Once Upon A Farm $OFRM Stock Sold by Bank of America Corp DE

Key Points

• Bank of America cut its Once Upon A Farm stake by 86.1% in the second quarter, selling 61,909 shares and retaining 9,976 shares valued at approximately $204,000.
• Institutional interest was mixed: Nicholas Investment Partners increased its holdings by 271.9%, while Jupiter Topco, Lisanti Capital Growth and Bank of New York Mellon initiated new positions.
• Analysts have a consensus “Hold” rating with an average price target of $25.88. OFRM opened at $16.31, while the company reported quarterly revenue of $85.39 million and an adjusted loss of $0.12 per share, beating expectations.

Bank of America Corp DE lessened its position in shares of Once Upon A Farm (NYSE:OFRM - Free Report) by 86.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,976 shares of the organic kids food company's stock after selling 61,909 shares during the quarter. Bank of America Corp DE's holdings in Once Upon A Farm were worth $204,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new position in Once Upon A Farm during the second quarter worth about $781,000. Lisanti Capital Growth LLC acquired a new position in shares of Once Upon A Farm during the 2nd quarter worth approximately $1,665,000. Deutsche Bank AG raised its position in shares of Once Upon A Farm by 3.0% during the 2nd quarter. Deutsche Bank AG now owns 102,990 shares of the organic kids food company's stock worth $2,109,000 after purchasing an additional 2,990 shares during the last quarter. Jupiter Topco LLC purchased a new stake in Once Upon A Farm in the 2nd quarter valued at approximately $9,468,000. Finally, Nicholas Investment Partners LP grew its holdings in Once Upon A Farm by 271.9% during the 2nd quarter. Nicholas Investment Partners LP now owns 784,166 shares of the organic kids food company's stock valued at $16,060,000 after buying an additional 573,285 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OFRM. Barclays raised their price target on Once Upon A Farm from $18.00 to $19.00 and gave the stock an "equal weight" rating in a research report on Monday, August 10th. Weiss Ratings raised Once Upon A Farm from a "sell (e-)" rating to a "sell (e)" rating in a research note on Wednesday, August 12th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Once Upon A Farm from $22.00 to $26.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Once Upon A Farm presently has a consensus rating of "Hold" and an average target price of $25.88.

Once Upon A Farm Price Performance

OFRM opened at $16.31 on Tuesday. Once Upon A Farm has a 12 month low of $14.00 and a 12 month high of $27.00. The business has a 50-day moving average of $16.83 and a two-hundred day moving average of $16.81. The stock has a market capitalization of $684.86 million and a price-to-earnings ratio of -45.31.

Once Upon A Farm (NYSE:OFRM - Get Free Report) last released its earnings results on Thursday, August 6th. The organic kids food company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.06. The company had revenue of $85.39 million during the quarter. Equities research analysts anticipate that Once Upon A Farm will post -0.22 earnings per share for the current year.

Once Upon A Farm Profile

Once Upon A Farm, Inc is a food company focused on organic, clean-label nutrition for babies, toddlers, children and families. Its products are made with fruit, vegetables and other recognizable ingredients, with an emphasis on refrigerated and minimally processed foods.

The company's product portfolio includes refrigerated baby food pouches, toddler meals, applesauce and fruit pouches, smoothies, snacks and other children's foods. Once Upon A Farm sells its products through grocery stores, mass retailers, natural-food retailers and e-commerce channels in the United States.

Once Upon A Farm was founded in 2015 by Cassandra Curtis and Ari Raz, with John Foraker, a former Annie's executive, later joining the company as chief executive officer.

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