The Manufacturers Life Insurance Company Increases Position in Westrock Coffee (NASDAQ:WEST)

The Manufacturers Life Insurance Company boosted its stake in shares of Westrock Coffee (NASDAQ:WEST) by 15.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 15,050 shares of the company’s stock after acquiring an additional 2,070 shares during the period. The Manufacturers Life Insurance Company’s holdings in Westrock Coffee were worth $154,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of WEST. EverSource Wealth Advisors LLC raised 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 during the period. ProShare Advisors LLC acquired a new position in shares of Westrock Coffee during the 2nd quarter worth about $39,000. Hexagon Capital Partners LLC purchased a new position in Westrock Coffee in the first quarter valued at approximately $41,000. Wolverine Asset Management LLC raised its stake in Westrock Coffee by 79.8% during the 2nd quarter. Wolverine Asset Management LLC now owns 4,100 shares of the company’s stock worth $42,000 after acquiring an additional 1,820 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Westrock Coffee during the first quarter worth about $117,000. Institutional investors and hedge funds own 45.08% of the company’s stock.

Westrock Coffee Trading Up 0.7 %

Shares of NASDAQ WEST opened at $6.85 on Friday. The stock has a market cap of $605.33 million, a price-to-earnings ratio of -12.45 and a beta of 0.39. The business has a 50 day simple moving average of $7.42 and a 200 day simple moving average of $9.20. The company has a debt-to-equity ratio of 4.05, a quick ratio of 0.67 and a current ratio of 1.31. Westrock Coffee has a 52 week low of $5.28 and a 52 week high of $11.21.

Westrock Coffee (NASDAQ:WEST) last released its earnings results on Thursday, August 8th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.16). The company had revenue of $208.39 million during 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 firm’s quarterly revenue was down 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.21) EPS. On average, research analysts predict that Westrock Coffee will post -0.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on WEST shares. Telsey Advisory Group restated an “outperform” rating and issued a $14.00 price objective on shares of Westrock Coffee in a research report on Friday, June 28th. Truist Financial assumed coverage on shares of Westrock Coffee in a research report on Monday, October 7th. They set a “buy” rating and a $10.00 target price for the company. Finally, Craig Hallum initiated coverage on Westrock Coffee in a research note on Monday, September 23rd. They set a “buy” rating and a $13.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Westrock Coffee presently has an average rating of “Buy” and an average price target of $12.20.

Insider Buying and Selling at Westrock Coffee

In other Westrock Coffee news, Director Joe T. Ford bought 5,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average cost of $7.64 per share, with a total value of $38,200.00. Following the completion of the purchase, the director now owns 244,445 shares in the company, valued at approximately $1,867,559.80. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, major shareholder Hf Direct Investments Pool, Ll sold 31,869 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $10.05, for a total transaction of $320,283.45. Following the sale, the insider now owns 12,713,368 shares of the company’s stock, valued at $127,769,348.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Joe T. Ford purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average cost of $7.64 per share, with a total value of $38,200.00. Following the acquisition, the director now owns 244,445 shares in the company, valued at $1,867,559.80. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 11,092 shares of company stock valued at $81,546 and have sold 95,688 shares valued at $963,831. Insiders own 42.10% of the company’s stock.

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.