Farmer Bros Co (FARM) Sees Large Growth in Short Interest

Farmer Bros Co (NASDAQ:FARM) saw a significant increase in short interest in the month of March. As of March 29th, there was short interest totalling 773,048 shares, an increase of 38.6% from the March 15th total of 557,767 shares. Based on an average daily trading volume, of 90,929 shares, the days-to-cover ratio is currently 8.5 days. Currently, 7.1% of the company’s shares are short sold.

A number of research firms have recently issued reports on FARM. ValuEngine lowered shares of Farmer Bros from a “hold” rating to a “sell” rating in a research report on Tuesday, March 26th. Zacks Investment Research upgraded Farmer Bros from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 16th. Finally, BidaskClub downgraded Farmer Bros from a “hold” rating to a “sell” rating in a report on Monday, February 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $33.75.

Shares of Farmer Bros stock traded up $0.27 during midday trading on Friday, hitting $20.10. The company had a trading volume of 68,796 shares, compared to its average volume of 124,019. The company has a market cap of $341.76 million, a price-to-earnings ratio of 154.62 and a beta of 0.15. The company has a current ratio of 2.00, a quick ratio of 0.93 and a debt-to-equity ratio of 0.60. Farmer Bros has a 1-year low of $19.17 and a 1-year high of $31.50.

Farmer Bros (NASDAQ:FARM) last announced its quarterly earnings data on Monday, February 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.14). The company had revenue of $159.77 million during the quarter, compared to analyst estimates of $162.79 million. Farmer Bros had a negative return on equity of 2.67% and a negative net margin of 2.74%. As a group, research analysts forecast that Farmer Bros will post -0.11 earnings per share for the current fiscal year.

In other news, major shareholder Levin Easterly Partners Llc bought 97,879 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was bought 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 Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders acquired 571,592 shares of company stock valued at $11,334,446. Corporate insiders own 10.90% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. California Public Employees Retirement System boosted its stake in Farmer Bros by 13.5% during the first quarter. California Public Employees Retirement System now owns 17,477 shares of the company’s stock worth $350,000 after buying an additional 2,077 shares in the last quarter. Teton Advisors Inc. boosted its stake in Farmer Bros by 10.0% during the first quarter. Teton Advisors Inc. now owns 292,034 shares of the company’s stock worth $5,844,000 after buying an additional 26,480 shares in the last quarter. Gamco Investors INC. ET AL boosted its stake in Farmer Bros by 16.9% during the first quarter. Gamco Investors INC. ET AL now owns 103,700 shares of the company’s stock worth $2,075,000 after buying an additional 15,000 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Farmer Bros by 415.4% during the first quarter. BNP Paribas Arbitrage SA now owns 2,103 shares of the company’s stock worth $42,000 after buying an additional 1,695 shares in the last quarter. Finally, Hodges Capital Management Inc. acquired a new stake in Farmer Bros during the first quarter worth $250,000. Hedge funds and other institutional investors own 60.36% of the company’s stock.

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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 cold brew and iced coffee.

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