Northern Trust Corp Raises Stake in Farmer Bros Co (NASDAQ:FARM)

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Northern Trust Corp boosted its stake in Farmer Bros Co (NASDAQ:FARM) by 5.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 218,826 shares of the company’s stock after purchasing an additional 11,244 shares during the quarter. Northern Trust Corp owned about 1.28% of Farmer Bros worth $3,582,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in Farmer Bros by 22.7% in the second quarter. JPMorgan Chase & Co. now owns 3,772 shares of the company’s stock valued at $60,000 after purchasing an additional 698 shares during the period. Wells Fargo & Company MN grew its holdings in Farmer Bros by 5.5% in the second quarter. Wells Fargo & Company MN now owns 19,632 shares of the company’s stock valued at $322,000 after purchasing an additional 1,016 shares during the period. Swiss National Bank grew its holdings in Farmer Bros by 5.1% in the second quarter. Swiss National Bank now owns 20,500 shares of the company’s stock valued at $336,000 after purchasing an additional 1,000 shares during the period. Gamco Investors INC. ET AL grew its holdings in Farmer Bros by 56.7% in the second quarter. Gamco Investors INC. ET AL now owns 162,500 shares of the company’s stock valued at $2,660,000 after purchasing an additional 58,800 shares during the period. Finally, Teton Advisors Inc. grew its holdings in Farmer Bros by 25.3% in the second quarter. Teton Advisors Inc. now owns 366,021 shares of the company’s stock valued at $5,992,000 after purchasing an additional 73,987 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

A number of research firms recently issued reports on FARM. ValuEngine upgraded shares of Farmer Bros from a “hold” rating to a “buy” rating in a report on Monday, August 12th. Roth Capital lowered their target price on shares of Farmer Bros from $20.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. BidaskClub downgraded shares of Farmer Bros from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 7th. Lake Street Capital reduced their price target on shares of Farmer Bros from $26.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Finally, B. Riley reduced their price target on shares of Farmer Bros from $21.00 to $10.50 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $12.17.

NASDAQ FARM opened at $13.77 on Friday. The company’s fifty day simple moving average is $13.01 and its 200-day simple moving average is $16.72. Farmer Bros Co has a 52 week low of $10.26 and a 52 week high of $26.25. The company has a current ratio of 1.66, a quick ratio of 0.75 and a debt-to-equity ratio of 0.58. The stock has a market cap of $235.33 million, a P/E ratio of -12.75 and a beta of 0.22.

Farmer Bros (NASDAQ:FARM) last posted its earnings results on Tuesday, September 10th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.37). Farmer Bros had a negative return on equity of 9.51% and a negative net margin of 12.35%. The firm had revenue of $142.05 million for the quarter, compared to analyst estimates of $146.90 million. On average, research analysts expect that Farmer Bros Co will post -0.53 EPS for the current fiscal year.

In other news, major shareholder Levin Easterly Partners Llc bought 9,342 shares of Farmer Bros stock in a transaction dated Wednesday, July 31st. The shares were acquired at an average cost of $16.47 per share, with a total value of $153,862.74. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Randy E. Clark purchased 3,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was bought at an average cost of $14.11 per share, for a total transaction of $42,330.00. Following the completion of the acquisition, the director now directly owns 21,928 shares of the company’s stock, valued at $309,404.08. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 16,871 shares of company stock worth $259,561. Corporate insiders own 10.90% of the company’s stock.

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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