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. “
Several other brokerages have also weighed in on FARM. ValuEngine lowered Farmer Bros from a buy rating to a hold rating in a report on Tuesday, January 15th. BidaskClub lowered Farmer Bros from a sell rating to a strong sell rating in a report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $33.75.
Farmer Bros (NASDAQ:FARM) last announced its quarterly earnings data on Monday, February 11th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.14). Farmer Bros had a negative net margin of 2.74% and a negative return on equity of 2.67%. The firm had revenue of $159.77 million for the quarter, compared to the consensus estimate of $162.79 million. Analysts anticipate that Farmer Bros will post -0.11 earnings per share for the current year.
In related news, major shareholder Levin Easterly Partners Llc bought 97,879 shares of the company’s stock in a transaction on Monday, April 15th. The shares were purchased at an average price of $19.73 per share, for a total transaction of $1,931,152.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 10.90% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of FARM. Trigran Investments Inc. lifted its position in shares of Farmer Bros by 20.6% during the fourth quarter. Trigran Investments Inc. now owns 1,729,685 shares of the company’s stock worth $40,354,000 after acquiring an additional 295,753 shares in the last quarter. North Star Investment Management Corp. lifted its position in shares of Farmer Bros by 45.1% during the first quarter. North Star Investment Management Corp. now owns 135,150 shares of the company’s stock worth $2,704,000 after acquiring an additional 42,000 shares in the last quarter. BlackRock Inc. lifted its position in shares of Farmer Bros by 6.1% during the fourth quarter. BlackRock Inc. now owns 709,790 shares of the company’s stock worth $16,558,000 after acquiring an additional 40,612 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of Farmer Bros by 97.7% during the fourth quarter. Two Sigma Investments LP now owns 64,848 shares of the company’s stock worth $1,513,000 after acquiring an additional 32,051 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of Farmer Bros by 166.7% during the fourth quarter. Two Sigma Advisers LP now owns 41,600 shares of the company’s stock worth $971,000 after acquiring an additional 26,000 shares in the last quarter. Hedge funds and other institutional investors own 60.08% of the company’s stock.
Farmer Bros 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 cold brew and iced coffee.
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