Shares of Farmer Bros Co (NASDAQ:FARM) have been assigned an average rating of “Hold” from the seven research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $34.67.
FARM has been the subject of several recent analyst reports. BidaskClub lowered Farmer Bros from a “sell” rating to a “strong sell” rating in a research report on Friday, September 7th. Zacks Investment Research raised Farmer Bros from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 10th. ValuEngine raised Farmer Bros from a “hold” rating to a “buy” rating in a research report on Thursday, July 5th. Finally, B. Riley lowered their price target on Farmer Bros from $34.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday.
Farmer Bros stock traded down $0.15 on Monday, hitting $26.60. 615 shares of the stock traded hands, compared to its average volume of 46,116. The firm has a market capitalization of $458.62 million, a P/E ratio of 203.46, a P/E/G ratio of 7.68 and a beta of 0.24. Farmer Bros has a 1 year low of $23.60 and a 1 year high of $35.05.
In other Farmer Bros news, CEO Michael H. Keown sold 23,333 shares of the business’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $28.03, for a total value of $654,023.99. Following the completion of the transaction, the chief executive officer now owns 68,405 shares of the company’s stock, valued at approximately $1,917,392.15. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Carol Farmer Waite sold 4,100 shares of the business’s stock in a transaction dated Thursday, July 5th. The stock was sold at an average price of $31.22, for a total value of $128,002.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,871 shares of company stock valued at $2,159,090. 9.20% of the stock is owned by insiders.
Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its stake in shares of Farmer Bros by 171.3% during the 1st quarter. JPMorgan Chase & Co. now owns 6,269 shares of the company’s stock valued at $189,000 after purchasing an additional 3,958 shares during the period. Suntrust Banks Inc. bought a new stake in shares of Farmer Bros during the 1st quarter valued at about $259,000. Barclays PLC grew its stake in shares of Farmer Bros by 27.7% during the 1st quarter. Barclays PLC now owns 11,044 shares of the company’s stock valued at $335,000 after purchasing an additional 2,393 shares during the period. First Trust Advisors LP grew its stake in shares of Farmer Bros by 18.2% during the 2nd quarter. First Trust Advisors LP now owns 12,087 shares of the company’s stock valued at $369,000 after purchasing an additional 1,860 shares during the period. Finally, Swiss National Bank grew its stake in shares of Farmer Bros by 24.4% during the 2nd quarter. Swiss National Bank now owns 20,900 shares of the company’s stock valued at $638,000 after purchasing an additional 4,100 shares during the period. 60.25% of the stock is owned by institutional investors and hedge funds.
Farmer Bros Company Profile
Farmer Bros. Co engages in the manufacture, wholesale, and distribution of coffee, tea, and culinary products in the United States. The company offers roast and ground coffee; frozen liquid coffee; flavored and unflavored iced and hot teas; culinary products, including gelatins and puddings, soup bases, dressings, gravy and sauce mixes, pancake and biscuit mixes, jellies and preserves, and coffee-related products, such as coffee filters, sugar, and creamers; spices; and other beverages comprising cappuccino, cocoa, granitas, and ready-to-drink iced coffee.
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