Zacks Investment Research Lowers Farmer Brothers Company (FARM) to Sell

Zacks Investment Research lowered shares of Farmer Brothers Company (NASDAQ:FARM) from a hold rating to a sell rating in a research note issued 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 equities analysts have also issued reports on FARM. B. Riley reissued a buy rating and set a $37.25 price target (down previously from $39.50) on shares of Farmer Brothers in a report on Sunday, June 18th. ValuEngine raised Farmer Brothers from a sell rating to a hold rating in a report on Tuesday, August 22nd.

Farmer Brothers (NASDAQ:FARM) last released its quarterly earnings results on Thursday, September 28th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.04. Farmer Brothers had a return on equity of 6.94% and a net margin of 4.51%. The firm had revenue of $133.80 million for the quarter, compared to analyst estimates of $135.72 million. During the same quarter last year, the company posted $0.23 earnings per share. The business’s revenue was down .3% on a year-over-year basis.

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In related news, major shareholder Carol Farmer Waite sold 350,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $29.60, for a total transaction of $10,360,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 9.20% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its holdings in shares of Farmer Brothers by 12.4% during the second quarter. The Manufacturers Life Insurance Company now owns 7,492 shares of the company’s stock worth $227,000 after buying an additional 829 shares during the last quarter. State Street Corp grew its holdings in shares of Farmer Brothers by 11.6% during the second quarter. State Street Corp now owns 145,701 shares of the company’s stock worth $4,405,000 after buying an additional 15,188 shares during the last quarter. Capital World Investors grew its holdings in shares of Farmer Brothers by 150.7% during the second quarter. Capital World Investors now owns 425,000 shares of the company’s stock worth $12,856,000 after buying an additional 255,457 shares during the last quarter. Picton Mahoney Asset Management purchased a new position in shares of Farmer Brothers during the second quarter worth about $1,560,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Farmer Brothers by 11.4% during the second quarter. Dimensional Fund Advisors LP now owns 732,654 shares of the company’s stock worth $22,163,000 after buying an additional 74,796 shares during the last quarter. 54.20% of the stock is currently owned by hedge funds and other institutional investors.

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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