Zacks Investment Research upgraded shares of Farmer Brothers (NASDAQ:FARM) from a sell rating to a hold rating in a research report sent to investors on Tuesday.
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. “
A number of other brokerages have also issued reports on FARM. BidaskClub lowered Farmer Brothers from a hold rating to a sell rating in a research report on Friday, December 15th. Roth Capital reissued a buy rating and issued a $41.00 target price on shares of Farmer Brothers in a research report on Thursday, March 8th. Finally, TheStreet lowered Farmer Brothers from a b- rating to a c rating in a research report on Tuesday, February 6th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $38.50.
Farmer Brothers (NASDAQ:FARM) last announced its earnings results on Tuesday, February 6th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($1.27). Farmer Brothers had a negative net margin of 2.98% and a positive return on equity of 4.43%. The firm had revenue of $167.37 million during the quarter, compared to analyst estimates of $161.62 million. During the same period in the prior year, the business posted $1.20 EPS. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. equities analysts expect that Farmer Brothers will post -0.59 earnings per share for the current year.
In related news, Director Christopher P. Mottern purchased 1,500 shares of the stock in a transaction on Wednesday, February 14th. The shares were purchased at an average price of $30.26 per share, with a total value of $45,390.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeanne Farmer Grossman sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $31.80, for a total value of $636,000.00. Following the transaction, the director now directly owns 18,874 shares in the company, valued at approximately $600,193.20. The disclosure for this sale can be found here. 9.20% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. increased its position in shares of Farmer Brothers by 4.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 44,591 shares of the company’s stock worth $1,434,000 after purchasing an additional 2,028 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Farmer Brothers by 18.3% during the 4th quarter. Wells Fargo & Company MN now owns 16,172 shares of the company’s stock worth $520,000 after purchasing an additional 2,502 shares during the last quarter. MetLife Investment Advisors LLC acquired a new position in shares of Farmer Brothers during the 4th quarter worth approximately $128,000. Geode Capital Management LLC increased its position in shares of Farmer Brothers by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 98,185 shares of the company’s stock worth $3,156,000 after purchasing an additional 5,132 shares during the last quarter. Finally, Deutsche Bank AG increased its position in shares of Farmer Brothers by 61.6% during the 4th quarter. Deutsche Bank AG now owns 19,753 shares of the company’s stock worth $633,000 after purchasing an additional 7,529 shares during the last quarter. 56.28% of the stock is currently owned by hedge funds and other institutional investors.
Farmer Brothers Company Profile
Farmer Bros. Co engages in the manufacture, wholesale, and distribution of coffee, tea, and culinary products in the United States. The company offers roast and ground coffee; frozen liquid coffee; flavored and unflavored iced and hot teas; culinary products, including gelatins and puddings, soup bases, dressings, gravy and sauce mixes, pancake and biscuit mixes, jellies and preserves, and coffee-related products, such as coffee filters, sugar, and creamers; spices; and other beverages comprising cappuccino, cocoa, granitas, and ready-to-drink iced coffee.
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