Farmer Bros Co (NASDAQ:FARM) hit a new 52-week low on Friday . The company traded as low as $23.47 and last traded at $23.47, with a volume of 300 shares changing hands. The stock had previously closed at $24.00.
FARM has been the subject of a number of research analyst reports. Zacks Investment Research raised Farmer Bros from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 10th. B. Riley decreased their target price on Farmer Bros from $34.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, September 27th. BidaskClub raised Farmer Bros from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 24th. Finally, ValuEngine lowered Farmer Bros from a “buy” rating to a “hold” rating in a research report on Monday, July 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $33.75.
The stock has a market capitalization of $400.51 million, a P/E ratio of 196.58, a price-to-earnings-growth ratio of 9.36 and a beta of 0.22.
In other news, CEO Michael H. Keown sold 23,333 shares of the business’s stock in a transaction on 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 directly owns 68,405 shares of the company’s stock, valued at approximately $1,917,392.15. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 10.90% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in shares of Farmer Bros by 171.3% in the 1st quarter. JPMorgan Chase & Co. now owns 6,269 shares of the company’s stock worth $189,000 after acquiring an additional 3,958 shares in the last quarter. Suntrust Banks Inc. acquired a new position in Farmer Bros during the 1st quarter valued at about $259,000. First Trust Advisors LP increased its position in 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 buying an additional 1,860 shares in the last quarter. Swiss National Bank increased its position in 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 buying an additional 4,100 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in Farmer Bros by 11.9% during the 1st quarter. Russell Investments Group Ltd. now owns 27,263 shares of the company’s stock valued at $824,000 after buying an additional 2,891 shares in the last quarter. 60.30% of the stock is owned by hedge funds and other institutional investors.
About Farmer Bros (NASDAQ:FARM)
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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