Farmer Brothers Co. (FARM) Reaches New 1-Year High at $34.91
Farmer Brothers Co. (NASDAQ:FARM) shares reached a new 52-week high on Tuesday . The stock traded as high as $34.91 and last traded at $34.80, with a volume of 73,560 shares changing hands. The stock had previously closed at $34.24.
Several research firms have weighed in on FARM. B. Riley reissued a “buy” rating and issued a $38.00 price target on shares of Farmer Brothers in a report on Monday. Zacks Investment Research raised shares of Farmer Brothers from a “sell” rating to a “hold” rating in a report on Monday, September 5th.
The firm has a market cap of $577.12 million, a P/E ratio of 6.45 and a beta of 0.94. The company has a 50-day moving average of $31.78 and a 200 day moving average of $30.10.
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Farmer Brothers (NASDAQ:FARM) last posted its earnings results on Monday, September 12th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.32 by $0.09. The business had revenue of $134.20 million for the quarter, compared to the consensus estimate of $135.56 million. Farmer Brothers had a return on equity of 14.69% and a net margin of 16.52%. Farmer Brothers’s revenue was up 1.2% compared to the same quarter last year. Equities analysts predict that Farmer Brothers Co. will post $1.25 EPS for the current fiscal year.
In related news, CEO Michael H. Keown sold 12,000 shares of the business’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $32.59, for a total transaction of $391,080.00. Following the transaction, the chief executive officer now directly owns 59,242 shares in the company, valued at $1,930,696.78. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 38.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Advisors LLC boosted its position in Farmer Brothers by 14.5% in the second quarter. BlackRock Advisors LLC now owns 3,858 shares of the company’s stock valued at $124,000 after buying an additional 489 shares during the period. American International Group Inc. boosted its position in Farmer Brothers by 2.7% in the second quarter. American International Group Inc. now owns 4,657 shares of the company’s stock valued at $149,000 after buying an additional 123 shares during the period. Springbok Capital Management LLC boosted its position in Farmer Brothers by 28.9% in the first quarter. Springbok Capital Management LLC now owns 4,900 shares of the company’s stock valued at $137,000 after buying an additional 1,100 shares during the period. Nationwide Fund Advisors boosted its position in Farmer Brothers by 6.2% in the second quarter. Nationwide Fund Advisors now owns 5,009 shares of the company’s stock valued at $161,000 after buying an additional 292 shares during the period. Finally, Rhumbline Advisers boosted its position in Farmer Brothers by 4.9% in the second quarter. Rhumbline Advisers now owns 8,712 shares of the company’s stock valued at $279,000 after buying an additional 407 shares during the period. Institutional investors and hedge funds own 45.85% of the company’s stock.
Farmer Brothers Company Profile
Farmer Bros. Co is a manufacturer, wholesaler and distributor of coffee, tea and culinary products. The Company’s customers include restaurants, hotels, casinos, offices, quick service restaurants (QSRs), convenience stores, healthcare facilities and other foodservice providers, as well as private brand retailers in the QSR, grocery, drugstore, restaurant, convenience store and coffee house channels.
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