Westrock Coffee (NASDAQ:WEST) Shares Bought by State Street Corp

State Street Corp lifted its holdings in shares of Westrock Coffee (NASDAQ:WEST) by 2.0% in the third quarter, HoldingsChannel reports. The firm owned 649,553 shares of the company’s stock after acquiring an additional 12,937 shares during the period. State Street Corp’s holdings in Westrock Coffee were worth $4,222,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. NFC Investments LLC boosted its stake in shares of Westrock Coffee by 17.0% during the third quarter. NFC Investments LLC now owns 4,044,207 shares of the company’s stock valued at $26,286,000 after acquiring an additional 588,160 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new position in Westrock Coffee in the 2nd quarter valued at $19,199,000. Principal Street Partners LLC lifted its stake in shares of Westrock Coffee by 100.0% during the 3rd quarter. Principal Street Partners LLC now owns 391,680 shares of the company’s stock worth $2,546,000 after purchasing an additional 195,800 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Westrock Coffee by 8.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 282,643 shares of the company’s stock worth $1,837,000 after purchasing an additional 22,945 shares during the last quarter. Finally, Raymond James & Associates grew its position in shares of Westrock Coffee by 2.1% in the second quarter. Raymond James & Associates now owns 269,174 shares of the company’s stock valued at $2,754,000 after purchasing an additional 5,520 shares during the period. Hedge funds and other institutional investors own 45.08% of the company’s stock.

Westrock Coffee Stock Performance

Shares of WEST stock opened at $6.58 on Monday. The company’s fifty day simple moving average is $7.09 and its 200-day simple moving average is $8.04. The company has a current ratio of 1.39, a quick ratio of 0.73 and a debt-to-equity ratio of 3.41. Westrock Coffee has a 52 week low of $5.28 and a 52 week high of $11.21. The company has a market cap of $619.76 million, a PE ratio of -7.65 and a beta of 0.49.

Insider Buying and Selling at Westrock Coffee

In related news, Director Kenneth M. Parent bought 62,735 shares of the stock in a transaction dated 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 purchase, the director now owns 112,451 shares in the company, valued at $907,479.57. This represents a 126.19 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 42.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WEST. Truist Financial assumed coverage on Westrock Coffee in a research report on Monday, October 7th. They set a “buy” rating and a $10.00 target price on the stock. Craig Hallum started coverage on shares of Westrock Coffee in a research report on Monday, September 23rd. They set a “buy” rating and a $13.00 price target for the company. Finally, Telsey Advisory Group lowered their price objective on shares of Westrock Coffee from $14.00 to $10.00 and set an “outperform” rating for the company in a research note on Friday, November 8th.

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.