Farmer Bros Co (NASDAQ:FARM) – B. Riley boosted their FY2018 earnings estimates for shares of Farmer Bros in a research note issued to investors on Monday, September 10th, according to Zacks Investment Research. B. Riley analyst K. Anderson now forecasts that the company will post earnings of $0.07 per share for the year, up from their prior forecast of $0.06. B. Riley currently has a “Buy” rating and a $32.00 target price on the stock.
FARM has been the topic of several other reports. BidaskClub upgraded Farmer Bros from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 23rd. ValuEngine cut Farmer Bros from a “buy” rating to a “hold” rating in a research note on Monday, July 16th. Finally, Zacks Investment Research upgraded Farmer Bros from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Farmer Bros currently has a consensus rating of “Hold” and a consensus price target of $33.75.
FARM traded down $0.18 during trading hours on Wednesday, hitting $24.63. 62,887 shares of the stock were exchanged, compared to its average volume of 65,134. Farmer Bros has a 12 month low of $23.60 and a 12 month high of $35.05. The stock has a market capitalization of $447.60 million, a PE ratio of 189.46, a price-to-earnings-growth ratio of 10.48 and a beta of 0.22.
Hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its stake in Farmer Bros by 171.3% in the first quarter. JPMorgan Chase & Co. now owns 6,269 shares of the company’s stock valued at $189,000 after buying an additional 3,958 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new stake in Farmer Bros in the first quarter valued at $201,000. Suntrust Banks Inc. bought a new stake in Farmer Bros in the first quarter valued at $259,000. Barclays PLC lifted its stake in Farmer Bros by 27.7% in the first quarter. Barclays PLC now owns 11,044 shares of the company’s stock valued at $335,000 after buying an additional 2,393 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in Farmer Bros by 18.2% in the second quarter. First Trust Advisors LP now owns 12,087 shares of the company’s stock valued at $369,000 after buying an additional 1,860 shares during the last quarter. Institutional investors own 60.25% of the company’s stock.
In other Farmer Bros news, major shareholder Carol Farmer Waite sold 1,805 shares of the firm’s stock in a transaction on Friday, July 13th. The stock was sold at an average price of $29.88, for a total value of $53,933.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael H. Keown sold 23,333 shares of the firm’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $28.03, for a total value of $654,023.99. Following the completion of the sale, the chief executive officer now owns 68,405 shares in the company, valued at $1,917,392.15. The disclosure for this sale can be found here. Insiders have sold 71,771 shares of company stock worth $2,031,088 over the last 90 days. 9.30% of the stock is currently owned by company insiders.
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 iced coffee.
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