Gilliland Jeter Wealth Management LLC Acquires 2,047 Shares of Westrock Coffee (NASDAQ:WEST)

Gilliland Jeter Wealth Management LLC increased its position in shares of Westrock Coffee (NASDAQ:WEST) by 81.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,547 shares of the company’s stock after buying an additional 2,047 shares during the quarter. Gilliland Jeter Wealth Management LLC’s holdings in Westrock Coffee were worth $30,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. EverSource Wealth Advisors LLC raised its stake in Westrock Coffee by 69.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,520 shares of the company’s stock valued at $35,000 after purchasing an additional 1,444 shares during the last quarter. ProShare Advisors LLC acquired a new position in Westrock Coffee during the 2nd quarter valued at $39,000. Hexagon Capital Partners LLC acquired a new position in Westrock Coffee during the 1st quarter valued at $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 valued at $42,000 after purchasing an additional 1,820 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in Westrock Coffee by 637.3% during the 3rd quarter. Blue Trust Inc. now owns 11,126 shares of the company’s stock valued at $72,000 after purchasing an additional 9,617 shares during the last quarter. 45.08% of the stock is owned by institutional investors.

Westrock Coffee Stock Up 0.7 %

Shares of NASDAQ:WEST opened at $6.85 on Monday. Westrock Coffee has a one year low of $5.28 and a one year high of $11.21. The company has a 50 day moving average of $7.42 and a 200-day moving average of $9.19. The company has a debt-to-equity ratio of 4.05, a current ratio of 1.31 and a quick ratio of 0.67. The stock has a market cap of $603.03 million, a price-to-earnings ratio of -9.79 and a beta of 0.39.

Westrock Coffee (NASDAQ:WEST) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.16). The firm had revenue of $208.39 million for the quarter, compared to analyst estimates 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 revenue for the quarter was down 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.21) EPS. On average, sell-side analysts forecast that Westrock Coffee will post -0.2 earnings per share for the current year.

Analysts Set New Price Targets

WEST has been the subject of a number of recent research reports. 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 restated an “outperform” rating and issued a $14.00 price objective on shares of Westrock Coffee in a research note on Friday, June 28th. Finally, Craig Hallum initiated 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. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $12.20.

Insider Activity at Westrock Coffee

In other news, Director Joe T. Ford acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of $7.64 per share, for a total transaction of $38,200.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Westrock Coffee news, major shareholder Hf Direct Investments Pool, Ll sold 31,869 shares of Westrock Coffee stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $10.05, for a total value of $320,283.45. Following the transaction, the insider now owns 12,713,368 shares of the company’s stock, valued at approximately $127,769,348.40. The trade was 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 acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of $7.64 per share, for a total transaction of $38,200.00. Following the transaction, the director now owns 244,445 shares of the company’s stock, valued at $1,867,559.80. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 11,092 shares of company stock worth $81,546 and sold 77,116 shares worth $777,182. Corporate 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.