Wells Fargo & Company MN Buys 1,016 Shares of Farmer Bros Co (NASDAQ:FARM)

Wells Fargo & Company MN lifted its stake in shares of Farmer Bros Co (NASDAQ:FARM) by 5.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,632 shares of the company’s stock after purchasing an additional 1,016 shares during the period. Wells Fargo & Company MN owned 0.12% of Farmer Bros worth $322,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. BNP Paribas Arbitrage SA grew its holdings in Farmer Bros by 415.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,103 shares of the company’s stock valued at $42,000 after buying an additional 1,695 shares in the last quarter. Swiss National Bank grew its holdings in shares of Farmer Bros by 5.1% during the second quarter. Swiss National Bank now owns 20,500 shares of the company’s stock valued at $336,000 after buying an additional 1,000 shares during the last quarter. Gamco Investors INC. ET AL grew its holdings in shares of Farmer Bros by 56.7% during the second quarter. Gamco Investors INC. ET AL now owns 162,500 shares of the company’s stock valued at $2,660,000 after buying an additional 58,800 shares during the last quarter. Teton Advisors Inc. grew its holdings in shares of Farmer Bros by 25.3% during the second quarter. Teton Advisors Inc. now owns 366,021 shares of the company’s stock valued at $5,992,000 after buying an additional 73,987 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. grew its holdings in shares of Farmer Bros by 2.4% during the first quarter. Punch & Associates Investment Management Inc. now owns 363,262 shares of the company’s stock valued at $7,269,000 after buying an additional 8,470 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

A number of equities research analysts have recently weighed in on the stock. BidaskClub lowered shares of Farmer Bros from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 7th. Zacks Investment Research lowered shares of Farmer Bros from a “hold” rating to a “sell” rating in a report on Friday, September 13th. ValuEngine raised shares of Farmer Bros from a “hold” rating to a “buy” rating in a report on Monday, August 12th. B. Riley dropped their price objective on shares of Farmer Bros from $21.00 to $10.50 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Finally, Lake Street Capital dropped their price objective on shares of Farmer Bros from $26.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Farmer Bros currently has an average rating of “Hold” and a consensus price target of $12.17.

In other news, major shareholder Levin Easterly Partners Llc acquired 9,342 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was acquired at an average price of $16.47 per share, for a total transaction of $153,862.74. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Randy E. Clark acquired 3,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was purchased at an average price of $14.11 per share, with a total value of $42,330.00. Following the transaction, the director now owns 21,928 shares of the company’s stock, valued at approximately $309,404.08. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 16,871 shares of company stock valued at $259,561. Insiders own 10.90% of the company’s stock.

NASDAQ:FARM opened at $14.02 on Wednesday. Farmer Bros Co has a one year low of $10.26 and a one year high of $26.25. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.75 and a current ratio of 1.66. The firm has a market cap of $235.71 million, a price-to-earnings ratio of -12.98 and a beta of 0.22. The firm’s fifty day moving average is $12.96 and its two-hundred day moving average is $16.83.

Farmer Bros (NASDAQ:FARM) last issued its quarterly earnings data on Tuesday, September 10th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.37). The firm had revenue of $142.05 million during the quarter, compared to analyst estimates of $146.90 million. Farmer Bros had a negative return on equity of 9.51% and a negative net margin of 12.35%. As a group, equities research analysts predict that Farmer Bros Co will post -0.53 earnings per share for the current fiscal year.

Farmer Bros 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 cold brew and iced coffee.

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Institutional Ownership by Quarter for Farmer Bros (NASDAQ:FARM)

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