Westrock Coffee (NASDAQ:WEST - Get Free Report) Director Kenneth M. Parent purchased 62,735 shares of the company's stock in a transaction on Monday, December 2nd. The stock was acquired at an average price of $8.07 per share, for a total transaction of $506,271.45. Following the completion of the transaction, the director now owns 112,451 shares of the company's stock, valued at $907,479.57. This represents a 126.19 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Westrock Coffee Trading Down 7.1 %
Westrock Coffee stock opened at $6.92 on Friday. The firm's 50 day moving average price is $6.92 and its two-hundred day moving average price is $8.45. Westrock Coffee has a twelve month low of $5.28 and a twelve month high of $11.21. The company has a current ratio of 1.39, a quick ratio of 0.73 and a debt-to-equity ratio of 3.41.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Westrock Coffee by 23.2% in the 1st quarter. Vanguard Group Inc. now owns 2,538,327 shares of the company's stock worth $26,221,000 after buying an additional 478,088 shares in the last quarter. Simplicity Wealth LLC bought a new stake in shares of Westrock Coffee during the second quarter worth $230,000. Raymond James & Associates lifted its position in shares of Westrock Coffee by 2.1% during the second quarter. Raymond James & Associates now owns 269,174 shares of the company's stock worth $2,754,000 after purchasing an additional 5,520 shares in the last quarter. Catalina Capital Group LLC acquired a new stake in shares of Westrock Coffee in the second quarter valued at approximately $117,000. Finally, Bank of New York Mellon Corp lifted its holdings in Westrock Coffee by 32.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 97,210 shares of the company's stock worth $994,000 after buying an additional 23,610 shares in the last quarter. Institutional investors own 45.08% of the company's stock.
Analyst Upgrades and Downgrades
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Several research firms have issued reports on WEST. Craig Hallum started coverage on shares of Westrock Coffee in a research report on Monday, September 23rd. They issued a "buy" rating and a $13.00 price target on the stock. Telsey Advisory Group decreased their price target on Westrock Coffee from $14.00 to $10.00 and set an "outperform" rating for the company in a research report on Friday, November 8th. Finally, Truist Financial assumed coverage on Westrock Coffee in a research report on Monday, October 7th. They issued a "buy" rating and a $10.00 price target for the company. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $11.40.
Get Our Latest Analysis on Westrock Coffee
About Westrock Coffee
(
Get Free Report)
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.
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