Charles Schwab Investment Management Inc. Has $1.84 Million Stake in Westrock Coffee (NASDAQ:WEST)

Charles Schwab Investment Management Inc. lifted its holdings in shares of Westrock Coffee (NASDAQ:WEST) by 8.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 282,643 shares of the company’s stock after purchasing an additional 22,945 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.32% of Westrock Coffee worth $1,837,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Brown Brothers Harriman & Co. acquired a new stake in Westrock Coffee during the 2nd quarter worth approximately $19,199,000. Intech Investment Management LLC acquired a new stake in shares of Westrock Coffee during the third quarter worth $71,000. The Manufacturers Life Insurance Company lifted its position 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 valued at $154,000 after acquiring an additional 2,070 shares in the last quarter. American Century Companies Inc. boosted its stake in 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 purchasing an additional 20,129 shares during the period. Finally, Legacy Capital Wealth Partners LLC bought a new position in Westrock Coffee during the 2nd quarter worth about $297,000. Institutional investors own 45.08% of the company’s stock.

Westrock Coffee Stock Performance

WEST opened at $7.09 on Tuesday. The business’s 50-day simple moving average is $7.01 and its 200 day simple moving average is $8.30. Westrock Coffee has a 52-week low of $5.28 and a 52-week high of $11.21. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.73 and a current ratio of 1.39. The firm has a market capitalization of $667.79 million, a PE ratio of -8.22 and a beta of 0.49.

Analyst Upgrades and Downgrades

WEST has been the topic of a number of research reports. Craig Hallum started coverage on Westrock Coffee in a report on Monday, September 23rd. They issued a “buy” rating and a $13.00 price target on the stock. Telsey Advisory Group reduced their price target on Westrock Coffee from $14.00 to $10.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Finally, Truist Financial started coverage on shares of Westrock Coffee in a report on Monday, October 7th. They issued a “buy” rating and a $10.00 price objective on the stock.

Insiders Place Their Bets

In other news, Director Kenneth M. Parent bought 62,735 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was acquired at an average cost of $8.07 per share, for a total transaction of $506,271.45. Following the purchase, the director now owns 112,451 shares of the company’s stock, valued at approximately $907,479.57. This trade represents a 126.19 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 42.10% of the company’s stock.

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.