Goldman Sachs Group Inc. Cuts Stock Position in Westrock Coffee Company $WEST

Key Points

• Goldman Sachs Group Inc. reduced its stake in Westrock Coffee Company by 30.2% during the first quarter, leaving them with approximately 0.12% ownership valued at $839,000.
• Various institutional investors, including Bank of America and Deutsche Bank, have increased their holdings in Westrock Coffee, indicating growing institutional interest in the stock.
• Westrock Coffee has received a consensus rating of "Buy" from analysts with an average price target of $10.00, following a recent earnings report that surpassed expectations.

Goldman Sachs Group Inc. lessened its stake in Westrock Coffee Company (NASDAQ:WEST - Free Report) by 30.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 116,223 shares of the company's stock after selling 50,263 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.12% of Westrock Coffee worth $839,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WEST. Northern Trust Corp increased its holdings in Westrock Coffee by 2.3% in the 4th quarter. Northern Trust Corp now owns 300,712 shares of the company's stock worth $1,931,000 after acquiring an additional 6,762 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in Westrock Coffee in the 4th quarter worth $37,000. Bank of America Corp DE grew its holdings in shares of Westrock Coffee by 76.9% during the fourth quarter. Bank of America Corp DE now owns 76,401 shares of the company's stock worth $490,000 after buying an additional 33,212 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Westrock Coffee by 88.3% during the fourth quarter. Deutsche Bank AG now owns 42,294 shares of the company's stock worth $272,000 after buying an additional 19,829 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Westrock Coffee by 198.9% during the fourth quarter. Millennium Management LLC now owns 589,450 shares of the company's stock worth $3,784,000 after buying an additional 392,214 shares in the last quarter. Hedge funds and other institutional investors own 45.08% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on WEST shares. Wall Street Zen raised shares of Westrock Coffee from a "sell" rating to a "hold" rating in a report on Friday, August 22nd. Telsey Advisory Group reaffirmed an "outperform" rating and set a $10.00 target price on shares of Westrock Coffee in a report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, Westrock Coffee has a consensus rating of "Buy" and an average price target of $10.00.

Insiders Place Their Bets

In other news, Director Joe T. Ford bought 5,000 shares of Westrock Coffee stock in a transaction that occurred on Tuesday, September 2nd. The shares were purchased at an average price of $5.30 per share, with a total value of $26,500.00. Following the completion of the acquisition, the director directly owned 413,916 shares in the company, valued at $2,193,754.80. The trade was a 1.22% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 27.70% of the stock is currently owned by company insiders.

Westrock Coffee Stock Down 0.6%

Shares of WEST opened at $5.02 on Wednesday. The stock has a market capitalization of $475.44 million, a PE ratio of -5.34 and a beta of 0.51. Westrock Coffee Company has a 1 year low of $4.81 and a 1 year high of $8.29. The company has a debt-to-equity ratio of 23.42, a quick ratio of 0.50 and a current ratio of 1.04. The company's 50-day simple moving average is $6.09 and its 200-day simple moving average is $6.33.

Westrock Coffee (NASDAQ:WEST - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.02. The business had revenue of $280.86 million for the quarter, compared to analysts' expectations of $238.34 million. Westrock Coffee had a negative net margin of 9.28% and a negative return on equity of 64.79%. Analysts forecast that Westrock Coffee Company will post -0.3 earnings per share for the current fiscal year.

Westrock Coffee Company Profile

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.

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