Zacks Investment Research downgraded shares of Farmer Brothers Co. (NASDAQ:FARM) from a hold rating to a sell rating in a research report released on Thursday.
According to Zacks, “Farmer Bros. Co. is in the business of roasting, packaging and distributing coffee and allied products to restaurants, hotels, hospitals, convenience stores and fast food outlets. The company’s primary raw material is green coffee. Green coffee is purchased through domestic commodity brokers. Coffee is an agricultural commodity, and is subject to fluctuations of both price and supply. “
Separately, B. Riley reiterated a buy rating and issued a $38.50 target price on shares of Farmer Brothers in a research note on Monday.
Shares of Farmer Brothers (NASDAQ:FARM) traded down 1.03% during trading on Thursday, reaching $33.70. 23,617 shares of the company’s stock were exchanged. Farmer Brothers has a 52-week low of $26.69 and a 52-week high of $37.55. The firm has a market capitalization of $558.88 million, a P/E ratio of 5.28 and a beta of 1.04. The company has a 50 day moving average of $35.14 and a 200 day moving average of $34.19.
Farmer Brothers (NASDAQ:FARM) last posted its earnings results on Tuesday, May 9th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by $0.03. Farmer Brothers had a net margin of 19.91% and a return on equity of 9.25%. The firm had revenue of $138.20 million during the quarter, compared to analyst estimates of $136.88 million. The company’s revenue was up 2.8% on a year-over-year basis. Equities analysts anticipate that Farmer Brothers will post $0.70 earnings per share for the current fiscal year.
In other Farmer Brothers news, CEO Michael H. Keown sold 12,000 shares of the firm’s stock in a transaction on Friday, March 10th. The shares were sold at an average price of $31.66, for a total value of $379,920.00. Following the sale, the chief executive officer now directly owns 59,242 shares in the company, valued at approximately $1,875,601.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 38.10% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN raised its stake in Farmer Brothers by 23.3% in the third quarter. Wells Fargo & Company MN now owns 10,052 shares of the company’s stock valued at $357,000 after buying an additional 1,902 shares in the last quarter. Mutual of America Capital Management LLC raised its stake in Farmer Brothers by 0.5% in the third quarter. Mutual of America Capital Management LLC now owns 137,809 shares of the company’s stock valued at $4,899,000 after buying an additional 676 shares in the last quarter. Geduld E E raised its stake in Farmer Brothers by 25.0% in the third quarter. Geduld E E now owns 12,500 shares of the company’s stock valued at $444,000 after buying an additional 2,500 shares in the last quarter. Granite Investment Partners LLC raised its stake in Farmer Brothers by 187.5% in the third quarter. Granite Investment Partners LLC now owns 336,913 shares of the company’s stock valued at $11,977,000 after buying an additional 219,709 shares in the last quarter. Finally, Spark Investment Management LLC raised its stake in Farmer Brothers by 84.9% in the third quarter. Spark Investment Management LLC now owns 17,200 shares of the company’s stock valued at $611,000 after buying an additional 7,900 shares in the last quarter. Institutional investors own 48.28% of the company’s stock.
Farmer Brothers Company Profile
Farmer Bros. Co is a national coffee roaster, wholesaler and distributor of coffee, tea and culinary products. The Company offers private brand and consumer-branded coffee products to small independent restaurants and foodservice operators, and institutional buyers. Its product line includes organic, Direct Trade, Direct Trade Verified Sustainable (DTVS) coffees and other coffees, iced and hot teas, cappuccino, spices, and baking/biscuit mixes.
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