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.
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.
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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