Piedmont Capital Management LLC NC Purchases New Holdings in Westrock Coffee Company $WEST

Key Points

• Piedmont Capital Management disclosed a new fourth-quarter stake in Westrock Coffee, buying 158,354 shares worth about $645,000, equal to 0.16% of the company.
• Institutional interest remains significant, with hedge funds and other investors owning 45.08% of Westrock Coffee; several firms, including Vanguard and NFC Investments, also increased their positions.
• Insider buying has continued, highlighted by director Joe T. Ford purchasing 55,000 shares at $4.60 each, while analysts currently rate the stock Hold on average with a $9.00 target price.

Piedmont Capital Management LLC NC purchased a new stake in shares of Westrock Coffee Company (NASDAQ:WEST - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 158,354 shares of the company's stock, valued at approximately $645,000. Piedmont Capital Management LLC NC owned 0.16% of Westrock Coffee at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. NFC Investments LLC raised its holdings in Westrock Coffee by 2.0% in the third quarter. NFC Investments LLC now owns 4,089,711 shares of the company's stock worth $19,876,000 after buying an additional 81,730 shares during the last quarter. Vanguard Group Inc. raised its holdings in Westrock Coffee by 0.5% in the third quarter. Vanguard Group Inc. now owns 2,984,114 shares of the company's stock worth $14,503,000 after buying an additional 14,707 shares during the last quarter. Agman Capital LLC purchased a new position in Westrock Coffee in the fourth quarter worth about $3,007,000. Millennium Management LLC grew its stake in shares of Westrock Coffee by 4.1% in the third quarter. Millennium Management LLC now owns 320,282 shares of the company's stock worth $1,557,000 after acquiring an additional 12,728 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Westrock Coffee by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 294,987 shares of the company's stock worth $1,201,000 after acquiring an additional 6,725 shares during the period. 45.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Westrock Coffee

In related news, Director Joe T. Ford bought 55,000 shares of the stock in a transaction dated Tuesday, March 17th. The shares were purchased at an average price of $4.60 per share, with a total value of $253,000.00. Following the completion of the acquisition, the director owned 533,916 shares of the company's stock, valued at $2,456,013.60. This represents a 11.48% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased 89,500 shares of company stock valued at $543,715 in the last three months. Corporate insiders own 25.40% of the company's stock.

Westrock Coffee Stock Performance

WEST opened at $9.50 on Monday. The firm has a market cap of $920.36 million, a P/E ratio of -12.67 and a beta of 0.90. Westrock Coffee Company has a 1-year low of $3.59 and a 1-year high of $9.81. The company has a 50 day simple moving average of $6.86 and a two-hundred day simple moving average of $5.25. The company has a debt-to-equity ratio of 37.87, a current ratio of 0.97 and a quick ratio of 0.46.

Westrock Coffee (NASDAQ:WEST - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.13) by $0.09. The business had revenue of $308.83 million during the quarter, compared to analyst estimates of $285.13 million. Westrock Coffee had a negative net margin of 5.59% and a negative return on equity of 2,145.68%. Equities analysts forecast that Westrock Coffee Company will post -0.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on WEST shares. Telsey Advisory Group lifted their price target on shares of Westrock Coffee from $7.00 to $9.00 and gave the stock an "outperform" rating in a research note on Friday, May 8th. Weiss Ratings upgraded shares of Westrock Coffee from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, May 7th. Zacks Research upgraded shares of Westrock Coffee from a "strong sell" rating to a "hold" rating in a research note on Monday, May 11th. Wall Street Zen upgraded shares of Westrock Coffee from a "sell" rating to a "hold" rating in a research note on Saturday, March 14th. Finally, Benchmark boosted their target price 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. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Westrock Coffee presently has an average rating of "Hold" and an average target price of $9.00.

Westrock Coffee Company Profile

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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