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

State Street Corp boosted its stake in shares of Westrock Coffee (NASDAQ:WEST) by 2.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 649,553 shares of the company’s stock after buying an additional 12,937 shares during the period. State Street Corp owned 0.74% of Westrock Coffee worth $4,222,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Gilliland Jeter Wealth Management LLC increased its position in Westrock Coffee by 81.9% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 4,547 shares of the company’s stock worth $30,000 after purchasing an additional 2,047 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Westrock Coffee by 69.6% during the second quarter. EverSource Wealth Advisors LLC now owns 3,520 shares of the company’s stock worth $35,000 after purchasing an additional 1,444 shares in the last quarter. ProShare Advisors LLC purchased a new stake in Westrock Coffee during the 2nd quarter worth approximately $39,000. Wolverine Asset Management LLC raised its stake 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 acquiring an additional 1,820 shares in the last quarter. Finally, Atom Investors LP purchased a new position in shares of Westrock Coffee in the 3rd quarter valued at about $70,000. 45.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, Director Kenneth M. Parent bought 62,735 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was bought at an average cost of $8.07 per share, with a total value of $506,271.45. Following the completion of the acquisition, the director now owns 112,451 shares in the company, valued at approximately $907,479.57. This represents a 126.19 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 42.10% of the stock is currently owned by insiders.

Westrock Coffee Trading Down 2.9 %

Shares of Westrock Coffee stock opened at $6.58 on Monday. The company has a quick ratio of 0.73, a current ratio of 1.39 and a debt-to-equity ratio of 3.41. The firm has a market cap of $619.76 million, a price-to-earnings ratio of -7.65 and a beta of 0.49. Westrock Coffee has a 52-week low of $5.28 and a 52-week high of $11.21. The company’s 50-day simple moving average is $7.09 and its 200-day simple moving average is $8.04.

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.