Farmer Bros Co (NASDAQ:FARM) Director Jeanne Farmer Grossman sold 20,000 shares of the stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $31.80, for a total transaction of $636,000.00. Following the completion of the sale, the director now directly owns 18,874 shares of the company’s stock, valued at $600,193.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
NASDAQ:FARM traded down $0.80 during trading hours on Monday, reaching $29.40. 85,369 shares of the company were exchanged, compared to its average volume of 70,633. Farmer Bros Co has a twelve month low of $28.75 and a twelve month high of $37.35. The stock has a market capitalization of $510.37, a PE ratio of 41.93 and a beta of 0.47.
Farmer Bros (NASDAQ:FARM) last announced its quarterly earnings data on Tuesday, February 6th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($1.27). Farmer Bros had a negative net margin of 2.98% and a positive return on equity of 4.43%. The firm had revenue of $167.37 million during the quarter, compared to analysts’ expectations of $161.62 million. During the same period in the prior year, the company posted $1.20 EPS. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. equities research analysts predict that Farmer Bros Co will post -0.59 earnings per share for the current year.
Several equities research analysts have recently issued reports on the stock. BidaskClub lowered shares of Farmer Bros from a “buy” rating to a “hold” rating in a report on Friday, March 23rd. Roth Capital reiterated a “buy” rating and set a $41.00 price objective on shares of Farmer Bros in a report on Thursday, March 8th. TheStreet downgraded shares of Farmer Bros from a “b-” rating to a “c” rating in a research report on Tuesday, February 6th. Finally, Zacks Investment Research raised shares of Farmer Bros from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Thursday, February 8th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Farmer Bros currently has a consensus rating of “Buy” and an average target price of $38.50.
Institutional investors and hedge funds have recently modified their holdings of the company. MetLife Investment Advisors LLC acquired a new stake in Farmer Bros in the fourth quarter valued at approximately $128,000. Nationwide Fund Advisors raised its holdings in Farmer Bros by 6.9% in the second quarter. Nationwide Fund Advisors now owns 5,825 shares of the company’s stock valued at $176,000 after acquiring an additional 378 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Farmer Bros by 12.4% in the second quarter. The Manufacturers Life Insurance Company now owns 7,492 shares of the company’s stock valued at $227,000 after purchasing an additional 829 shares during the last quarter. Alliancebernstein L.P. increased its stake in Farmer Bros by 22.9% in the second quarter. Alliancebernstein L.P. now owns 7,517 shares of the company’s stock valued at $227,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Farmer Bros by 11.1% in the second quarter. Wells Fargo & Company MN now owns 9,204 shares of the company’s stock valued at $279,000 after purchasing an additional 923 shares during the last quarter. 56.28% of the stock is currently owned by institutional investors and hedge funds.
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Farmer Bros Company Profile
Farmer Bros. Co is a national coffee roaster, wholesaler and distributor of coffee, tea and culinary products. The Company offers private brand and consumer-branded coffee products to small independent restaurants and foodservice operators, and institutional buyers. Its product line includes organic, Direct Trade, Direct Trade Verified Sustainable (DTVS) coffees and other coffees, iced and hot teas, cappuccino, spices, and baking/biscuit mixes.
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