Farmer Brothers Co. (NASDAQ:FARM) Major Shareholder Sells $10,360,000.00 in Stock
Farmer Brothers Co. (NASDAQ:FARM) major shareholder Carol Farmer Waite sold 350,000 shares of the firm’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of Farmer Brothers Co. (NASDAQ:FARM) traded up 1.82% on Monday, hitting $30.85. 36,087 shares of the stock traded hands. Farmer Brothers Co. has a 1-year low of $28.90 and a 1-year high of $37.55. The stock has a market cap of $512.26 million, a PE ratio of 4.80 and a beta of 0.48. The stock has a 50 day moving average of $30.53 and a 200-day moving average of $32.59.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in FARM. Capital World Investors increased its position in Farmer Brothers by 150.7% in the second quarter. Capital World Investors now owns 425,000 shares of the company’s stock valued at $12,856,000 after buying an additional 255,457 shares in the last quarter. Picton Mahoney Asset Management purchased a new position in Farmer Brothers during the second quarter valued at about $1,560,000. Dimensional Fund Advisors LP increased its position in Farmer Brothers by 11.4% in the second quarter. Dimensional Fund Advisors LP now owns 732,654 shares of the company’s stock valued at $22,163,000 after buying an additional 74,796 shares in the last quarter. Citadel Advisors LLC purchased a new position in Farmer Brothers during the second quarter valued at about $383,000. Finally, Renaissance Technologies LLC increased its position in Farmer Brothers by 4.8% in the second quarter. Renaissance Technologies LLC now owns 464,400 shares of the company’s stock valued at $14,048,000 after buying an additional 21,200 shares in the last quarter. 49.23% of the stock is owned by institutional investors.
FARM has been the topic of several recent research reports. B. Riley reaffirmed a “buy” rating and issued a $37.25 target price on shares of Farmer Brothers in a research note on Monday, July 10th. TheStreet lowered shares of Farmer Brothers from a “b” rating to a “c+” rating in a research note on Tuesday, May 30th. ValuEngine raised shares of Farmer Brothers from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research lowered shares of Farmer Brothers from a “hold” rating to a “sell” rating in a research note on Thursday, May 11th.
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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