Farmer Brothers (NASDAQ:FARM) Issues Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Key Points

• Farmer Brothers reported a quarterly earnings per share of ($0.02), exceeding expectations by $0.17, as analysts had projected ($0.19).
• The company's stock price increased to $2.33, with a trading volume significantly higher than its average, indicating a potential interest in the stock.
• Institutional investors have increased their holdings in Farmer Brothers, with significant investments from firms like Goldman Sachs, which raised its stake by 253.7% in the first quarter.

Farmer Brothers (NASDAQ:FARM - Get Free Report) announced its earnings results on Thursday. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.17, Zacks reports. Farmer Brothers had a negative return on equity of 26.00% and a negative net margin of 4.20%.

Farmer Brothers Stock Performance

Shares of NASDAQ FARM traded up $0.37 during midday trading on Thursday, reaching $2.33. 1,104,887 shares of the company traded hands, compared to its average volume of 364,490. The company has a market cap of $50.23 million, a price-to-earnings ratio of -3.43 and a beta of 1.53. The stock has a 50-day moving average price of $1.71 and a 200 day moving average price of $1.82. Farmer Brothers has a 52 week low of $1.34 and a 52 week high of $3.29. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.30 and a quick ratio of 0.51.

Institutional Trading of Farmer Brothers

A number of hedge funds and other institutional investors have recently made changes to their positions in FARM. Gabelli Funds LLC raised its holdings in Farmer Brothers by 2.3% during the second quarter. Gabelli Funds LLC now owns 272,500 shares of the company's stock worth $373,000 after purchasing an additional 6,000 shares in the last quarter. Jane Street Group LLC increased its position in shares of Farmer Brothers by 152.2% during the 1st quarter. Jane Street Group LLC now owns 41,129 shares of the company's stock valued at $91,000 after purchasing an additional 24,820 shares during the period. XTX Topco Ltd raised its stake in shares of Farmer Brothers by 210.2% in the 2nd quarter. XTX Topco Ltd now owns 42,297 shares of the company's stock worth $58,000 after buying an additional 28,661 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Farmer Brothers by 253.7% in the first quarter. Goldman Sachs Group Inc. now owns 68,833 shares of the company's stock valued at $153,000 after buying an additional 49,374 shares during the period. 64.48% of the stock is currently owned by institutional investors.

About Farmer Brothers

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.

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