Geode Capital Management LLC Buys 43,731 Shares of Westrock Coffee (NASDAQ:WEST)

Geode Capital Management LLC lifted its stake in shares of Westrock Coffee (NASDAQ:WEST) by 5.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 806,325 shares of the company’s stock after acquiring an additional 43,731 shares during the quarter. Geode Capital Management LLC owned approximately 0.91% of Westrock Coffee worth $5,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its holdings in Westrock Coffee by 69.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,520 shares of the company’s stock worth $35,000 after acquiring an additional 1,444 shares during the period. ProShare Advisors LLC acquired a new stake in Westrock Coffee during the second quarter worth approximately $39,000. Wolverine Asset Management LLC increased its holdings in Westrock Coffee by 79.8% in the second quarter. Wolverine Asset Management LLC now owns 4,100 shares of the company’s stock worth $42,000 after purchasing an additional 1,820 shares in the last quarter. Gilliland Jeter Wealth Management LLC lifted its stake 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 valued at $30,000 after buying an additional 2,047 shares during the period. Finally, Atom Investors LP bought a new position in shares of Westrock Coffee during the 3rd quarter worth approximately $70,000. 45.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Westrock Coffee Stock Up 3.8 %

Shares of NASDAQ WEST opened at $6.59 on Friday. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.39 and a quick ratio of 0.73. The stock has a market capitalization of $620.70 million, a PE ratio of -7.66 and a beta of 0.55. Westrock Coffee has a one year low of $5.28 and a one year high of $11.21. The business’s fifty day moving average price is $7.04 and its 200-day moving average price is $7.95.

Insider Buying and Selling at Westrock Coffee

In other Westrock Coffee news, Director Kenneth M. Parent bought 62,735 shares of Westrock Coffee 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 completion of the transaction, the director now directly owns 112,451 shares in the company, valued at $907,479.57. This represents a 126.19 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available 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.