Zazove Associates LLC Has $5.57 Million Stock Position in Westrock Coffee Company (NASDAQ:WEST)

Key Points

• Zazove Associates LLC has reduced its stake in Westrock Coffee Company by 11.6%, owning approximately 0.82% of the company after selling 101,574 shares.
• Despite Zazove's decrease, several institutional investors such as Vanguard Group Inc. and Millennium Management LLC have increased their stakes, indicating strong interest in Westrock Coffee.
• The stock has faced analyst downgrades, with Stifel Nicolaus lowering its target price from $12.00 to $10.00 while maintaining a "buy" rating.

Zazove Associates LLC trimmed its stake in shares of Westrock Coffee Company (NASDAQ:WEST - Free Report) by 11.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 771,505 shares of the company's stock after selling 101,574 shares during the quarter. Zazove Associates LLC owned approximately 0.82% of Westrock Coffee worth $5,570,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Westrock Coffee by 7.7% during the fourth quarter. Vanguard Group Inc. now owns 2,812,993 shares of the company's stock worth $18,059,000 after purchasing an additional 199,939 shares during the period. Geode Capital Management LLC raised its holdings in shares of Westrock Coffee by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 841,226 shares of the company's stock worth $5,402,000 after purchasing an additional 34,901 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Westrock Coffee by 47.6% during the fourth quarter. Wells Fargo & Company MN now owns 16,332 shares of the company's stock worth $105,000 after purchasing an additional 5,264 shares during the period. Envestnet Asset Management Inc. acquired a new stake in shares of Westrock Coffee during the fourth quarter worth $95,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Westrock Coffee during the fourth quarter worth $840,000. 45.08% of the stock is currently owned by institutional investors.

Westrock Coffee Price Performance

WEST traded down $0.08 on Friday, reaching $6.39. The company had a trading volume of 252,952 shares, compared to its average volume of 486,808. The company has a fifty day moving average of $6.48 and a 200-day moving average of $6.51. The company has a market capitalization of $604.75 million, a P/E ratio of -6.80 and a beta of 0.53. The company has a current ratio of 1.04, a quick ratio of 0.57 and a debt-to-equity ratio of 23.42. Westrock Coffee Company has a one year low of $5.28 and a one year high of $9.70.

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $10.00 price objective on shares of Westrock Coffee in a report on Tuesday, August 5th. Wall Street Zen cut shares of Westrock Coffee from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, Stifel Nicolaus dropped their price objective on shares of Westrock Coffee from $12.00 to $10.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat.com, Westrock Coffee presently has a consensus rating of "Moderate Buy" and an average target price of $10.60.

Westrock Coffee 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.