Rice Hall James & Associates LLC decreased its stake in Farmer Brothers Co. (NASDAQ:FARM) by 2.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 79,302 shares of the company’s stock after selling 1,889 shares during the period. Rice Hall James & Associates LLC’s holdings in Farmer Brothers were worth $2,542,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the company. Springbok Capital Management LLC increased its stake 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 in the last quarter. Spark Investment Management LLC purchased a new position in Farmer Brothers during the first quarter worth approximately $259,000. AXA purchased a new position in Farmer Brothers during the first quarter worth approximately $321,000. Barclays PLC boosted its position in Farmer Brothers by 94.7% in the first quarter. Barclays PLC now owns 14,600 shares of the company’s stock worth $394,000 after buying an additional 7,100 shares during the last quarter. Finally, Boothbay Fund Management LLC boosted its position in Farmer Brothers by 50.1% in the first quarter. Boothbay Fund Management LLC now owns 15,931 shares of the company’s stock worth $444,000 after buying an additional 5,320 shares during the last quarter. Institutional investors own 45.85% of the company’s stock.
Farmer Brothers Co. (NASDAQ:FARM) traded down 0.59% during mid-day trading on Thursday, reaching $33.51. 94,726 shares of the company traded hands. Farmer Brothers Co. has a 52-week low of $24.04 and a 52-week high of $36.96. The company has a market capitalization of $554.93 million, a P/E ratio of 6.20 and a beta of 0.94. The stock has a 50 day moving average price of $33.37 and a 200-day moving average price of $30.92.
Farmer Brothers (NASDAQ:FARM) last released its quarterly earnings data on Monday, September 12th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by $0.09. Farmer Brothers had a return on equity of 14.69% and a net margin of 16.52%. The firm earned $134.20 million during the quarter, compared to analyst estimates of $135.56 million. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. Analysts expect that Farmer Brothers Co. will post $1.25 EPS for the current fiscal year.
A number of research analysts have recently commented on FARM shares. Zacks Investment Research raised shares of Farmer Brothers from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Monday, July 4th. B. Riley reissued a “buy” rating and set a $34.00 target price on shares of Farmer Brothers in a research report on Friday, September 9th.
In related news, CEO Michael H. Keown sold 12,000 shares of the stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $32.59, for a total value of $391,080.00. Following the transaction, the chief executive officer now owns 59,242 shares in the company, valued at $1,930,696.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 38.10% of the stock is owned by corporate insiders.
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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