Vanguard Group Inc. Acquires 65,277 Shares of Farmer Bros. Co. (NASDAQ:FARM)

Vanguard Group Inc. lifted its holdings in shares of Farmer Bros. Co. (NASDAQ:FARM) by 8.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 824,528 shares of the company’s stock after acquiring an additional 65,277 shares during the quarter. Vanguard Group Inc.’s holdings in Farmer Bros. were worth $2,944,000 as of its most recent SEC filing.

Separately, Kestra Private Wealth Services LLC boosted its position in Farmer Bros. by 169.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 31,815 shares of the company’s stock worth $97,000 after purchasing an additional 19,990 shares during the period. 64.48% of the stock is currently owned by institutional investors and hedge funds.

Farmer Bros. Stock Performance

FARM opened at $2.66 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 0.65. The business has a fifty day simple moving average of $2.70 and a 200 day simple moving average of $3.10. Farmer Bros. Co. has a 1 year low of $1.80 and a 1 year high of $4.04. The company has a market capitalization of $56.56 million, a PE ratio of -1.16 and a beta of 1.82.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FARM. StockNews.com raised shares of Farmer Bros. from a “hold” rating to a “buy” rating in a research report on Sunday, May 19th. Craig Hallum started coverage on shares of Farmer Bros. in a report on Monday, June 17th. They issued a “buy” rating and a $6.00 price target on the stock.

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.