Geode Capital Management LLC grew its position in shares of Farmer Bros. Co. (NASDAQ:FARM – Free Report) by 5.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 209,288 shares of the company’s stock after buying an additional 11,390 shares during the quarter. Geode Capital Management LLC’s holdings in Farmer Bros. were worth $414,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in Farmer Bros. by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 367,919 shares of the company’s stock worth $986,000 after acquiring an additional 17,327 shares during the last quarter. PFG Investments LLC acquired a new position in Farmer Bros. in the third quarter worth $33,000. Renaissance Technologies LLC boosted its stake in Farmer Bros. by 1.4% in the second quarter. Renaissance Technologies LLC now owns 559,500 shares of the company’s stock worth $1,499,000 after purchasing an additional 7,600 shares in the last quarter. Global Wealth Management Investment Advisory Inc. grew its holdings in shares of Farmer Bros. by 58.3% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 19,000 shares of the company’s stock worth $38,000 after purchasing an additional 7,000 shares during the last quarter. Finally, Sanders Morris Harris LLC increased its stake in shares of Farmer Bros. by 53.8% in the third quarter. Sanders Morris Harris LLC now owns 154,283 shares of the company’s stock valued at $305,000 after buying an additional 54,000 shares in the last quarter. Institutional investors and hedge funds own 64.48% of the company’s stock.
Analysts Set New Price Targets
FARM has been the topic of several research reports. Roth Mkm reduced their price target on shares of Farmer Bros. from $6.00 to $4.50 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. StockNews.com lowered shares of Farmer Bros. from a “buy” rating to a “hold” rating in a research report on Monday, September 16th.
Farmer Bros. Stock Down 1.7 %
NASDAQ FARM opened at $1.77 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.58 and a current ratio of 1.32. Farmer Bros. Co. has a 52 week low of $1.67 and a 52 week high of $4.04. The stock has a market capitalization of $37.79 million, a P/E ratio of -4.92 and a beta of 1.80. The stock has a fifty day moving average of $1.95 and a 200-day moving average of $2.24.
Farmer Bros. (NASDAQ:FARM – Get Free Report) last released its earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). Farmer Bros. had a negative net margin of 2.20% and a negative return on equity of 35.41%. The business had revenue of $85.07 million for the quarter, compared to analyst estimates of $84.80 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. On average, equities research analysts forecast that Farmer Bros. Co. will post -0.62 EPS for the current year.
Farmer Bros. Company Profile
Farmer Bros. Co engages in the roasting, wholesale, equipment servicing, and distribution of coffee, tea, and other allied products in the United States. The company offers roast and ground coffee; frozen liquid coffee; flavoured and unflavoured iced and hot teas; culinary products, including spices, pancake and biscuit mixes, gravy and sauce mixes, soup bases, dressings, and syrups and sauces, as well as coffee filters, cups, sugar, and creamers; and other beverages comprising cappuccino, cocoa, granitas, and other blender-based beverages and concentrated and ready-to-drink cold brew and iced coffee.
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