Fmr LLC Has $11.67 Million Stock Position in Westrock Coffee (NASDAQ:WEST)

Fmr LLC cut its holdings in Westrock Coffee (NASDAQ:WEST) by 0.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,795,867 shares of the company’s stock after selling 3,784 shares during the period. Fmr LLC’s holdings in Westrock Coffee were worth $11,673,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Brown Brothers Harriman & Co. acquired a new position in shares of Westrock Coffee during the 2nd quarter worth approximately $19,199,000. Quest Partners LLC grew its position in Westrock Coffee by 32,869.0% during the third quarter. Quest Partners LLC now owns 60,663 shares of the company’s stock worth $394,000 after buying an additional 60,479 shares in the last quarter. Marshall Wace LLP bought a new position in Westrock Coffee during the 2nd quarter worth $443,000. Legacy Capital Wealth Partners LLC acquired a new position in Westrock Coffee in the 2nd quarter valued at $297,000. Finally, Bank of New York Mellon Corp lifted its position in shares of 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 valued at $994,000 after acquiring an additional 23,610 shares during the period. 45.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Truist Financial assumed coverage on Westrock Coffee in a research note on Monday, October 7th. They issued a “buy” rating and a $10.00 price target for the company. Craig Hallum began coverage on shares of Westrock Coffee in a research report on Monday, September 23rd. They issued a “buy” rating and a $13.00 target price for the company. Finally, Telsey Advisory Group reduced their price target on shares of Westrock Coffee from $14.00 to $10.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $11.40.

Insider Activity at Westrock Coffee

In related news, Director Kenneth M. Parent purchased 62,735 shares of the stock in a transaction dated Monday, December 2nd. The stock was bought at an average cost of $8.07 per share, for a total transaction of $506,271.45. Following the completion of the acquisition, the director now owns 112,451 shares of the company’s stock, valued at approximately $907,479.57. This represents a 126.19 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 42.10% of the stock is owned by insiders.

Westrock Coffee Trading Down 1.9 %

WEST opened at $7.08 on Thursday. The company has a market cap of $666.87 million, a P/E ratio of -8.23 and a beta of 0.48. The company has a current ratio of 1.39, a quick ratio of 0.73 and a debt-to-equity ratio of 3.41. The company’s 50 day moving average is $6.97 and its 200-day moving average is $8.37. Westrock Coffee has a 1-year low of $5.28 and a 1-year high of $11.21.

About Westrock Coffee

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.