Farmer Brothers Co. (FARM) Major Shareholder Carol Farmer Waite Sells 350,000 Shares
Farmer Brothers Co. (NASDAQ:FARM) major shareholder Carol Farmer Waite sold 350,000 shares of Farmer Brothers stock in a transaction on Friday, August 11th. The shares were sold at an average price of $29.60, for a total transaction of $10,360,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Farmer Brothers Co. (NASDAQ:FARM) traded up 1.82% during midday trading on Monday, reaching $30.85. 36,087 shares of the company traded hands. The firm has a 50 day moving average of $30.53 and a 200-day moving average of $32.59. The stock has a market capitalization of $512.26 million, a price-to-earnings ratio of 4.80 and a beta of 0.48. Farmer Brothers Co. has a 12 month low of $28.90 and a 12 month high of $37.55.
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Institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. acquired a new position in shares of Farmer Brothers during the first quarter worth about $142,000. American International Group Inc. boosted its position in shares of Farmer Brothers by 7.0% in the first quarter. American International Group Inc. now owns 4,977 shares of the company’s stock worth $176,000 after buying an additional 326 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of Farmer Brothers by 8.7% in the first quarter. Nationwide Fund Advisors now owns 5,447 shares of the company’s stock worth $193,000 after buying an additional 438 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Farmer Brothers during the first quarter worth about $205,000. Finally, Citigroup Inc. boosted its position in shares of Farmer Brothers by 2,043.6% in the second quarter. Citigroup Inc. now owns 6,238 shares of the company’s stock worth $189,000 after buying an additional 5,947 shares in the last quarter. Institutional investors own 49.23% of the company’s stock.
Several equities analysts recently weighed in on FARM shares. B. Riley restated a “buy” rating and set a $37.25 target price on shares of Farmer Brothers in a report on Monday, July 10th. TheStreet lowered shares of Farmer Brothers from a “b” rating to a “c+” rating in a report on Tuesday, May 30th. ValuEngine upgraded shares of Farmer Brothers from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research lowered shares of Farmer Brothers from a “hold” rating to a “sell” rating in a report on Thursday, May 11th.
Farmer Brothers Company Profile
Farmer Bros. Co is a national coffee roaster, wholesaler and distributor of coffee, tea and culinary products. The Company offers private brand and consumer-branded coffee products to small independent restaurants and foodservice operators, and institutional buyers. Its product line includes organic, Direct Trade, Direct Trade Verified Sustainable (DTVS) coffees and other coffees, iced and hot teas, cappuccino, spices, and baking/biscuit mixes.
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