Anchor Capital Advisors LLC trimmed its holdings in shares of Farmer Bros Co (NASDAQ:FARM) by 4.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 58,245 shares of the company’s stock after selling 2,586 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Farmer Bros were worth $1,538,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Russell Investments Group Ltd. lifted its stake in Farmer Bros by 6.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 524,393 shares of the company’s stock valued at $13,843,000 after acquiring an additional 30,254 shares during the period. North Star Investment Management Corp. lifted its stake in shares of Farmer Bros by 13.2% in the 3rd quarter. North Star Investment Management Corp. now owns 77,150 shares of the company’s stock valued at $2,037,000 after purchasing an additional 9,000 shares during the period. Northern Trust Corp lifted its stake in shares of Farmer Bros by 8.0% in the 2nd quarter. Northern Trust Corp now owns 185,673 shares of the company’s stock valued at $5,672,000 after purchasing an additional 13,733 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Farmer Bros by 4.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 92,054 shares of the company’s stock valued at $2,813,000 after purchasing an additional 3,577 shares during the period. Finally, Portolan Capital Management LLC lifted its stake in shares of Farmer Bros by 12.2% in the 2nd quarter. Portolan Capital Management LLC now owns 276,088 shares of the company’s stock valued at $8,434,000 after purchasing an additional 29,923 shares during the period. Institutional investors and hedge funds own 60.30% of the company’s stock.
FARM opened at $23.59 on Friday. Farmer Bros Co has a 1 year low of $23.47 and a 1 year high of $35.05. The firm has a market capitalization of $415.61 million, a P/E ratio of 181.46, a PEG ratio of 9.71 and a beta of 0.22.
Farmer Bros (NASDAQ:FARM) last posted its earnings results on Tuesday, September 11th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. Farmer Bros had a negative net margin of 3.88% and a positive return on equity of 1.04%. The firm had revenue of $149.54 million during the quarter, compared to analysts’ expectations of $153.37 million. Research analysts anticipate that Farmer Bros Co will post 0.32 earnings per share for the current year.
FARM has been the subject of several analyst reports. BidaskClub cut shares of Farmer Bros from a “sell” rating to a “strong sell” rating in a research note on Friday, September 7th. B. Riley decreased their target price on shares of Farmer Bros from $34.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, September 27th. ValuEngine cut shares of Farmer Bros from a “buy” rating to a “hold” rating in a research note on Monday, July 16th. Finally, Zacks Investment Research upgraded shares of Farmer Bros from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $33.75.
In related news, CEO Michael H. Keown sold 23,333 shares of the business’s stock in a transaction on Monday, September 10th. The shares were 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 in the company, valued at approximately $1,917,392.15. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 10.90% of the company’s stock.
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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