Stephens Group LLC Cuts Stock Position in Westrock Coffee Company $WEST

Key Points

• Stephens Group reduced its Westrock Coffee position by 9.4%, selling 762,172 shares and retaining 7.35 million shares worth approximately $59.6 million, or 7.58% of the company. Institutional investors collectively own 45.08% of Westrock Coffee.
• Westrock Coffee reported weaker-than-expected quarterly results, with an adjusted loss of $0.10 per share versus the $0.07 consensus loss estimate and revenue of $305.66 million versus expectations of $318.80 million.
• Analyst sentiment remains mixed: the stock has an average rating of “Hold” and a $9.67 price target, while recent targets range from $9 to $10. Insiders have purchased 34,500 shares worth about $290,715 over the past 90 days.

Stephens Group LLC decreased its position in shares of Westrock Coffee Company (NASDAQ:WEST - Free Report) by 9.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 7,347,871 shares of the company's stock after selling 762,172 shares during the period. Westrock Coffee comprises about 28.9% of Stephens Group LLC's holdings, making the stock its 2nd largest holding. Stephens Group LLC owned about 7.58% of Westrock Coffee worth $59,591,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC purchased a new position in shares of Westrock Coffee in the 1st quarter valued at approximately $166,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Westrock Coffee by 10.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,292 shares of the company's stock worth $154,000 after purchasing an additional 2,003 shares in the last quarter. Rhumbline Advisers lifted its position in Westrock Coffee by 8.1% during the second quarter. Rhumbline Advisers now owns 49,510 shares of the company's stock valued at $284,000 after buying an additional 3,723 shares during the period. EverSource Wealth Advisors LLC lifted its position in Westrock Coffee by 199.0% during the second quarter. EverSource Wealth Advisors LLC now owns 6,214 shares of the company's stock valued at $36,000 after buying an additional 4,136 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of Westrock Coffee during the 2nd quarter valued at $104,000. Institutional investors own 45.08% of the company's stock.

Insiders Place Their Bets

In other news, Director Joe T. Ford purchased 15,000 shares of the stock in a transaction dated Thursday, May 14th. The shares were purchased at an average cost of $8.50 per share, with a total value of $127,500.00. Following the acquisition, the director directly owned 273,000 shares of the company's stock, valued at $2,320,500. This represents a 5.81% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have acquired 34,500 shares of company stock worth $290,715. 25.40% of the stock is currently owned by insiders.

Westrock Coffee Stock Performance

WEST opened at $8.16 on Tuesday. The company's 50-day simple moving average is $8.09 and its two-hundred day simple moving average is $6.36. The stock has a market capitalization of $790.53 million, a P/E ratio of -12.36 and a beta of 0.90. Westrock Coffee Company has a 52-week low of $3.59 and a 52-week high of $10.19.

Westrock Coffee (NASDAQ:WEST - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.03). The company had revenue of $305.66 million during the quarter, compared to the consensus estimate of $318.80 million. Westrock Coffee had a negative return on equity of 2,145.68% and a negative net margin of 4.88%. Research analysts forecast that Westrock Coffee Company will post -0.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

WEST has been the subject of several research reports. Telsey Advisory Group increased their price target on shares of Westrock Coffee from $9.00 to $10.00 and gave the stock an "outperform" rating in a research note on Friday. Stifel Nicolaus set a $9.00 target price on shares of Westrock Coffee in a research note on Friday. Benchmark raised their price objective on Westrock Coffee from $8.00 to $10.00 and gave the company a "buy" rating in a research report on Monday, May 11th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Westrock Coffee in a research note on Tuesday, August 4th. Finally, Zacks Research upgraded shares of Westrock Coffee from a "strong sell" rating to a "hold" rating in a research note on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $9.67.

About Westrock Coffee

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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