Farmer Brothers Company (FARM) Upgraded at TheStreet
Farmer Brothers Company (NASDAQ:FARM) was upgraded by stock analysts at TheStreet from a “c+” rating to a “b-” rating in a report released on Wednesday.
Several other brokerages have also recently commented on FARM. B. Riley reaffirmed a “buy” rating and set a $37.25 target price on shares of Farmer Brothers in a report on Wednesday, August 23rd. ValuEngine raised shares of Farmer Brothers from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd. Finally, Zacks Investment Research cut shares of Farmer Brothers from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th.
Farmer Brothers (NASDAQ:FARM) last announced its earnings results on Thursday, September 28th. The company reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.04. Farmer Brothers had a net margin of 4.51% and a return on equity of 6.94%. The company had revenue of $133.80 million for the quarter, compared to analysts’ expectations of $135.72 million. During the same period last year, the firm earned $0.23 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis.
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In other news, major shareholder Carol Farmer Waite sold 350,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were 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 can be accessed through this link. 9.20% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. Analytic Investors LLC increased its stake in Farmer Brothers by 1.3% in the third quarter. Analytic Investors LLC now owns 8,079 shares of the company’s stock valued at $287,000 after acquiring an additional 100 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Farmer Brothers by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 40,301 shares of the company’s stock valued at $1,220,000 after acquiring an additional 247 shares during the last quarter. Fortaleza Asset Management Inc. increased its stake in Farmer Brothers by 8.0% in the fourth quarter. Fortaleza Asset Management Inc. now owns 3,990 shares of the company’s stock valued at $146,000 after acquiring an additional 295 shares during the last quarter. American International Group Inc. increased its stake in Farmer Brothers by 7.0% in the first quarter. American International Group Inc. now owns 4,977 shares of the company’s stock valued at $176,000 after acquiring an additional 326 shares during the last quarter. Finally, Nationwide Fund Advisors increased its stake in Farmer Brothers by 6.9% in the second quarter. Nationwide Fund Advisors now owns 5,825 shares of the company’s stock valued at $176,000 after acquiring an additional 378 shares during the last quarter. 53.39% of the stock is currently owned by institutional investors and hedge funds.
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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