Nuveen LLC Acquires New Holdings in Westrock Coffee Company $WEST

Key Points

• Nuveen LLC has made a new investment in Westrock Coffee Company, acquiring 94,215 shares valued at approximately $680,000, representing around 0.10% of the company.
• Significant institutional buying has occurred, with Vanguard Group Inc. increasing its stake by 4.9% and other firms like Millennium Management LLC boosting their holdings by nearly 199% in recent quarters.
• Analysts have a consensus rating of Buy for Westrock Coffee, with an average price target of $10.60, reflecting optimism about the company's financial performance as they beat EPS estimates in their latest earnings report.

Nuveen LLC acquired a new position in shares of Westrock Coffee Company (NASDAQ:WEST - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 94,215 shares of the company's stock, valued at approximately $680,000. Nuveen LLC owned about 0.10% of Westrock Coffee as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in WEST. Millennium Management LLC lifted its holdings in shares of Westrock Coffee by 198.9% during the 4th quarter. Millennium Management LLC now owns 589,450 shares of the company's stock worth $3,784,000 after acquiring an additional 392,214 shares during the last quarter. Vanguard Group Inc. lifted its stake in Westrock Coffee by 4.9% in the first quarter. Vanguard Group Inc. now owns 2,950,639 shares of the company's stock worth $21,304,000 after purchasing an additional 137,646 shares during the last quarter. Sovereign s Capital Management LLC bought a new stake in Westrock Coffee in the fourth quarter worth $465,000. Cresset Asset Management LLC bought a new stake in Westrock Coffee in the fourth quarter worth $353,000. Finally, Bank of America Corp DE lifted its stake in Westrock Coffee by 76.9% in the fourth quarter. Bank of America Corp DE now owns 76,401 shares of the company's stock worth $490,000 after purchasing an additional 33,212 shares during the last quarter. 45.08% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Joe T. Ford purchased 5,000 shares of Westrock Coffee stock in a transaction that occurred on Tuesday, September 2nd. The shares were bought at an average price of $5.30 per share, for a total transaction of $26,500.00. Following the completion of the transaction, the director directly owned 413,916 shares of the company's stock, valued at $2,193,754.80. This represents a 1.22% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 27.70% of the stock is owned by corporate insiders.

Westrock Coffee Trading Up 1.3%

Shares of WEST traded up $0.07 during mid-day trading on Tuesday, hitting $5.18. 78,873 shares of the company's stock traded hands, compared to its average volume of 336,369. The company has a quick ratio of 0.50, a current ratio of 1.04 and a debt-to-equity ratio of 23.42. Westrock Coffee Company has a 1 year low of $5.05 and a 1 year high of $8.29. The firm has a market capitalization of $490.11 million, a P/E ratio of -5.51 and a beta of 0.51. The business's 50-day moving average price is $6.31 and its 200-day moving average price is $6.42.

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Wall Street Zen raised shares of Westrock Coffee from a "sell" rating to a "hold" rating in a research note on Friday, August 22nd. Telsey Advisory Group reissued an "outperform" rating and issued a $10.00 price target on shares of Westrock Coffee in a research note on Tuesday, August 5th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat, Westrock Coffee currently has an average rating of "Buy" and an average target price of $10.60.

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.