Intech Investment Management LLC Invests $71,000 in Westrock Coffee (NASDAQ:WEST)

Intech Investment Management LLC acquired a new stake in shares of Westrock Coffee (NASDAQ:WEST) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,895 shares of the company’s stock, valued at approximately $71,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its position in Westrock Coffee by 69.6% during 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 during the period. Wolverine Asset Management LLC grew its holdings in Westrock Coffee by 79.8% during the second quarter. Wolverine Asset Management LLC now owns 4,100 shares of the company’s stock valued at $42,000 after purchasing an additional 1,820 shares during the period. Gilliland Jeter Wealth Management LLC increased its position in Westrock Coffee by 81.9% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 4,547 shares of the company’s stock worth $30,000 after buying an additional 2,047 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Westrock Coffee by 15.9% in the second quarter. The Manufacturers Life Insurance Company now owns 15,050 shares of the company’s stock worth $154,000 after buying an additional 2,070 shares during the period. Finally, Stephens Inc. AR lifted its position in shares of Westrock Coffee by 1.7% during the 3rd quarter. Stephens Inc. AR now owns 152,717 shares of the company’s stock valued at $993,000 after buying an additional 2,500 shares in the last quarter. 45.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Westrock Coffee

In other Westrock Coffee news, Director Joe T. Ford bought 5,000 shares of Westrock Coffee stock in a transaction on Thursday, September 12th. The shares were acquired at an average price of $6.97 per share, for a total transaction of $34,850.00. Following the completion of the purchase, the director now directly owns 249,445 shares in the company, valued at approximately $1,738,631.65. This trade represents a 2.05 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kenneth M. Parent bought 62,735 shares of the stock in a transaction dated Monday, December 2nd. The shares were bought at an average cost of $8.07 per share, with a total value of $506,271.45. Following the completion of the purchase, the director now directly 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 disclosure for this purchase can be found here. 42.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WEST. Truist Financial initiated coverage on shares of Westrock Coffee in a research note on Monday, October 7th. They issued a “buy” rating and a $10.00 price objective for the company. Telsey Advisory Group dropped 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 report on Friday, November 8th. Finally, Craig Hallum started coverage on Westrock Coffee in a report on Monday, September 23rd. They issued a “buy” rating and a $13.00 target price on the stock. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Westrock Coffee presently has an average rating of “Buy” and a consensus target price of $11.40.

Westrock Coffee Stock Down 7.1 %

Shares of NASDAQ:WEST opened at $6.92 on Monday. The company has a market cap of $651.78 million, a price-to-earnings ratio of -8.05 and a beta of 0.49. The company has a current ratio of 1.39, a quick ratio of 0.73 and a debt-to-equity ratio of 3.41. The company has a 50-day moving average price of $6.92 and a 200 day moving average price of $8.42. Westrock Coffee has a 12 month low of $5.28 and a 12 month 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.