BidaskClub lowered shares of Farmer Brothers (NASDAQ:FARM) from a sell rating to a strong sell rating in a research note published on Friday.
Several other equities research analysts also recently issued reports on the stock. B. Riley reiterated a buy rating and set a $38.50 price objective on shares of Farmer Brothers in a research note on Wednesday, November 8th. TheStreet upgraded shares of Farmer Brothers from a c+ rating to a b- rating in a research note on Wednesday, November 1st. Finally, Zacks Investment Research downgraded shares of Farmer Brothers from a hold rating to a sell rating in a research note on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $36.75.
Shares of Farmer Brothers (FARM) opened at $32.15 on Friday. Farmer Brothers has a 52 week low of $28.75 and a 52 week high of $37.35. The stock has a market cap of $541.51, a P/E ratio of 24.54 and a beta of 0.48.
In other news, CEO Michael H. Keown sold 22,000 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $30.96, for a total value of $681,120.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher P. Mottern bought 2,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was purchased at an average price of $31.45 per share, with a total value of $62,900.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 6,000 shares of company stock valued at $192,590 and have sold 40,764 shares valued at $1,319,029. 9.30% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the company. Heartland Advisors Inc. boosted its stake in shares of Farmer Brothers by 94.7% in the second quarter. Heartland Advisors Inc. now owns 267,304 shares of the company’s stock valued at $8,086,000 after purchasing an additional 130,017 shares during the period. Northern Trust Corp boosted its stake in shares of Farmer Brothers by 2.1% in the second quarter. Northern Trust Corp now owns 153,118 shares of the company’s stock valued at $4,631,000 after purchasing an additional 3,210 shares during the period. Marshall Wace North America L.P. purchased a new position in shares of Farmer Brothers in the second quarter valued at $1,919,000. Dimensional Fund Advisors LP boosted its stake in shares of Farmer Brothers by 11.4% in the second quarter. Dimensional Fund Advisors LP now owns 732,654 shares of the company’s stock valued at $22,163,000 after purchasing an additional 74,796 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Farmer Brothers by 4.3% in the second quarter. Vanguard Group Inc. now owns 534,948 shares of the company’s stock valued at $16,182,000 after purchasing an additional 21,825 shares during the period. Institutional investors and hedge funds own 55.90% of the company’s stock.
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About Farmer Brothers
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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