh In On Westrock Coffee

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Westrock Coffee by 23.2% during the first quarter. Vanguard Group Inc. now owns 2,538,327 shares of the company’s stock worth $26,221,000 after acquiring an additional 478,088 shares in the last quarter. Simplicity Wealth LLC acquired a new stake in shares of Westrock Coffee during the 2nd quarter worth about $230,000. Raymond James & Associates lifted its holdings in Westrock Coffee by 2.1% during the 2nd quarter. Raymond James & Associates now owns 269,174 shares of the company’s stock valued at $2,754,000 after purchasing an additional 5,520 shares during the last quarter. Catalina Capital Group LLC acquired a new position in Westrock Coffee in the second quarter valued at about $117,000. Finally, Bank of New York Mellon Corp grew its stake in Westrock Coffee by 32.1% during the second quarter. Bank of New York Mellon Corp now owns 97,210 shares of the company’s stock worth $994,000 after buying an additional 23,610 shares during the last quarter. Institutional investors own 45.08% of the company’s stock.

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.