Farmer Bros (FARM) Hits New 12-Month Low at $23.47

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.

Farmer Bros (NASDAQ:FARM) last released its quarterly earnings results on Tuesday, September 11th. The company reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.05. The firm had revenue of $149.54 million during the quarter, compared to analyst estimates of $153.37 million. Farmer Bros had a positive return on equity of 1.04% and a negative net margin of 3.88%. On average, equities analysts anticipate that Farmer Bros Co will post 0.32 EPS for the current fiscal year.

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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