Craig Hallum Begins Coverage on Westrock Coffee (NASDAQ:WEST)

Craig Hallum initiated coverage on shares of Westrock Coffee (NASDAQ:WEST) in a research report report published on Monday, MarketBeat.com reports. The brokerage issued a buy rating and a $13.00 target price on the stock.

Separately, Telsey Advisory Group restated an outperform rating and issued a $14.00 price objective on shares of Westrock Coffee in a report on Friday, June 28th.

Westrock Coffee Trading Down 4.0 %

WEST opened at $6.62 on Monday. The firm has a market cap of $585.01 million, a P/E ratio of -9.46 and a beta of 0.41. Westrock Coffee has a 12 month low of $6.30 and a 12 month high of $11.21. The stock has a 50-day moving average of $8.62 and a 200 day moving average of $9.63. The company has a current ratio of 1.31, a quick ratio of 0.67 and a debt-to-equity ratio of 4.05.

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

Insider Transactions at Westrock Coffee

In other news, CFO Thomas Christopher Pledger sold 6,600 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $10.00, for a total value of $66,000.00. Following the sale, the chief financial officer now directly owns 466,673 shares of the company’s stock, valued at approximately $4,666,730. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Hf Direct Investments Pool, Ll sold 11,901 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $10.03, for a total value of $119,367.03. Following the completion of the sale, the insider now directly owns 12,943,758 shares in the company, valued at $129,825,892.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Thomas Christopher Pledger sold 6,600 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $10.00, for a total transaction of $66,000.00. Following the transaction, the chief financial officer now owns 466,673 shares of the company’s stock, valued at $4,666,730. The disclosure for this sale can be found here. Over the last three months, insiders bought 11,092 shares of company stock worth $81,546 and sold 184,451 shares worth $1,856,419. Company insiders own 42.10% of the company’s stock.

Institutional Investors Weigh In On Westrock Coffee

Several large investors have recently bought and sold shares of WEST. The Manufacturers Life Insurance Company lifted its stake in Westrock Coffee by 15.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,050 shares of the company’s stock worth $154,000 after purchasing an additional 2,070 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Westrock Coffee during the 2nd quarter valued at approximately $443,000. EverSource Wealth Advisors LLC lifted its holdings in Westrock Coffee by 69.6% in the second quarter. EverSource Wealth Advisors LLC now owns 3,520 shares of the company’s stock valued at $35,000 after acquiring an additional 1,444 shares during the last quarter. ProShare Advisors LLC acquired a new position in shares of Westrock Coffee in the 2nd quarter valued at $39,000. Finally, Brown Brothers Harriman & Co. purchased a new position in shares of Westrock Coffee during the 2nd quarter worth $19,199,000. 45.08% of the stock is currently owned by hedge funds and other institutional investors.

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.