Farmer Bros Co (FARM) CEO Michael H. Keown Sells 23,333 Shares of Stock

Farmer Bros Co (NASDAQ:FARM) CEO Michael H. Keown sold 23,333 shares of the firm’s stock in a transaction on Monday, June 11th. The stock was sold at an average price of $29.62, for a total transaction of $691,123.46. Following the sale, the chief executive officer now owns 68,405 shares in the company, valued at $2,026,156.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

FARM stock traded down $0.05 during midday trading on Thursday, hitting $30.50. The company’s stock had a trading volume of 1,622 shares, compared to its average volume of 81,605. Farmer Bros Co has a twelve month low of $23.60 and a twelve month high of $35.05. The firm has a market capitalization of $501.07 million, a P/E ratio of 43.64 and a beta of 0.51.

Farmer Bros (NASDAQ:FARM) last issued its quarterly earnings results on Tuesday, May 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.40). Farmer Bros had a negative net margin of 3.82% and a positive return on equity of 1.41%. The business had revenue of $157.93 million during the quarter, compared to analyst estimates of $161.46 million. During the same quarter in the previous year, the firm posted $0.17 earnings per share. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. equities analysts expect that Farmer Bros Co will post -1.18 earnings per share for the current fiscal year.

A number of equities research analysts recently commented on FARM shares. BidaskClub upgraded shares of Farmer Bros from a “sell” rating to a “hold” rating in a report on Wednesday, February 14th. Roth Capital restated a “buy” rating and set a $41.00 price objective on shares of Farmer Bros in a report on Thursday, March 8th. Zacks Investment Research lowered shares of Farmer Bros from a “hold” rating to a “sell” rating in a report on Wednesday, April 4th. Lake Street Capital restated a “buy” rating and set a $36.00 price objective (down from $40.00) on shares of Farmer Bros in a report on Wednesday, May 9th. Finally, B. Riley lowered their price target on shares of Farmer Bros from $38.50 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday, May 9th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Farmer Bros has an average rating of “Buy” and an average price target of $34.25.

A number of hedge funds have recently modified their holdings of the business. Suntrust Banks Inc. acquired a new stake in Farmer Bros in the 1st quarter valued at $259,000. Levin Capital Strategies L.P. increased its stake in Farmer Bros by 22.0% in the 1st quarter. Levin Capital Strategies L.P. now owns 198,721 shares of the company’s stock valued at $6,001,000 after buying an additional 35,861 shares during the last quarter. Barclays PLC increased its stake in Farmer Bros by 27.7% in the 1st quarter. Barclays PLC now owns 11,044 shares of the company’s stock valued at $335,000 after buying an additional 2,393 shares during the last quarter. Punch & Associates Investment Management Inc. increased its stake in Farmer Bros by 37.6% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 341,061 shares of the company’s stock valued at $10,300,000 after buying an additional 93,191 shares during the last quarter. Finally, GSA Capital Partners LLP increased its stake in Farmer Bros by 255.2% in the 1st quarter. GSA Capital Partners LLP now owns 41,149 shares of the company’s stock valued at $1,243,000 after buying an additional 29,565 shares during the last quarter. Hedge funds and other institutional investors own 58.01% of the company’s stock.

About Farmer Bros

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 iced coffee.

Insider Buying and Selling by Quarter for Farmer Bros (NASDAQ:FARM)

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