Principal Street Partners LLC Has $2 Million Stock Holdings in Westrock Coffee (NASDAQ:WEST)

Principal Street Partners LLC cut its holdings in shares of Westrock Coffee (NASDAQ:WEST - Free Report) by 49.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 195,800 shares of the company's stock after selling 192,894 shares during the quarter. Principal Street Partners LLC owned approximately 0.22% of Westrock Coffee worth $1,999,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Raymond James & Associates increased its holdings in Westrock Coffee by 70.0% in the third quarter. Raymond James & Associates now owns 272,544 shares of the company's stock valued at $2,415,000 after buying an additional 112,254 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Westrock Coffee by 15.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 82,366 shares of the company's stock valued at $730,000 after acquiring an additional 11,222 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Westrock Coffee by 24.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,151 shares of the company's stock valued at $90,000 after acquiring an additional 2,018 shares in the last quarter. First Horizon Advisors Inc. bought a new position in Westrock Coffee during the third quarter worth $25,000. Finally, Panagora Asset Management Inc. acquired a new position in Westrock Coffee in the third quarter worth $98,000. 45.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on WEST. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $13.00 price target on shares of Westrock Coffee in a report on Monday, May 6th. Benchmark increased their price target on Westrock Coffee from $11.00 to $12.00 and gave the stock a "buy" rating in a research report on Wednesday, March 13th.

Westrock Coffee Stock Performance

Westrock Coffee stock traded down $0.17 during midday trading on Friday, reaching $10.50. 217,351 shares of the stock traded hands, compared to its average volume of 138,285. Westrock Coffee has a fifty-two week low of $6.88 and a fifty-two week high of $11.91. The company has a current ratio of 1.31, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. The firm has a market cap of $924.32 million, a price-to-earnings ratio of -15.00 and a beta of 0.46. The firm has a fifty day moving average price of $10.06 and a two-hundred day moving average price of $9.79.

Westrock Coffee (NASDAQ:WEST - Get Free Report) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.06). Westrock Coffee had a negative return on equity of 43.76% and a negative net margin of 6.33%. The business had revenue of $214.97 million during the quarter, compared to the consensus estimate of $222.20 million. On average, equities research analysts forecast that Westrock Coffee will post -0.04 earnings per share for the current year.

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.