Farmer Brothers Co. (FARM) Trading Down 3.3%
Farmer Brothers Co. (NASDAQ:FARM) traded down 3.3% during mid-day trading on Wednesday . The company traded as low as $33.65 and last traded at $33.65, with a volume of 101,278 shares changing hands. The stock had previously closed at $34.80.
Several equities research analysts recently weighed in on FARM shares. B. Riley reiterated a “buy” rating and set a $38.00 price objective on shares of Farmer Brothers in a research note on Monday. Zacks Investment Research upgraded shares of Farmer Brothers from a “sell” rating to a “hold” rating in a research note on Monday, September 5th.
The firm has a market cap of $579.93 million, a PE ratio of 6.48 and a beta of 0.94. The firm has a 50 day moving average of $31.90 and a 200-day moving average of $30.17.
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Farmer Brothers (NASDAQ:FARM) last posted its earnings results on Monday, September 12th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by $0.09. Farmer Brothers had a net margin of 16.52% and a return on equity of 14.69%. The firm earned $134.20 million during the quarter, compared to analyst estimates of $135.56 million. The company’s revenue was up 1.2% on a year-over-year basis. Equities research analysts expect that Farmer Brothers Co. will post $1.25 EPS for the current year.
In related news, CEO Michael H. Keown sold 12,000 shares of the firm’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $32.59, for a total value of $391,080.00. Following the transaction, the chief executive officer now directly owns 59,242 shares in the company, valued at approximately $1,930,696.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 38.10% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of FARM. Springbok Capital Management LLC raised 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 worth $137,000 after buying an additional 1,100 shares during the last quarter. AXA purchased a new position in Farmer Brothers during the first quarter worth about $321,000. BlackRock Institutional Trust Company N.A. raised its position in Farmer Brothers by 1.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 228,123 shares of the company’s stock worth $6,358,000 after buying an additional 3,130 shares during the last quarter. Mutual of America Capital Management LLC raised its position in Farmer Brothers by 2.9% in the second quarter. Mutual of America Capital Management LLC now owns 137,133 shares of the company’s stock worth $4,396,000 after buying an additional 3,807 shares during the last quarter. Finally, GSA Capital Partners LLP raised its position in Farmer Brothers by 24.1% in the second quarter. GSA Capital Partners LLP now owns 67,467 shares of the company’s stock worth $2,163,000 after buying an additional 13,111 shares during the last quarter. Institutional investors and hedge funds own 45.85% of the company’s stock.
About Farmer Brothers
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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