Geode Capital Management LLC Acquires 11,390 Shares of Farmer Bros. Co. (NASDAQ:FARM)

Geode Capital Management LLC increased its stake in shares of Farmer Bros. Co. (NASDAQ:FARM) by 5.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 209,288 shares of the company’s stock after acquiring an additional 11,390 shares during the period. Geode Capital Management LLC owned 0.98% of Farmer Bros. worth $414,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Global Wealth Management Investment Advisory Inc. boosted its holdings in shares of Farmer Bros. by 58.3% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 19,000 shares of the company’s stock worth $38,000 after buying an additional 7,000 shares during the period. PFG Investments LLC acquired a new position in Farmer Bros. during the 3rd quarter worth $33,000. Sanders Morris Harris LLC boosted its holdings in Farmer Bros. by 53.8% during the third quarter. Sanders Morris Harris LLC now owns 154,283 shares of the company’s stock valued at $305,000 after acquiring an additional 54,000 shares during the period. Renaissance Technologies LLC grew its position in shares of Farmer Bros. by 1.4% in the second quarter. Renaissance Technologies LLC now owns 559,500 shares of the company’s stock valued at $1,499,000 after purchasing an additional 7,600 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Farmer Bros. by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 367,919 shares of the company’s stock valued at $986,000 after purchasing an additional 17,327 shares during the last quarter. Institutional investors and hedge funds own 64.48% of the company’s stock.

Farmer Bros. Stock Performance

NASDAQ FARM opened at $1.77 on Monday. The company’s fifty day moving average is $1.95 and its two-hundred day moving average is $2.24. The firm has a market capitalization of $37.79 million, a price-to-earnings ratio of -4.92 and a beta of 1.80. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.32 and a quick ratio of 0.58. Farmer Bros. Co. has a 52-week low of $1.67 and a 52-week high of $4.04.

Farmer Bros. (NASDAQ:FARM) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.01). Farmer Bros. had a negative net margin of 2.20% and a negative return on equity of 35.41%. The firm had revenue of $85.07 million for the quarter, compared to the consensus estimate of $84.80 million. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. Equities research analysts forecast that Farmer Bros. Co. will post -0.62 EPS for the current year.

Analyst Ratings Changes

FARM has been the subject of several research analyst reports. StockNews.com downgraded Farmer Bros. from a “buy” rating to a “hold” rating in a research note on Monday, September 16th. Roth Mkm cut their price target on Farmer Bros. from $6.00 to $4.50 and set a “buy” rating for the company in a report on Wednesday, September 18th.

About Farmer Bros.

Farmer Bros. Co engages in the roasting, wholesale, equipment servicing, and distribution of coffee, tea, and other allied products in the United States. The company offers roast and ground coffee; frozen liquid coffee; flavoured and unflavoured iced and hot teas; culinary products, including spices, pancake and biscuit mixes, gravy and sauce mixes, soup bases, dressings, and syrups and sauces, as well as coffee filters, cups, sugar, and creamers; and other beverages comprising cappuccino, cocoa, granitas, and other blender-based beverages and concentrated and ready-to-drink cold brew and iced coffee.