Hodges Capital Management Inc. Cuts Position in Farmer Bros. Co. (NASDAQ:FARM)

Hodges Capital Management Inc. reduced its position in shares of Farmer Bros. Co. (NASDAQ:FARM) by 36.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,500 shares of the company’s stock after selling 21,150 shares during the period. Hodges Capital Management Inc. owned about 0.18% of Farmer Bros. worth $68,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of FARM. PFG Investments LLC acquired a new position in Farmer Bros. during the 3rd quarter worth about $33,000. Global Wealth Management Investment Advisory Inc. increased its stake in Farmer Bros. by 58.3% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 19,000 shares of the company’s stock worth $38,000 after purchasing an additional 7,000 shares during the period. Sanders Morris Harris LLC lifted its position in shares of Farmer Bros. by 53.8% during the third quarter. Sanders Morris Harris LLC now owns 154,283 shares of the company’s stock worth $305,000 after purchasing an additional 54,000 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Farmer Bros. by 5.8% in the third quarter. Geode Capital Management LLC now owns 209,288 shares of the company’s stock valued at $414,000 after purchasing an additional 11,390 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake 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 period. 64.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Farmer Bros. in a report on Saturday. They set a “hold” rating on the stock.

Farmer Bros. Price Performance

Shares of NASDAQ FARM opened at $1.81 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.32 and a quick ratio of 0.58. The company has a market cap of $38.64 million, a price-to-earnings ratio of -5.03 and a beta of 1.78. The stock’s 50-day moving average is $1.86 and its two-hundred day moving average is $2.14. Farmer Bros. Co. has a 1-year low of $1.60 and a 1-year high of $3.86.

Farmer Bros. (NASDAQ:FARM) last issued its earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share 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 during the quarter, compared to analyst estimates of $84.80 million. During the same period last year, the business earned ($0.06) EPS. Analysts forecast that Farmer Bros. Co. will post -0.62 EPS for the current fiscal year.

Farmer Bros. Company Profile

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.