Algert Global LLC purchased a new stake in Westrock Coffee Company (NASDAQ:WEST - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 347,241 shares of the company's stock, valued at approximately $2,816,000. Algert Global LLC owned 0.36% of Westrock Coffee as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently bought and sold shares of WEST. Quantbot Technologies LP purchased a new stake in Westrock Coffee during the second quarter worth $39,000. Ieq Capital LLC acquired a new position in Westrock Coffee in the second quarter valued at approximately $344,000. BlackRock Inc. acquired a new position in shares of Westrock Coffee in the 2nd quarter worth approximately $22,500,000. Deutsche Bank AG purchased a new position in Westrock Coffee during the 2nd quarter valued at about $278,000. Finally, Bank of New York Mellon Corp acquired a new position in Westrock Coffee during the 2nd quarter worth approximately $674,000. 45.08% of the stock is currently owned by institutional investors and hedge funds.
Westrock Coffee Stock Performance
NASDAQ WEST opened at $8.00 on Friday. Westrock Coffee Company has a one year low of $3.59 and a one year high of $10.19. The company has a 50-day simple moving average of $8.02 and a 200-day simple moving average of $6.69. The firm has a market capitalization of $781.04 million, a PE ratio of -12.12 and a beta of 0.90.
Westrock Coffee (NASDAQ:WEST - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.03). The business had revenue of $305.66 million during the quarter, compared to the consensus estimate of $318.80 million. Westrock Coffee had a negative return on equity of 2,145.68% and a negative net margin of 4.88%. Equities analysts forecast that Westrock Coffee Company will post -0.22 earnings per share for the current year.
Analyst Ratings Changes
WEST has been the subject of a number of analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Westrock Coffee in a research note on Tuesday, August 4th. Zacks Research upgraded shares of Westrock Coffee from a "strong sell" rating to a "hold" rating in a report on Monday, May 11th. Stifel Nicolaus set a $9.00 price objective on shares of Westrock Coffee in a research note on Friday, August 7th. Benchmark boosted their price target on Westrock Coffee from $8.00 to $10.00 and gave the company a "buy" rating in a report on Monday, May 11th. Finally, Telsey Advisory Group lifted their price target on Westrock Coffee from $10.00 to $11.00 and gave the company an "outperform" rating in a report on Wednesday, August 19th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $10.00.
Get Our Latest Research Report on WEST
Westrock Coffee Company Profile
(
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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