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Bank of New York Mellon Corp Has $3.23 Million Position in Farmer Brothers Company

Bank of New York Mellon Corp increased its position in shares of Farmer Brothers Company (NASDAQ:FARM) by 11.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 106,630 shares of the companys stock after acquiring an additional 10,980 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.64% of Farmer Brothers worth $3,226,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Rhumbline Advisers boosted its position in Farmer Brothers by 16.7% during the second quarter. Rhumbline Advisers now owns 11,046 shares of the companys stock worth $334,000 after acquiring an additional 1,580 shares during the last quarter. Granite Investment Partners LLC boosted its position in Farmer Brothers by 0.8% during the second quarter. Granite Investment Partners LLC now owns 408,765 shares of the companys stock worth $12,365,000 after acquiring an additional 3,409 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Farmer Brothers by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 40,301 shares of the companys stock worth $1,220,000 after acquiring an additional 247 shares during the last quarter. Hodges Capital Management Inc. boosted its position in Farmer Brothers by 951.0% during the second quarter. Hodges Capital Management Inc. now owns 90,000 shares of the companys stock worth $2,722,000 after acquiring an additional 81,437 shares during the last quarter. Finally, Anchor Capital Advisors LLC boosted its position in Farmer Brothers by 1.8% during the second quarter. Anchor Capital Advisors LLC now owns 59,260 shares of the companys stock worth $1,793,000 after acquiring an additional 1,044 shares during the last quarter. Hedge funds and other institutional investors own 54.20% of the companys stock.

Shares of Farmer Brothers Company (NASDAQ FARM) opened at 31.50 on Tuesday. The firm has a market cap of $526.05 million, a price-to-earnings ratio of 21.72 and a beta of 0.44. The companys 50-day moving average is $31.55 and its 200-day moving average is $32.03. Farmer Brothers Company has a 12 month low of $28.75 and a 12 month high of $37.55.

Farmer Brothers (NASDAQ:FARM) last released its earnings results on Thursday, September 28th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.04. The business had revenue of $133.80 million for the quarter, compared to the consensus estimate of $135.72 million. Farmer Brothers had a net margin of 4.51% and a return on equity of 6.94%. The firms quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the firm posted $0.23 earnings per share. On average, equities research analysts forecast that Farmer Brothers Company will post $0.67 earnings per share for the current fiscal year.

FARM has been the topic of a number of analyst reports. ValuEngine upgraded shares of Farmer Brothers from a sell rating to a hold rating in a research report on Tuesday, August 22nd. Zacks Investment Research lowered shares of Farmer Brothers from a hold rating to a sell rating in a research report on Wednesday, October 4th. Finally, B. Riley restated a buy rating and set a $38.50 target price on shares of Farmer Brothers in a research report on Wednesday, October 4th.

In other news, major shareholder Carol Farmer Waite sold 350,000 shares of Farmer Brothers stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $29.60, for a total value of $10,360,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 9.20% of the companys stock.

 

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