Fmr LLC Has $11.67 Million Position in Westrock Coffee (NASDAQ:WEST)

Fmr LLC trimmed its position in Westrock Coffee (NASDAQ:WEST) by 0.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,795,867 shares of the company’s stock after selling 3,784 shares during the period. Fmr LLC owned approximately 2.03% of Westrock Coffee worth $11,673,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of WEST. Gilliland Jeter Wealth Management LLC lifted its holdings in shares of Westrock Coffee by 81.9% during the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 4,547 shares of the company’s stock valued at $30,000 after purchasing an additional 2,047 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake 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 buying an additional 1,444 shares in the last quarter. ProShare Advisors LLC acquired a new position in shares of Westrock Coffee in the second quarter valued at approximately $39,000. Wolverine Asset Management LLC boosted its holdings in shares of Westrock Coffee by 79.8% in the second quarter. Wolverine Asset Management LLC now owns 4,100 shares of the company’s stock valued at $42,000 after buying an additional 1,820 shares during the period. Finally, Intech Investment Management LLC bought a new stake in shares of Westrock Coffee during the third quarter worth $71,000. Institutional investors own 45.08% of the company’s stock.

Insider Buying and Selling

In other news, Director Kenneth M. Parent acquired 62,735 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was bought at an average price of $8.07 per share, with a total value of $506,271.45. Following the transaction, the director now directly owns 112,451 shares in the company, valued at approximately $907,479.57. The trade was a 126.19 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 42.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on WEST shares. Telsey Advisory Group reduced their target price 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. Truist Financial started coverage on Westrock Coffee in a report on Monday, October 7th. They issued a “buy” rating and a $10.00 price target on the stock. Finally, Craig Hallum assumed coverage on Westrock Coffee in a report on Monday, September 23rd. They set a “buy” rating and a $13.00 price objective for the company. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Westrock Coffee currently has an average rating of “Buy” and an average target price of $11.40.

Westrock Coffee Trading Down 1.9 %

Shares of NASDAQ:WEST opened at $7.08 on Thursday. The stock has a market capitalization of $666.87 million, a PE ratio of -8.23 and a beta of 0.48. The company’s 50-day moving average price is $6.97 and its two-hundred day moving average price is $8.37. 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 $11.21.

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.