Hodges Capital Management Inc. acquired a new stake in Farmer Bros Co (NASDAQ:FARM) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,500 shares of the company’s stock, valued at approximately $250,000. Hodges Capital Management Inc. owned about 0.07% of Farmer Bros as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also added to or reduced their stakes in FARM. BlackRock Inc. lifted its holdings in Farmer Bros by 0.8% in the third quarter. BlackRock Inc. now owns 669,178 shares of the company’s stock valued at $17,665,000 after acquiring an additional 4,998 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Farmer Bros by 2.5% in the third quarter. Dimensional Fund Advisors LP now owns 919,372 shares of the company’s stock valued at $24,271,000 after acquiring an additional 22,266 shares during the last quarter. MetLife Investment Advisors LLC lifted its stake in Farmer Bros by 63.1% during the third quarter. MetLife Investment Advisors LLC now owns 6,469 shares of the company’s stock worth $171,000 after purchasing an additional 2,502 shares in the last quarter. Vanguard Group Inc. lifted its stake in Farmer Bros by 3.7% during the third quarter. Vanguard Group Inc. now owns 580,677 shares of the company’s stock worth $15,330,000 after purchasing an additional 20,649 shares in the last quarter. Finally, Vanguard Group Inc lifted its stake in Farmer Bros by 3.7% during the third quarter. Vanguard Group Inc now owns 580,677 shares of the company’s stock worth $15,330,000 after purchasing an additional 20,649 shares in the last quarter. Hedge funds and other institutional investors own 60.08% of the company’s stock.
In related news, major shareholder Levin Easterly Partners Llc acquired 464,694 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were acquired at an average price of $19.85 per share, with a total value of $9,224,175.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 10.90% of the stock is currently owned by corporate insiders.
NASDAQ:FARM opened at $20.20 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.93 and a current ratio of 2.00. Farmer Bros Co has a 52 week low of $19.17 and a 52 week high of $31.50. The firm has a market cap of $337.33 million, a price-to-earnings ratio of 155.38 and a beta of 0.15.
Farmer Bros (NASDAQ:FARM) last released its quarterly earnings results on Monday, February 11th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.14). Farmer Bros had a negative return on equity of 2.67% and a negative net margin of 2.74%. The firm had revenue of $159.77 million for the quarter, compared to analyst estimates of $162.79 million. As a group, analysts anticipate that Farmer Bros Co will post -0.11 EPS for the current fiscal year.
A number of research analysts have commented on FARM shares. ValuEngine cut Farmer Bros from a “buy” rating to a “hold” rating in a research note on Tuesday, January 15th. BidaskClub cut Farmer Bros from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 5th. Finally, Zacks Investment Research cut Farmer Bros from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $33.75.
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Farmer Bros Profile
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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