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 research firms have also commented on FARM. Lake Street Capital decreased their price objective on Farmer Bros from $36.00 to $26.00 and set a buy rating on the stock in a research note on Wednesday, May 8th. ValuEngine lowered Virtu Financial from a hold rating to a sell rating in a research note on Tuesday, June 18th. TheStreet raised WillScot from a d- rating to a c- rating in a research note on Wednesday, May 8th. B. Riley increased their price objective on Lumentum from $70.00 to $74.00 and gave the company a buy rating in a research note on Wednesday, May 8th. Finally, BidaskClub raised Misonix from a buy rating to a strong-buy rating in a research note on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $22.33.
Farmer Bros (NASDAQ:FARM) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($3.05) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($3.11). The company had revenue of $146.70 million for the quarter, compared to analyst estimates of $152.03 million. Farmer Bros had a negative net margin of 10.72% and a negative return on equity of 3.34%. The firm’s revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.20) EPS. On average, equities research analysts anticipate that Farmer Bros will post -0.81 earnings per share for the current fiscal year.
In related news, major shareholder Levin Easterly Partners Llc bought 97,879 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were acquired at an average cost of $19.73 per share, for a total transaction of $1,931,152.67. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have purchased 259,730 shares of company stock worth $4,805,208. Company insiders own 10.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Trigran Investments Inc. grew its position in shares of Farmer Bros by 1.1% in the 1st quarter. Trigran Investments Inc. now owns 1,749,278 shares of the company’s stock worth $35,003,000 after acquiring an additional 19,593 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Farmer Bros by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 929,387 shares of the company’s stock valued at $21,682,000 after buying an additional 10,015 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Farmer Bros by 6.1% during the fourth quarter. BlackRock Inc. now owns 709,790 shares of the company’s stock valued at $16,558,000 after buying an additional 40,612 shares in the last quarter. Granite Investment Partners LLC grew its holdings in shares of Farmer Bros by 21.6% during the first quarter. Granite Investment Partners LLC now owns 507,599 shares of the company’s stock valued at $10,157,000 after buying an additional 90,019 shares in the last quarter. Finally, Kennedy Capital Management Inc. grew its holdings in shares of Farmer Bros by 10.1% during the first quarter. Kennedy Capital Management Inc. now owns 446,082 shares of the company’s stock valued at $8,926,000 after buying an additional 40,869 shares in the last quarter. Hedge funds and other institutional investors own 65.40% of the company’s stock.
About Farmer Bros
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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