Westrock Coffee Company $WEST Shares Newly Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 375,992 shares of Westrock Coffee in the second quarter, worth approximately $3.05 million and representing 0.39% of the company. Other institutional investors also initiated positions, with institutions collectively owning 45.08% of the stock.
• Analyst sentiment is mixed: three analysts rate Westrock Coffee a Buy, one a Hold, and one a Sell. The consensus rating is Hold, with an average price target of $10.00.
• Westrock Coffee reported a quarterly loss of $0.10 per share, missing estimates by $0.03, while revenue of $305.66 million also fell short of expectations. Shares opened at $8.12, compared with a 52-week range of $3.59 to $10.19.

Bank of America Corp DE acquired a new stake in shares of Westrock Coffee Company (NASDAQ:WEST - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 375,992 shares of the company's stock, valued at approximately $3,049,000. Bank of America Corp DE owned 0.39% of Westrock Coffee at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Group One Trading LLC bought a new stake in Westrock Coffee during the 2nd quarter valued at $27,000. Legal & General Group Plc bought a new stake in shares of Westrock Coffee during the 2nd quarter valued at $30,000. Quantbot Technologies LP purchased a new stake in Westrock Coffee during the 2nd quarter worth about $39,000. Waterloo Capital L.P. purchased a new stake in Westrock Coffee during the 4th quarter worth about $43,000. Finally, Summit Asset Management LLC bought a new position in Westrock Coffee in the 2nd quarter worth about $87,000. 45.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on WEST shares. Telsey Advisory Group lifted their target price on shares of Westrock Coffee from $10.00 to $11.00 and gave the company an "outperform" rating in a research report on Wednesday, August 19th. Benchmark reiterated a "buy" rating on shares of Westrock Coffee in a research report on Monday, August 31st. Weiss Ratings reissued a "sell (d-)" rating on shares of Westrock Coffee in a report on Tuesday, August 4th. Finally, Stifel Nicolaus set a $9.00 target price on Westrock Coffee in a research report on Friday, August 7th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $10.00.

Westrock Coffee Price Performance

WEST opened at $8.12 on Wednesday. The stock's 50 day simple moving average is $8.02 and its 200 day simple moving average is $7.21. The firm has a market cap of $792.76 million, a price-to-earnings ratio of -12.30 and a beta of 0.89. Westrock Coffee Company has a 1 year low of $3.59 and a 1 year high of $10.19.

Westrock Coffee (NASDAQ:WEST - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.03). Westrock Coffee had a negative net margin of 4.88% and a negative return on equity of 2,145.68%. The company had revenue of $305.66 million during the quarter, compared to the consensus estimate of $318.80 million. As a group, sell-side analysts anticipate that Westrock Coffee Company will post -0.22 EPS for the current year.

Westrock Coffee Company Profile

Westrock Coffee Company NASDAQ: WEST is a global provider of integrated coffee, tea, flavor, extract and ready-to-drink beverage solutions. The company sources, develops, manufactures and distributes beverage products for businesses seeking customized offerings and end-to-end supply-chain support.

Its products and services include roasted and soluble coffee, tea, ready-to-drink beverages, flavors, extracts and related ingredients. Westrock Coffee also provides beverage equipment, brewing systems, packaging, product development and logistics services.

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