Vanguard Group Inc. Buys 137,646 Shares of Westrock Coffee Company $WEST

Key Points

• Vanguard Group Inc. increased its ownership in Westrock Coffee Company by 4.9% in Q1, now holding approximately 3.13% of the company with a value of $21.3 million.
• Wall Street analysts are optimistic about Westrock Coffee, with five analysts rating it a Buy and a consensus target price of $10.60.
• Despite recent declines, Westrock Coffee reported better-than-expected revenue of $280.86 million for the last quarter, significantly surpassing analysts' expectations.

Vanguard Group Inc. boosted its position in shares of Westrock Coffee Company (NASDAQ:WEST - Free Report) by 4.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,950,639 shares of the company's stock after acquiring an additional 137,646 shares during the quarter. Vanguard Group Inc. owned 3.13% of Westrock Coffee worth $21,304,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Millennium Management LLC grew its position in Westrock Coffee by 198.9% during 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 period. Raymond James Financial Inc. purchased a new position in Westrock Coffee during the fourth quarter valued at $840,000. Sovereign s Capital Management LLC bought a new stake in Westrock Coffee during the fourth quarter valued at about $465,000. Cresset Asset Management LLC purchased a new stake in Westrock Coffee in the fourth quarter worth about $353,000. Finally, Bank of America Corp DE raised its stake in shares of 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 buying an additional 33,212 shares during the period. 45.08% of the stock is owned by hedge funds and other institutional investors.

Westrock Coffee Price Performance

NASDAQ WEST traded up $0.09 on Thursday, reaching $5.42. The company had a trading volume of 601,747 shares, compared to its average volume of 669,207. The stock has a market capitalization of $513.33 million, a PE ratio of -5.77 and a beta of 0.51. Westrock Coffee Company has a 12 month low of $5.09 and a 12 month high of $8.66. The company has a quick ratio of 0.50, a current ratio of 1.04 and a debt-to-equity ratio of 23.42. The firm's 50 day moving average price is $6.33 and its 200 day moving average price is $6.43.

Westrock Coffee (NASDAQ:WEST - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.12) earnings per share for the quarter, beating analysts' consensus estimates of ($0.14) by $0.02. Westrock Coffee had a negative return on equity of 64.79% and a negative net margin of 9.28%.The firm had revenue of $280.86 million during the quarter, compared to analyst estimates of $238.34 million. As a group, equities analysts predict that Westrock Coffee Company will post -0.3 earnings per share for the current year.

Insider Buying and Selling at Westrock Coffee

In other Westrock Coffee news, Director Joe T. Ford bought 5,000 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were purchased at an average cost of $5.30 per share, for a total transaction of $26,500.00. Following the transaction, the director 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 filing with the Securities & Exchange Commission, which is available through this link. 27.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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