Rice Hall James & Associates LLC Lowers Position in Farmer Brothers Company (FARM)
Rice Hall James & Associates LLC lowered its stake in shares of Farmer Brothers Company (NASDAQ:FARM) by 5.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 72,448 shares of the company’s stock after selling 4,154 shares during the period. Rice Hall James & Associates LLC’s holdings in Farmer Brothers were worth $2,192,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Trexquant Investment LP purchased a new stake in shares of Farmer Brothers during the first quarter valued at about $205,000. Hodges Capital Management Inc. bought a new position in Farmer Brothers during the first quarter valued at approximately $303,000. TFS Capital LLC bought a new position in Farmer Brothers during the first quarter valued at approximately $268,000. Karp Capital Management Corp bought a new position in Farmer Brothers during the first quarter valued at approximately $341,000. Finally, Teton Advisors Inc. raised its position in Farmer Brothers by 5.2% in the first quarter. Teton Advisors Inc. now owns 206,013 shares of the company’s stock valued at $7,283,000 after buying an additional 10,100 shares during the period. Hedge funds and other institutional investors own 49.23% of the company’s stock.
Farmer Brothers Company (FARM) opened at 30.85 on Tuesday. Farmer Brothers Company has a 1-year low of $28.90 and a 1-year high of $37.55. The stock has a 50 day moving average of $30.55 and a 200-day moving average of $32.55. The firm has a market capitalization of $512.26 million, a P/E ratio of 4.80 and a beta of 0.48.
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A number of equities analysts recently issued reports on the company. B. Riley reissued a “buy” rating and issued a $37.25 price objective on shares of Farmer Brothers in a report on Monday, July 10th. TheStreet downgraded Farmer Brothers from a “b” rating to a “c+” rating in a research report on Tuesday, May 30th. ValuEngine upgraded Farmer Brothers from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research downgraded Farmer Brothers from a “hold” rating to a “sell” rating in a research report on Thursday, May 11th.
In other Farmer Brothers news, major shareholder Carol Farmer Waite sold 350,000 shares of the business’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 legal filing with the SEC, which is available through the SEC website. Insiders own 9.20% of the company’s stock.
About Farmer Brothers
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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