Gamco Investors INC. ET AL raised its stake in Farmer Bros Co (NASDAQ:FARM) by 29.9% during the third quarter, HoldingsChannel.com reports. The fund owned 211,100 shares of the company’s stock after acquiring an additional 48,600 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Farmer Bros were worth $2,734,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its stake in Farmer Bros by 22.7% in the second quarter. JPMorgan Chase & Co. now owns 3,772 shares of the company’s stock worth $60,000 after purchasing an additional 698 shares in the last quarter. Swiss National Bank boosted its stake in Farmer Bros by 5.1% in the second quarter. Swiss National Bank now owns 20,500 shares of the company’s stock worth $336,000 after purchasing an additional 1,000 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Farmer Bros by 5.5% in the second quarter. Wells Fargo & Company MN now owns 19,632 shares of the company’s stock worth $322,000 after purchasing an additional 1,016 shares in the last quarter. Rhumbline Advisers boosted its stake in Farmer Bros by 8.3% in the third quarter. Rhumbline Advisers now owns 16,681 shares of the company’s stock worth $216,000 after purchasing an additional 1,273 shares in the last quarter. Finally, Teton Advisors Inc. boosted its stake in Farmer Bros by 3.0% in the third quarter. Teton Advisors Inc. now owns 377,021 shares of the company’s stock worth $4,882,000 after purchasing an additional 11,000 shares in the last quarter. Hedge funds and other institutional investors own 82.49% of the company’s stock.
Shares of FARM traded up $3.30 during trading hours on Friday, hitting $16.29. 311,800 shares of the stock traded hands, compared to its average volume of 107,329. Farmer Bros Co has a 1-year low of $10.26 and a 1-year high of $26.25. The business has a fifty day moving average of $13.65 and a 200-day moving average of $15.80. The firm has a market capitalization of $235.45 million, a PE ratio of -15.08 and a beta of 0.22. The company has a current ratio of 1.66, a quick ratio of 0.75 and a debt-to-equity ratio of 0.58.
Farmer Bros (NASDAQ:FARM) last announced its quarterly earnings results on Tuesday, September 10th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.37). Farmer Bros had a negative return on equity of 9.51% and a negative net margin of 12.35%. The business had revenue of $142.05 million during the quarter, compared to the consensus estimate of $146.90 million. As a group, equities research analysts expect that Farmer Bros Co will post -0.53 earnings per share for the current fiscal year.
FARM has been the topic of a number of recent analyst reports. BidaskClub lowered Farmer Bros from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 7th. Zacks Investment Research raised Farmer Bros from a “sell” rating to a “hold” rating in a research note on Friday. Roth Capital reduced their price objective on Farmer Bros from $20.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Lake Street Capital reduced their price objective on Farmer Bros from $26.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Finally, B. Riley reduced their price objective on Farmer Bros from $21.00 to $10.50 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $12.17.
In other news, Director Randy E. Clark acquired 3,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was acquired at an average cost of $14.11 per share, for a total transaction of $42,330.00. Following the completion of the acquisition, the director now owns 21,928 shares in the company, valued at $309,404.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Levin Easterly Partners Llc acquired 3,002 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average price of $12.65 per share, with a total value of $37,975.30. The disclosure for this purchase can be found here. 1.40% of the stock is owned by corporate insiders.
About Farmer Bros
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 cold brew and iced coffee.
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