Raymond James Financial Inc. Acquires Shares of 130,816 Westrock Coffee (NASDAQ:WEST)

Raymond James Financial Inc. purchased a new position in shares of Westrock Coffee (NASDAQ:WEST - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 130,816 shares of the company's stock, valued at approximately $840,000. Raymond James Financial Inc. owned 0.14% of Westrock Coffee as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Westrock Coffee by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 284,653 shares of the company's stock worth $1,827,000 after purchasing an additional 2,010 shares during the last quarter. First Horizon Advisors Inc. purchased a new position in Westrock Coffee during the 4th quarter worth approximately $96,000. Savant Capital LLC acquired a new stake in Westrock Coffee during the 4th quarter valued at approximately $132,000. Stephens Inc. AR boosted its holdings in shares of Westrock Coffee by 54.8% in the 4th quarter. Stephens Inc. AR now owns 236,364 shares of the company's stock valued at $1,517,000 after acquiring an additional 83,647 shares during the last quarter. Finally, DAVENPORT & Co LLC increased its stake in shares of Westrock Coffee by 15.7% in the fourth quarter. DAVENPORT & Co LLC now owns 238,675 shares of the company's stock worth $1,532,000 after acquiring an additional 32,325 shares during the period. Hedge funds and other institutional investors own 45.08% of the company's stock.

Westrock Coffee Stock Performance

NASDAQ WEST traded up $0.72 during mid-day trading on Wednesday, reaching $6.27. 553,839 shares of the stock were exchanged, compared to its average volume of 282,288. The company has a market capitalization of $590.81 million, a P/E ratio of -7.29 and a beta of 0.47. 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 business's 50 day moving average is $6.53 and its 200-day moving average is $6.69. Westrock Coffee has a 1 year low of $5.28 and a 1 year high of $10.99.

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Analyst Upgrades and Downgrades

WEST has been the subject of a number of research reports. Telsey Advisory Group restated an "outperform" rating and set a $9.00 target price on shares of Westrock Coffee in a research report on Wednesday, March 12th. Benchmark reissued a "buy" rating and issued a $10.00 price objective on shares of Westrock Coffee in a report on Friday, March 14th.

Insider Transactions at Westrock Coffee

In other Westrock Coffee news, COO William A. Ford purchased 15,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was purchased at an average price of $6.45 per share, for a total transaction of $96,750.00. Following the purchase, the chief operating officer now directly owns 476,190 shares in the company, valued at approximately $3,071,425.50. This trade represents a 3.25 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 42.10% of the company's stock.

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.