Sovereign s Capital Management LLC Acquires New Position in Westrock Coffee (NASDAQ:WEST)

Sovereign s Capital Management LLC bought a new position in Westrock Coffee (NASDAQ:WEST - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 72,410 shares of the company's stock, valued at approximately $465,000. Sovereign s Capital Management LLC owned approximately 0.08% of Westrock Coffee at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of WEST. Millennium Management LLC raised its holdings in shares of Westrock Coffee by 198.9% in the fourth quarter. Millennium Management LLC now owns 589,450 shares of the company's stock valued at $3,784,000 after buying an additional 392,214 shares during the last quarter. Vanguard Group Inc. boosted its stake in Westrock Coffee by 7.7% during the 4th quarter. Vanguard Group Inc. now owns 2,812,993 shares of the company's stock worth $18,059,000 after acquiring an additional 199,939 shares during the last quarter. Raymond James Financial Inc. bought a new position in Westrock Coffee during the 4th quarter worth approximately $840,000. Stephens Inc. AR increased its holdings in shares of Westrock Coffee by 54.8% in the fourth quarter. Stephens Inc. AR now owns 236,364 shares of the company's stock worth $1,517,000 after acquiring an additional 83,647 shares in the last quarter. Finally, Mariner LLC increased its holdings in shares of Westrock Coffee by 109.7% in the fourth quarter. Mariner LLC now owns 127,620 shares of the company's stock worth $819,000 after acquiring an additional 66,751 shares in the last quarter. 45.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Joe T. Ford bought 10,000 shares of Westrock Coffee stock in a transaction that occurred on Tuesday, May 13th. The shares were acquired at an average cost of $7.35 per share, for a total transaction of $73,500.00. Following the completion of the acquisition, the director now directly owns 276,445 shares of the company's stock, valued at approximately $2,031,870.75. The trade was a 3.75% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO William A. Ford acquired 15,000 shares of the stock in a transaction dated Friday, March 14th. The stock was acquired at an average cost of $6.45 per share, with a total value of $96,750.00. Following the completion of the transaction, the chief operating officer now owns 476,190 shares in the company, valued at approximately $3,071,425.50. This represents a 3.25% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 120,000 shares of company stock worth $879,150 in the last 90 days. Insiders own 42.10% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on WEST. Stifel Nicolaus cut their price objective on shares of Westrock Coffee from $12.00 to $10.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Telsey Advisory Group reissued an "outperform" rating and issued a $9.00 price objective on shares of Westrock Coffee in a research report on Tuesday, May 6th. Finally, Benchmark restated a "buy" rating and issued a $10.00 price target on shares of Westrock Coffee in a research note on Wednesday, April 16th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $10.40.

Westrock Coffee Stock Performance

NASDAQ:WEST traded down $0.34 during mid-day trading on Friday, reaching $7.00. 205,519 shares of the company's stock were exchanged, compared to its average volume of 299,659. Westrock Coffee has a one year low of $5.28 and a one year high of $10.77. The firm has a market capitalization of $659.60 million, a PE ratio of -8.14 and a beta of 0.49. The business's fifty day simple moving average is $6.48 and its two-hundred day simple moving average is $6.65. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.73 and a current ratio of 1.39.

Westrock Coffee (NASDAQ:WEST - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.22) earnings per share for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.05). The company had revenue of $213.80 million for the quarter, compared to the consensus estimate of $213.85 million. Westrock Coffee had a negative net margin of 9.05% and a negative return on equity of 20.72%. Analysts anticipate that Westrock Coffee 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.