Westrock Coffee (NASDAQ:WEST) Shares Gap Up Following Insider Buying Activity

Westrock Coffee (NASDAQ:WEST) shares gapped up before the market opened on Monday following insider buying activity. The stock had previously closed at $6.92, but opened at $7.53. Westrock Coffee shares last traded at $7.59, with a volume of 68,445 shares trading hands.

Specifically, Director Kenneth M. Parent bought 62,735 shares of the stock in a transaction on Monday, December 2nd. The shares were bought at an average cost of $8.07 per share, for a total transaction of $506,271.45. Following the completion of the transaction, the director now owns 112,451 shares of the company’s stock, valued at $907,479.57. This represents a 126.19 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Upgrades and Downgrades

WEST has been the topic of several recent analyst reports. Telsey Advisory Group lowered their target price 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. Truist Financial began coverage on shares of Westrock Coffee in a research note on Monday, October 7th. They set a “buy” rating and a $10.00 price objective on the stock. Finally, Craig Hallum began coverage on shares of Westrock Coffee in a research note on Monday, September 23rd. They set a “buy” rating and a $13.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Westrock Coffee has a consensus rating of “Buy” and a consensus target price of $11.40.

Westrock Coffee Stock Performance

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 stock has a 50-day simple moving average of $6.96 and a 200-day simple moving average of $8.38. The company has a market capitalization of $680.05 million, a price-to-earnings ratio of -8.40 and a beta of 0.48.

Institutional Investors Weigh In On Westrock Coffee

A number of institutional investors have recently made changes to their positions in the company. Brown Brothers Harriman & Co. acquired a new position in Westrock Coffee during the 2nd quarter valued at approximately $19,199,000. Principal Street Partners LLC increased its position in Westrock Coffee by 100.0% in the 3rd quarter. Principal Street Partners LLC now owns 391,680 shares of the company’s stock valued at $2,546,000 after acquiring an additional 195,800 shares during the period. Repertoire Partners LP acquired a new position in Westrock Coffee during the 3rd quarter worth $650,000. The Manufacturers Life Insurance Company increased its stake in Westrock Coffee by 15.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,050 shares of the company’s stock valued at $154,000 after buying an additional 2,070 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of Westrock Coffee by 76.0% in the 2nd quarter. American Century Companies Inc. now owns 46,615 shares of the company’s stock worth $477,000 after acquiring an additional 20,129 shares during the period. 45.08% of the stock is currently owned by institutional investors.

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.