Geode Capital Management LLC Increases Stock Holdings in Westrock Coffee (NASDAQ:WEST)

Geode Capital Management LLC raised its stake in shares of Westrock Coffee (NASDAQ:WEST) by 5.7% during the third quarter, Holdings Channel reports. The firm owned 806,325 shares of the company’s stock after buying an additional 43,731 shares during the quarter. Geode Capital Management LLC’s holdings in Westrock Coffee were worth $5,242,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in WEST. Brown Brothers Harriman & Co. bought a new stake in Westrock Coffee during the 2nd quarter valued at approximately $19,199,000. NFC Investments LLC lifted its stake in shares of Westrock Coffee by 17.0% in the 3rd quarter. NFC Investments LLC now owns 4,044,207 shares of the company’s stock valued at $26,286,000 after purchasing an additional 588,160 shares during the period. Principal Street Partners LLC grew its stake in Westrock Coffee by 100.0% in the third quarter. Principal Street Partners LLC now owns 391,680 shares of the company’s stock worth $2,546,000 after purchasing an additional 195,800 shares during the period. Repertoire Partners LP bought a new position in Westrock Coffee in the third quarter worth $650,000. Finally, Quest Partners LLC lifted its position in Westrock Coffee by 32,869.0% during the third quarter. Quest Partners LLC now owns 60,663 shares of the company’s stock valued at $394,000 after buying an additional 60,479 shares during the period. 45.08% of the stock is currently owned by institutional investors.

Insider Activity at Westrock Coffee

In other Westrock Coffee news, Director Kenneth M. Parent purchased 62,735 shares of the company’s stock in a transaction 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 directly owns 112,451 shares of the company’s stock, valued at $907,479.57. This trade represents a 126.19 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 42.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

WEST has been the subject of a number of recent research reports. 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 target for the company. Truist Financial assumed coverage on shares of Westrock Coffee in a report on Monday, October 7th. They set a “buy” rating and a $10.00 target price for the company. Finally, Telsey Advisory Group cut their price target on Westrock Coffee from $14.00 to $10.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th.

Westrock Coffee Price Performance

Shares of Westrock Coffee stock opened at $6.59 on Friday. The stock has a market cap of $620.70 million, a P/E ratio of -7.66 and a beta of 0.55. 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 stock’s fifty day moving average is $7.04 and its 200 day moving average is $7.95. Westrock Coffee has a one year low of $5.28 and a one year high of $11.21.

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.