Farmer Bros Co (NASDAQ:FARM) has been assigned an average recommendation of “Hold” from the seven brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $35.33.
Several equities analysts have weighed in on the stock. BidaskClub cut shares of Farmer Bros from a “sell” rating to a “strong sell” rating in a research report on Monday, July 23rd. ValuEngine cut shares of Farmer Bros from a “buy” rating to a “hold” rating in a research report on Monday, July 16th. Finally, Zacks Investment Research upgraded shares of Farmer Bros from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 10th.
In other Farmer Bros news, CEO Michael H. Keown sold 23,333 shares of Farmer Bros stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $29.62, for a total transaction of $691,123.46. Following the transaction, the chief executive officer now directly owns 68,405 shares in the company, valued at approximately $2,026,156.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Carol Farmer Waite sold 22,437 shares of the business’s stock in a transaction on Thursday, July 19th. The shares were sold at an average price of $29.22, for a total transaction of $655,609.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,871 shares of company stock worth $2,196,189. Corporate insiders own 9.20% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. grew its holdings in shares of Farmer Bros by 3.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 54,501 shares of the company’s stock valued at $1,666,000 after acquiring an additional 1,788 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Farmer Bros by 18.2% during the 2nd quarter. First Trust Advisors LP now owns 12,087 shares of the company’s stock valued at $369,000 after acquiring an additional 1,860 shares in the last quarter. Barclays PLC grew its holdings in shares of Farmer Bros by 27.7% during the 1st quarter. Barclays PLC now owns 11,044 shares of the company’s stock valued at $335,000 after acquiring an additional 2,393 shares in the last quarter. Granite Investment Partners LLC grew its holdings in shares of Farmer Bros by 0.6% during the 2nd quarter. Granite Investment Partners LLC now owns 440,600 shares of the company’s stock valued at $13,460,000 after acquiring an additional 2,496 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Farmer Bros by 18.3% during the 4th quarter. Wells Fargo & Company MN now owns 16,172 shares of the company’s stock valued at $520,000 after acquiring an additional 2,502 shares in the last quarter. Institutional investors and hedge funds own 58.10% of the company’s stock.
Shares of NASDAQ FARM traded down $0.40 during trading on Friday, hitting $28.25. The company had a trading volume of 39,993 shares, compared to its average volume of 34,787. The stock has a market capitalization of $484.99 million, a P/E ratio of 40.36, a P/E/G ratio of 5.23 and a beta of 0.37. Farmer Bros has a 52 week low of $23.60 and a 52 week high of $35.05.
Farmer Bros Company 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 iced coffee.
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