Today: The Emerald Acquisition Ltd. Acquires Shares of 34,560 Farmer Brothers Co. (FARM)

The Emerald Acquisition Ltd. Acquires Shares of 34,560 Farmer Brothers Co. (FARM)

Emerald Acquisition Ltd. bought a new position in Farmer Brothers Co. (NASDAQ:FARM) during the second quarter, Holdings Channel reports. The fund bought 34,560 shares of the company’s stock, valued at approximately $1,108,000. Emerald Acquisition Ltd. owned approximately 0.21% of Farmer Brothers at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of FARM. Springbok Capital Management LLC boosted its position in shares of Farmer Brothers by 28.9% in the first quarter. Springbok Capital Management LLC now owns 4,900 shares of the company’s stock worth $137,000 after buying an additional 1,100 shares in the last quarter. Spark Investment Management LLC acquired a new position in shares of Farmer Brothers during the first quarter worth about $259,000. AXA acquired a new position in shares of Farmer Brothers during the first quarter worth about $321,000. Barclays PLC boosted its position in shares of Farmer Brothers by 94.7% in the first quarter. Barclays PLC now owns 14,600 shares of the company’s stock worth $394,000 after buying an additional 7,100 shares in the last quarter. Finally, Boothbay Fund Management LLC boosted its position in shares of Farmer Brothers by 50.1% in the first quarter. Boothbay Fund Management LLC now owns 15,931 shares of the company’s stock worth $444,000 after buying an additional 5,320 shares in the last quarter. 45.85% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Farmer Brothers Co. (NASDAQ:FARM) traded down 2.36% during midday trading on Friday, hitting $32.72. 87,472 shares of the company’s stock traded hands. Farmer Brothers Co. has a 1-year low of $24.04 and a 1-year high of $36.96. The firm has a market capitalization of $541.84 million, a price-to-earnings ratio of 6.06 and a beta of 0.94. The company has a 50 day moving average price of $33.54 and a 200 day moving average price of $30.99.

Farmer Brothers (NASDAQ:FARM) last announced its earnings results on Monday, September 12th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.32 by $0.09. The firm earned $134.20 million during the quarter, compared to the consensus estimate of $135.56 million. Farmer Brothers had a return on equity of 14.69% and a net margin of 16.52%. The company’s revenue was up 1.2% on a year-over-year basis. Equities analysts anticipate that Farmer Brothers Co. will post $1.25 earnings per share for the current year.

A number of brokerages have issued reports on FARM. B. Riley reissued a “buy” rating and issued a $38.00 target price on shares of Farmer Brothers in a report on Monday, September 19th. Zacks Investment Research cut shares of Farmer Brothers from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th.

In related news, CEO Michael H. Keown sold 12,000 shares of Farmer Brothers stock in a transaction on Monday, September 12th. The shares were sold at an average price of $32.59, for a total value of $391,080.00. Following the transaction, the chief executive officer now owns 59,242 shares in the company, valued at approximately $1,930,696.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 38.10% of the stock is currently owned by corporate insiders.

Farmer Brothers Company Profile

Farmer Bros. Co is a manufacturer, wholesaler and distributor of coffee, tea and culinary products. The Company’s customers include restaurants, hotels, casinos, offices, quick service restaurants (QSRs), convenience stores, healthcare facilities and other foodservice providers, as well as private brand retailers in the QSR, grocery, drugstore, restaurant, convenience store and coffee house channels.

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