Farmer Brothers Company (FARM) Position Raised by Alliancebernstein L.P.
Alliancebernstein L.P. boosted its position in Farmer Brothers Company (NASDAQ:FARM) by 22.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,517 shares of the company’s stock after purchasing an additional 1,400 shares during the period. Alliancebernstein L.P.’s holdings in Farmer Brothers were worth $227,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in FARM. Heartland Advisors Inc. increased its holdings in Farmer Brothers by 94.7% in the second quarter. Heartland Advisors Inc. now owns 267,304 shares of the company’s stock valued at $8,086,000 after buying an additional 130,017 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Farmer Brothers by 5.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 40,054 shares of the company’s stock worth $1,416,000 after purchasing an additional 2,223 shares in the last quarter. Marshall Wace North America L.P. purchased a new position in shares of Farmer Brothers during the 2nd quarter worth approximately $1,919,000. Gamco Investors INC. ET AL increased its stake in shares of Farmer Brothers by 6.3% during the 2nd quarter. Gamco Investors INC. ET AL now owns 89,300 shares of the company’s stock worth $2,701,000 after purchasing an additional 5,300 shares in the last quarter. Finally, Kennedy Capital Management Inc. increased its stake in shares of Farmer Brothers by 176.3% during the 2nd quarter. Kennedy Capital Management Inc. now owns 202,009 shares of the company’s stock worth $6,111,000 after purchasing an additional 128,903 shares in the last quarter. Hedge funds and other institutional investors own 53.29% of the company’s stock.
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Farmer Brothers Company (FARM) opened at $31.70 on Monday. The firm has a market cap of $533.93, a price-to-earnings ratio of 62.16 and a beta of 0.44. Farmer Brothers Company has a 1-year low of $28.75 and a 1-year high of $37.55.
Farmer Brothers (NASDAQ:FARM) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $0.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.04. The company had revenue of $131.70 million for the quarter, compared to analyst estimates of $131.09 million. Farmer Brothers had a net margin of 4.02% and a return on equity of 4.13%. Farmer Brothers’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the business earned $0.21 EPS. research analysts expect that Farmer Brothers Company will post 0.72 earnings per share for the current year.
A number of research analysts have recently weighed in on the stock. B. Riley reissued a “buy” rating and set a $38.50 price objective (up from $37.25) on shares of Farmer Brothers in a research note on Friday, September 29th. Zacks Investment Research cut shares of Farmer Brothers from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. ValuEngine raised shares of Farmer Brothers from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Finally, TheStreet raised shares of Farmer Brothers from a “c+” rating to a “b-” rating in a research note on Wednesday, November 1st.
Farmer Brothers 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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