Farmer Brothers Company (NASDAQ:FARM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

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 research analysts have also recently commented on the company. B. Riley reiterated a “buy” rating and set a $37.25 target price on shares of Farmer Brothers in a report on Wednesday, August 23rd. ValuEngine upgraded Farmer Brothers from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd.

Shares of Farmer Brothers (NASDAQ FARM) traded down 1.40% during mid-day trading on Wednesday, hitting $31.60. The stock had a trading volume of 42,700 shares. Farmer Brothers has a 52-week low of $28.75 and a 52-week high of $37.55. The company has a market cap of $527.72 million, a PE ratio of 21.79 and a beta of 0.44. The stock has a 50 day moving average price of $31.40 and a 200-day moving average price of $32.09.

Farmer Brothers (NASDAQ:FARM) last released its quarterly earnings data on Thursday, September 28th. The company reported $0.19 earnings per share for the quarter, beating the 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 during the quarter, compared to the consensus estimate of $135.72 million. During the same period last year, the business posted $0.23 EPS. Farmer Brothers’s quarterly revenue was down .3% on a year-over-year basis. On average, equities analysts expect that Farmer Brothers will post $0.67 earnings per share for the current fiscal year.

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In other Farmer Brothers news, major shareholder Carol Farmer Waite sold 350,000 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $29.60, for a total transaction of $10,360,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 9.20% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in shares of Farmer Brothers by 62.8% during the first quarter. Wellington Management Group LLP now owns 1,337,166 shares of the company’s stock worth $47,269,000 after purchasing an additional 515,867 shares during the last quarter. Trigran Investments Inc. boosted its holdings in shares of Farmer Brothers by 1.7% during the second quarter. Trigran Investments Inc. now owns 1,140,924 shares of the company’s stock worth $36,578,000 after purchasing an additional 18,668 shares during the last quarter. Dimensional Fund Advisors LP boosted 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 purchasing an additional 74,796 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Farmer Brothers by 4.3% during the second quarter. Vanguard Group Inc. now owns 534,948 shares of the company’s stock worth $16,182,000 after purchasing an additional 21,825 shares during the last quarter. Finally, Royce & Associates LP boosted its holdings in shares of Farmer Brothers by 1.4% during the fourth quarter. Royce & Associates LP now owns 513,877 shares of the company’s stock worth $18,859,000 after purchasing an additional 6,900 shares during the last quarter. Institutional investors and hedge funds own 54.20% of the company’s stock.

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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