First Manhattan Co. lowered its stake in Farmer Brothers Company (NASDAQ:FARM) by 5.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,270 shares of the company’s stock after selling 2,400 shares during the period. First Manhattan Co. owned 0.24% of Farmer Brothers worth $1,290,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of FARM. Heartland Advisors Inc. lifted its holdings in shares of Farmer Brothers by 94.7% during the second quarter. Heartland Advisors Inc. now owns 267,304 shares of the company’s stock worth $8,086,000 after purchasing an additional 130,017 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Farmer Brothers by 5.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 40,054 shares of the company’s stock worth $1,416,000 after buying an additional 2,223 shares during the last quarter. Nationwide Fund Advisors raised its stake in Farmer Brothers by 8.7% during the first quarter. Nationwide Fund Advisors now owns 5,447 shares of the company’s stock worth $193,000 after buying an additional 438 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in Farmer Brothers in the second quarter valued at $1,919,000. Finally, Renaissance Technologies LLC increased its stake in Farmer Brothers by 1.1% in the first quarter. Renaissance Technologies LLC now owns 443,200 shares of the company’s stock valued at $15,667,000 after purchasing an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 53.39% of the company’s stock.
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In other news, major shareholder Carol Farmer Waite sold 350,000 shares of the business’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $29.60, for a total transaction of $10,360,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.20% of the stock is owned by insiders.
Farmer Brothers (NASDAQ:FARM) last announced its quarterly earnings results on Thursday, September 28th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.04. Farmer Brothers had a net margin of 4.51% and a return on equity of 6.94%. The company had revenue of $133.80 million for the quarter, compared to analysts’ expectations of $135.72 million. During the same quarter in the previous year, the business posted $0.23 earnings per share. Farmer Brothers’s quarterly revenue was down .3% on a year-over-year basis.
A number of brokerages have recently issued reports on FARM. ValuEngine upgraded shares of Farmer Brothers from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd. B. Riley reiterated a “buy” rating and issued a $37.25 target price on shares of Farmer Brothers in a research note on Monday, September 11th. Zacks Investment Research cut shares of Farmer Brothers from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Finally, TheStreet raised shares of Farmer Brothers from a “c+” rating to a “b-” rating in a research report on Wednesday.
Farmer Brothers Company Profile
Farmer Bros. Co is a national coffee roaster, wholesaler and distributor of coffee, tea and culinary products. The Company offers private brand and consumer-branded coffee products to small independent restaurants and foodservice operators, and institutional buyers. Its product line includes organic, Direct Trade, Direct Trade Verified Sustainable (DTVS) coffees and other coffees, iced and hot teas, cappuccino, spices, and baking/biscuit mixes.
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