Raymond James & Associates Has $2.41 Million Stake in Westrock Coffee (NASDAQ:WEST)

Raymond James & Associates decreased its stake in Westrock Coffee (NASDAQ:WEST) by 13.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 235,642 shares of the company’s stock after selling 36,902 shares during the quarter. Raymond James & Associates’ holdings in Westrock Coffee were worth $2,406,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. acquired a new position in Westrock Coffee in the third quarter valued at about $25,000. Gladius Capital Management LP acquired a new position in Westrock Coffee in the third quarter valued at about $29,000. Asset Advisors Investment Management LLC acquired a new position in Westrock Coffee in the third quarter valued at about $89,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Westrock Coffee by 24.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,151 shares of the company’s stock valued at $90,000 after buying an additional 2,018 shares during the period. Finally, Panagora Asset Management Inc. acquired a new position in Westrock Coffee in the third quarter valued at about $98,000. Institutional investors and hedge funds own 45.08% of the company’s stock.

Westrock Coffee Stock Down 0.1 %

Shares of Westrock Coffee stock opened at $9.98 on Tuesday. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.31 and a quick ratio of 0.68. The company has a market capitalization of $878.54 million, a P/E ratio of -17.82 and a beta of 0.46. Westrock Coffee has a 1 year low of $6.88 and a 1 year high of $12.90. The business has a 50-day moving average of $10.06 and a two-hundred day moving average of $9.58.

Westrock Coffee (NASDAQ:WEST) last posted its quarterly earnings data on Tuesday, March 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). The firm had revenue of $214.97 million for the quarter, compared to the consensus estimate of $222.20 million. Westrock Coffee had a negative return on equity of 41.02% and a negative net margin of 4.05%. As a group, equities analysts predict that Westrock Coffee will post -0.05 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Telsey Advisory Group increased their price target on Westrock Coffee from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Benchmark increased their price target on Westrock Coffee from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th.

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.