BNP Paribas Arbitrage SA Increases Stake in Farmer Bros Co (NASDAQ:FARM)

BNP Paribas Arbitrage SA increased its position in shares of Farmer Bros Co (NASDAQ:FARM) by 415.4% during the first quarter, Holdings Channel reports. The institutional investor owned 2,103 shares of the company’s stock after purchasing an additional 1,695 shares during the period. BNP Paribas Arbitrage SA’s holdings in Farmer Bros were worth $42,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of FARM. Vanguard Group Inc. lifted its stake in Farmer Bros by 3.7% during the third quarter. Vanguard Group Inc. now owns 580,677 shares of the company’s stock valued at $15,330,000 after purchasing an additional 20,649 shares during the last quarter. Rhumbline Advisers lifted its stake in Farmer Bros by 40.5% during the fourth quarter. Rhumbline Advisers now owns 15,243 shares of the company’s stock valued at $356,000 after purchasing an additional 4,392 shares during the last quarter. BlackRock Inc. lifted its stake in Farmer Bros by 6.1% during the fourth quarter. BlackRock Inc. now owns 709,790 shares of the company’s stock valued at $16,558,000 after purchasing an additional 40,612 shares during the last quarter. Trigran Investments Inc. lifted its stake in Farmer Bros by 20.6% during the fourth quarter. Trigran Investments Inc. now owns 1,729,685 shares of the company’s stock valued at $40,354,000 after purchasing an additional 295,753 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Farmer Bros by 2.0% during the fourth quarter. Northern Trust Corp now owns 197,008 shares of the company’s stock valued at $4,597,000 after purchasing an additional 3,926 shares during the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

In other news, major shareholder Levin Easterly Partners Llc purchased 97,879 shares of Farmer Bros stock in a transaction that occurred on Monday, April 15th. The stock was acquired at an average price of $19.73 per share, for a total transaction of $1,931,152.67. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders purchased 724,424 shares of company stock valued at $14,029,384. 10.90% of the stock is owned by insiders.

Shares of NASDAQ:FARM opened at $18.73 on Wednesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.03 and a quick ratio of 0.93. The company has a market capitalization of $318.48 million, a P/E ratio of 144.08 and a beta of 0.24. Farmer Bros Co has a 52 week low of $16.92 and a 52 week high of $31.50.

Farmer Bros (NASDAQ:FARM) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($3.05) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($3.11). The firm had revenue of $146.70 million during the quarter, compared to analysts’ expectations of $152.03 million. Farmer Bros had a negative net margin of 10.72% and a negative return on equity of 3.34%. The firm’s revenue was down 7.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.20) EPS. On average, research analysts expect that Farmer Bros Co will post -0.81 earnings per share for the current year.

Several brokerages recently commented on FARM. BidaskClub upgraded shares of Farmer Bros from a “sell” rating to a “hold” rating in a research report on Tuesday. ValuEngine upgraded shares of Farmer Bros from a “sell” rating to a “hold” rating in a research report on Friday, May 24th. Zacks Investment Research downgraded shares of Farmer Bros from a “hold” rating to a “strong sell” rating in a research report on Friday, May 10th. TheStreet downgraded shares of Farmer Bros from a “c” rating to a “d+” rating in a research report on Wednesday, May 8th. Finally, Roth Capital restated a “neutral” rating and issued a $20.00 price target (down previously from $28.00) on shares of Farmer Bros in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $22.33.

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Farmer Bros Company 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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