Intech Investment Management LLC Acquires New Shares in Westrock Coffee (NASDAQ:WEST)

Intech Investment Management LLC purchased a new stake in Westrock Coffee (NASDAQ:WEST) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 10,895 shares of the company’s stock, valued at approximately $71,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Brown Brothers Harriman & Co. bought a new stake in Westrock Coffee during the second quarter valued at about $19,199,000. Quest Partners LLC lifted its holdings in shares of Westrock Coffee by 32,869.0% during the 3rd quarter. Quest Partners LLC now owns 60,663 shares of the company’s stock valued at $394,000 after purchasing an additional 60,479 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Westrock Coffee in the 2nd quarter worth $443,000. Legacy Capital Wealth Partners LLC purchased a new position in Westrock Coffee during the 2nd quarter worth $297,000. Finally, Bank of New York Mellon Corp boosted its holdings in Westrock Coffee by 32.1% in the second quarter. Bank of New York Mellon Corp now owns 97,210 shares of the company’s stock worth $994,000 after acquiring an additional 23,610 shares in the last quarter. 45.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Kenneth M. Parent acquired 62,735 shares of the business’s stock in a transaction on 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 purchase, the director now owns 112,451 shares in the company, valued at approximately $907,479.57. This represents a 126.19 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joe T. Ford purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were purchased at an average price of $6.97 per share, with a total value of $34,850.00. Following the completion of the transaction, the director now directly owns 249,445 shares of the company’s stock, valued at $1,738,631.65. This represents a 2.05 % increase in their position. The disclosure for this purchase can be found here. 42.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Westrock Coffee Trading Down 7.1 %

WEST stock opened at $6.92 on Monday. Westrock Coffee has a 52-week low of $5.28 and a 52-week high of $11.21. The company has a quick ratio of 0.73, a current ratio of 1.39 and a debt-to-equity ratio of 3.41. The firm has a market cap of $651.78 million, a P/E ratio of -8.05 and a beta of 0.49. The company’s 50-day simple moving average is $6.92 and its 200-day simple moving average is $8.42.

Westrock Coffee Company 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.