Bank of New York Mellon Corp Has $454,000 Position in Westrock Coffee (NASDAQ:WEST)

Bank of New York Mellon Corp cut its stake in Westrock Coffee (NASDAQ:WEST) by 4.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 70,731 shares of the company’s stock after selling 2,947 shares during the period. Bank of New York Mellon Corp’s holdings in Westrock Coffee were worth $454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of WEST. First Horizon Advisors Inc. bought a new position in Westrock Coffee in the 4th quarter valued at about $96,000. Savant Capital LLC bought a new stake in shares of Westrock Coffee during the fourth quarter worth approximately $132,000. Stephens Inc. AR increased its stake in shares of Westrock Coffee by 54.8% during the fourth quarter. Stephens Inc. AR now owns 236,364 shares of the company’s stock worth $1,517,000 after purchasing an additional 83,647 shares during the period. DAVENPORT & Co LLC increased its stake in shares of Westrock Coffee by 15.7% during the fourth quarter. DAVENPORT & Co LLC now owns 238,675 shares of the company’s stock worth $1,532,000 after purchasing an additional 32,325 shares during the period. Finally, Blue Trust Inc. lifted its holdings in Westrock Coffee by 62.7% during the 4th quarter. Blue Trust Inc. now owns 18,107 shares of the company’s stock worth $118,000 after purchasing an additional 6,981 shares during the last quarter. Institutional investors and hedge funds own 45.08% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on WEST shares. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $9.00 price objective on shares of Westrock Coffee in a report on Wednesday, March 12th. Benchmark reaffirmed a “buy” rating and set a $10.00 price target on shares of Westrock Coffee in a research report on Friday, March 14th.

Westrock Coffee Price Performance

Westrock Coffee stock opened at $7.25 on Friday. The stock’s fifty day moving average price is $6.58 and its two-hundred day moving average price is $6.75. The firm has a market cap of $683.15 million, a PE ratio of -8.43 and a beta of 0.59. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.39 and a quick ratio of 0.73. Westrock Coffee has a one year low of $5.28 and a one year high of $10.99.

Insider Buying and Selling

In other news, COO William A. Ford acquired 15,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was acquired at an average price of $6.45 per share, with a total value of $96,750.00. Following the completion of the transaction, the chief operating officer now directly owns 476,190 shares of the company’s stock, valued at $3,071,425.50. This trade represents a 3.25 % increase in their position. The acquisition 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 company insiders.

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.