Bank of New York Mellon Corp lowered its stake in Farmer Brothers Co. (NASDAQ:FARM) by 0.2% during the second quarter, Holdings Channel reports. The firm owned 27,689 shares of the company’s stock after selling 49 shares during the period. Bank of New York Mellon Corp owned about 0.17% of Farmer Brothers worth $888,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the company. Springbok Capital Management LLC raised its stake in Farmer Brothers by 28.9% in the first quarter. Springbok Capital Management LLC now owns 4,900 shares of the company’s stock valued at $137,000 after buying an additional 1,100 shares during the period. Spark Investment Management LLC acquired a new stake in shares of Farmer Brothers during the first quarter valued at $259,000. AXA acquired a new stake in shares of Farmer Brothers during the first quarter valued at $321,000. Barclays PLC increased its stake in shares of Farmer Brothers by 94.7% in the first quarter. Barclays PLC now owns 14,600 shares of the company’s stock valued at $394,000 after buying an additional 7,100 shares in the last quarter. Finally, Boothbay Fund Management LLC increased its stake in shares of Farmer Brothers by 50.1% in the first quarter. Boothbay Fund Management LLC now owns 15,931 shares of the company’s stock valued at $444,000 after buying an additional 5,320 shares in the last quarter. 45.85% of the stock is currently owned by institutional investors.
Farmer Brothers Co. (NASDAQ:FARM) traded up 0.170% during trading on Monday, reaching $32.455. The company’s stock had a trading volume of 13,758 shares. Farmer Brothers Co. has a 52-week low of $24.04 and a 52-week high of $36.96. The company has a market cap of $537.45 million, a PE ratio of 6.009 and a beta of 0.94. The stock has a 50-day moving average price of $33.83 and a 200 day moving average price of $31.18.
Farmer Brothers (NASDAQ:FARM) last issued its earnings results on Monday, September 12th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.09. The firm earned $134.20 million during the quarter, compared to the consensus estimate of $135.56 million. Farmer Brothers had a net margin of 16.52% and a return on equity of 14.69%. The business’s revenue was up 1.2% compared to the same quarter last year. On average, analysts expect that Farmer Brothers Co. will post $1.25 EPS for the current year.
Several analysts recently weighed in on FARM shares. Zacks Investment Research upgraded Farmer Brothers from a “sell” rating to a “hold” rating in a research report on Monday, September 5th. B. Riley restated a “buy” rating and set a $38.00 price objective on shares of Farmer Brothers in a research report on Monday, September 19th.
In other news, CEO Michael H. Keown sold 12,000 shares of Farmer Brothers stock in a transaction on Monday, September 12th. The stock was sold at an average price of $32.59, for a total value of $391,080.00. Following the completion of the transaction, the chief executive officer now directly owns 59,242 shares in the company, valued at $1,930,696.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 38.10% of the stock is owned by insiders.
Farmer Brothers Company Profile
Farmer Bros. Co is a manufacturer, wholesaler and distributor of coffee, tea and culinary products. The Company’s customers include restaurants, hotels, casinos, offices, quick service restaurants (QSRs), convenience stores, healthcare facilities and other foodservice providers, as well as private brand retailers in the QSR, grocery, drugstore, restaurant, convenience store and coffee house channels.
Want to see what other hedge funds are holding FARM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Farmer Brothers Co. (NASDAQ:FARM).
Receive News & Ratings for Farmer Brothers Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Farmer Brothers Co. and related companies with MarketBeat.com's FREE daily email newsletter.