Key Points
- Director Joe Ford bought 3,000 shares of Westrock Coffee at $8.04 each, totaling $24,120. After the purchase, he owned 544,916 shares, a 0.55% increase in his stake.
- Westrock Coffee shares were down 6.2% and opened at $7.97, though the stock has traded between a 12-month low of $3.59 and high of $8.98.
- The company recently beat quarterly expectations, posting EPS of -$0.04 versus an expected -$0.13 and revenue of $308.83 million, while analysts currently rate the stock a consensus Hold with a $9.00 target.
Westrock Coffee Company (NASDAQ:WEST - Get Free Report) Director Joe Ford acquired 3,000 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were bought at an average price of $8.04 per share, for a total transaction of $24,120.00. Following the transaction, the director owned 544,916 shares of the company's stock, valued at $4,381,124.64. This trade represents a 0.55% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.
Westrock Coffee Stock Down 6.2%
Shares of Westrock Coffee stock opened at $7.97 on Wednesday. The company has a quick ratio of 0.46, a current ratio of 0.97 and a debt-to-equity ratio of 37.87. Westrock Coffee Company has a twelve month low of $3.59 and a twelve month high of $8.98. The company has a market cap of $772.13 million, a price-to-earnings ratio of -10.63 and a beta of 0.90. The company's 50 day moving average is $6.10 and its 200 day moving average is $4.99.
Westrock Coffee (NASDAQ:WEST - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.09. Westrock Coffee had a negative net margin of 5.59% and a negative return on equity of 2,145.68%. The business had revenue of $308.83 million for the quarter, compared to the consensus estimate of $285.13 million. Research analysts anticipate that Westrock Coffee Company will post -0.18 EPS for the current year.
Analysts Set New Price Targets
Several research analysts have weighed in on the stock. Stifel Nicolaus set a $8.00 price target on shares of Westrock Coffee in a research report on Friday, May 8th. Weiss Ratings upgraded shares of Westrock Coffee from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, May 7th. Telsey Advisory Group raised their price objective on shares of Westrock Coffee from $7.00 to $9.00 and gave the company an "outperform" rating in a research report on Friday, May 8th. Benchmark raised their price objective on shares of Westrock Coffee from $8.00 to $10.00 and gave the company a "buy" rating in a research report on Monday, May 11th. Finally, Zacks Research upgraded shares of Westrock Coffee from a "strong sell" rating to a "hold" rating in a research report on Monday, May 11th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Westrock Coffee currently has a consensus rating of "Hold" and a consensus price target of $9.00.
Check Out Our Latest Stock Report on Westrock Coffee
Hedge Funds Weigh In On Westrock Coffee
Several institutional investors have recently bought and sold shares of the stock. NFC Investments LLC grew its stake in Westrock Coffee by 2.0% during the third quarter. NFC Investments LLC now owns 4,089,711 shares of the company's stock valued at $19,876,000 after acquiring an additional 81,730 shares in the last quarter. Vanguard Group Inc. grew its stake in Westrock Coffee by 0.5% during the third quarter. Vanguard Group Inc. now owns 2,984,114 shares of the company's stock valued at $14,503,000 after acquiring an additional 14,707 shares in the last quarter. Agman Capital LLC purchased a new position in Westrock Coffee during the fourth quarter valued at $3,007,000. Millennium Management LLC grew its stake in Westrock Coffee by 111.2% during the fourth quarter. Millennium Management LLC now owns 676,400 shares of the company's stock valued at $2,753,000 after acquiring an additional 356,118 shares in the last quarter. Finally, CastleKnight Management LP grew its stake in Westrock Coffee by 44.8% during the fourth quarter. CastleKnight Management LP now owns 575,000 shares of the company's stock valued at $2,340,000 after acquiring an additional 178,020 shares in the last quarter. 45.08% of the stock is owned by hedge funds and other institutional investors.
About Westrock Coffee
(
Get Free Report)
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.
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