Short Interest in Farmer Brothers (FARM) Drops By 28.1%

Farmer Brothers (NASDAQ:FARM) was the target of a large decline in short interest in March. As of March 29th, there was short interest totalling 491,477 shares, a decline of 28.1% from the March 15th total of 683,657 shares. Based on an average trading volume of 66,601 shares, the days-to-cover ratio is presently 7.4 days. Approximately 5.0% of the shares of the stock are short sold.

In other Farmer Brothers news, Director Jeanne Farmer Grossman sold 20,000 shares of the company’s 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 transaction, the director now owns 18,874 shares of the company’s stock, valued at approximately $600,193.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Christopher P. Mottern acquired 1,500 shares of Farmer Brothers stock in a transaction on Wednesday, February 14th. The shares were purchased at an average cost of $30.26 per share, for a total transaction of $45,390.00. The disclosure for this purchase can be found here. 9.30% of the stock is owned by insiders.

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Several institutional investors have recently modified their holdings of the business. MetLife Investment Advisors LLC bought a new stake in shares of Farmer Brothers during the 4th quarter valued at $128,000. Deutsche Bank AG raised its position in shares of Farmer Brothers by 61.6% during the 4th quarter. Deutsche Bank AG now owns 19,753 shares of the company’s stock valued at $633,000 after acquiring an additional 7,529 shares during the last quarter. Kennedy Capital Management Inc. raised its position in shares of Farmer Brothers by 12.3% during the 4th quarter. Kennedy Capital Management Inc. now owns 236,714 shares of the company’s stock valued at $7,610,000 after acquiring an additional 25,926 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Farmer Brothers by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 98,185 shares of the company’s stock valued at $3,156,000 after acquiring an additional 5,132 shares during the last quarter. Finally, Royce & Associates LP raised its position in shares of Farmer Brothers by 10.9% during the 4th quarter. Royce & Associates LP now owns 320,406 shares of the company’s stock valued at $10,301,000 after acquiring an additional 31,529 shares during the last quarter. Institutional investors own 56.26% of the company’s stock.

Several research firms have issued reports on FARM. Zacks Investment Research raised Farmer Brothers from a “sell” rating to a “hold” rating in a report on Tuesday, April 10th. BidaskClub raised Farmer Brothers from a “hold” rating to a “buy” rating in a report on Friday, March 16th. TheStreet downgraded Farmer Brothers from a “b-” rating to a “c” rating in a report on Tuesday, February 6th. Finally, Roth Capital reaffirmed a “buy” rating and set a $41.00 price objective on shares of Farmer Brothers in a report on Thursday, March 8th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $38.50.

NASDAQ:FARM opened at $29.20 on Tuesday. Farmer Brothers has a 52-week low of $28.50 and a 52-week high of $36.15. The firm has a market cap of $485.02, a price-to-earnings ratio of 41.71 and a beta of 0.47.

Farmer Brothers (NASDAQ:FARM) last posted its quarterly earnings data on Tuesday, February 6th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($1.27). Farmer Brothers had a positive return on equity of 4.43% and a negative net margin of 2.98%. The firm had revenue of $167.37 million for the quarter, compared to analyst estimates of $161.62 million. During the same period in the prior year, the company posted $1.20 EPS. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. equities analysts expect that Farmer Brothers will post -0.59 earnings per share for the current year.

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About Farmer Brothers

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 iced coffee.

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