BlackRock Inc. acquired a new position in shares of Westrock Coffee Company (NASDAQ:WEST - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,774,331 shares of the company's stock, valued at approximately $22,500,000. BlackRock Inc. owned 2.86% of Westrock Coffee as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of the business. Deutsche Bank AG acquired a new stake in shares of Westrock Coffee in the 2nd quarter valued at $278,000. Bank of New York Mellon Corp bought a new position in Westrock Coffee in the 2nd quarter valued at $674,000. Summit Asset Management LLC bought a new position in Westrock Coffee in the second quarter valued at about $87,000. Bank of America Corp DE grew its holdings in Westrock Coffee by 2.2% during the 1st quarter. Bank of America Corp DE now owns 69,801 shares of the company's stock worth $297,000 after acquiring an additional 1,477 shares during the period. Finally, Group One Trading LLC acquired a new stake in shares of Westrock Coffee in the 1st quarter valued at approximately $26,000. Institutional investors and hedge funds own 45.08% of the company's stock.
Westrock Coffee Stock Performance
WEST stock opened at $7.84 on Thursday. The business has a 50-day simple moving average of $7.93 and a two-hundred day simple moving average of $6.76. Westrock Coffee Company has a 52-week low of $3.59 and a 52-week high of $10.19. The company has a market capitalization of $765.42 million, a P/E ratio of -11.88 and a beta of 0.89.
Westrock Coffee (NASDAQ:WEST - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The firm had revenue of $305.66 million during the quarter, compared to analysts' expectations of $318.80 million. Westrock Coffee had a negative net margin of 4.88% and a negative return on equity of 2,145.68%. As a group, sell-side analysts forecast that Westrock Coffee Company will post -0.22 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on the company. Telsey Advisory Group lifted their target price on Westrock Coffee from $10.00 to $11.00 and gave the company an "outperform" rating in a research report on Wednesday, August 19th. Zacks Research upgraded shares of Westrock Coffee from a "strong sell" rating to a "hold" rating in a research report on Monday, May 11th. Stifel Nicolaus set a $9.00 target price on shares of Westrock Coffee in a research report on Friday, August 7th. Benchmark reiterated a "buy" rating on shares of Westrock Coffee in a research report on Monday. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Westrock Coffee in a research note on Tuesday, August 4th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $10.00.
Check Out Our Latest Stock Analysis on Westrock Coffee
About Westrock Coffee
(
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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