Westrock Coffee (NASDAQ:WEST) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. lifted its stake in Westrock Coffee (NASDAQ:WEST) by 76.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 46,615 shares of the company’s stock after purchasing an additional 20,129 shares during the quarter. American Century Companies Inc. owned 0.05% of Westrock Coffee worth $477,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WEST. Vanguard Group Inc. grew its holdings in Westrock Coffee by 23.2% in the 1st quarter. Vanguard Group Inc. now owns 2,538,327 shares of the company’s stock valued at $26,221,000 after buying an additional 478,088 shares during the last quarter. Raymond James & Associates raised its holdings in Westrock Coffee by 2.1% during the 2nd 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 during the last quarter. Gamco Investors INC. ET AL boosted its position in shares of Westrock Coffee by 5.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 256,650 shares of the company’s stock worth $2,651,000 after purchasing an additional 13,000 shares during the last quarter. Stephens Inc. AR raised its position in shares of Westrock Coffee by 197.7% in the 4th quarter. Stephens Inc. AR now owns 138,532 shares of the company’s stock valued at $1,414,000 after acquiring an additional 92,000 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Westrock Coffee by 32.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 97,210 shares of the company’s stock valued at $994,000 after buying an additional 23,610 shares in the last quarter. 45.08% of the stock is currently owned by hedge funds and other institutional investors.

Westrock Coffee Stock Performance

NASDAQ WEST opened at $6.22 on Thursday. The company has a 50-day simple moving average of $8.27 and a 200 day simple moving average of $9.52. Westrock Coffee has a 52-week low of $6.08 and a 52-week high of $11.21. The company has a market capitalization of $549.66 million, a PE ratio of -8.89 and a beta of 0.41. The company has a debt-to-equity ratio of 4.05, a quick ratio of 0.67 and a current ratio of 1.31.

Westrock Coffee (NASDAQ:WEST) last announced its earnings results on Thursday, August 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.16). Westrock Coffee had a negative net margin of 5.37% and a negative return on equity of 18.20%. The company had revenue of $208.39 million for the quarter, compared to the consensus estimate of $214.40 million. During the same quarter in the previous year, the firm earned ($0.21) earnings per share. The company’s revenue for the quarter was down 7.3% compared to the same quarter last year. On average, research analysts predict that Westrock Coffee will post -0.2 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on WEST shares. Telsey Advisory Group reissued an “outperform” rating and set a $14.00 price target on shares of Westrock Coffee in a research report on Friday, June 28th. Craig Hallum initiated coverage on shares of Westrock Coffee in a research note on Monday, September 23rd. They issued a “buy” rating and a $13.00 price objective for the company.

Insiders Place Their Bets

In other Westrock Coffee news, major shareholder Hf Direct Investments Pool, Ll sold 33,592 shares of the business’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $10.03, for a total value of $336,927.76. Following the sale, the insider now directly owns 12,974,408 shares of the company’s stock, valued at $130,133,312.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Joe T. Ford acquired 5,000 shares of Westrock Coffee stock in a transaction on Thursday, September 12th. The shares were acquired at an average price of $6.97 per share, with a total value of $34,850.00. Following the purchase, the director now directly owns 249,445 shares in the company, valued at approximately $1,738,631.65. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Hf Direct Investments Pool, Ll sold 33,592 shares of Westrock Coffee stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $10.03, for a total transaction of $336,927.76. Following the transaction, the insider now directly owns 12,974,408 shares of the company’s stock, valued at $130,133,312.24. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 11,092 shares of company stock worth $81,546 and sold 184,451 shares worth $1,856,419. 42.10% of the stock is owned by corporate insiders.

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.