Farmer Bros Co (NASDAQ:FARM) Short Interest Update

Farmer Bros Co (NASDAQ:FARM) saw a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 1,120,000 shares, a drop of 8.2% from the September 30th total of 1,220,000 shares. Based on an average daily volume of 129,200 shares, the days-to-cover ratio is presently 8.7 days. Currently, 7.6% of the company’s shares are short sold.

A number of research firms have recently commented on FARM. B. Riley cut their price objective on Farmer Bros from $21.00 to $10.50 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Roth Capital dropped their target price on Farmer Bros from $20.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. BidaskClub downgraded Farmer Bros from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 7th. ValuEngine downgraded Farmer Bros from a “strong-buy” rating to a “buy” rating in a report on Friday. Finally, Lake Street Capital dropped their target price on Farmer Bros from $26.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Farmer Bros currently has an average rating of “Hold” and a consensus target price of $13.63.

Shares of NASDAQ:FARM traded down $0.15 during mid-day trading on Friday, hitting $14.92. 81,700 shares of the company traded hands, compared to its average volume of 97,886. The firm’s 50 day simple moving average is $13.85 and its 200 day simple moving average is $15.66. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 1.63. The firm has a market cap of $258.47 million, a P/E ratio of -13.81 and a beta of 0.22. Farmer Bros has a 52-week low of $10.26 and a 52-week high of $26.25.

Farmer Bros (NASDAQ:FARM) last posted its quarterly earnings data on Tuesday, September 10th. The company reported ($0.52) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.37). The firm had revenue of $142.05 million during the quarter, compared to the consensus estimate of $146.90 million. Farmer Bros had a negative return on equity of 11.65% and a negative net margin of 11.23%. Equities research analysts expect that Farmer Bros will post -0.45 EPS for the current fiscal year.

In other news, Director Randy E. Clark acquired 3,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were bought at an average cost of $14.11 per share, for a total transaction of $42,330.00. Following the acquisition, the director now directly owns 21,928 shares in the company, valued at approximately $309,404.08. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its position in shares of Farmer Bros by 5.8% during the third quarter. Russell Investments Group Ltd. now owns 2,933,187 shares of the company’s stock worth $37,984,000 after purchasing an additional 159,990 shares during the period. Trigran Investments Inc. grew its holdings in shares of Farmer Bros by 12.8% during the second quarter. Trigran Investments Inc. now owns 1,972,319 shares of the company’s stock valued at $32,286,000 after buying an additional 223,041 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Farmer Bros by 10.4% during the second quarter. BlackRock Inc. now owns 771,123 shares of the company’s stock valued at $12,623,000 after buying an additional 72,842 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Farmer Bros by 13.9% during the second quarter. Renaissance Technologies LLC now owns 469,400 shares of the company’s stock valued at $7,684,000 after buying an additional 57,200 shares in the last quarter. Finally, Boston Partners purchased a new position in shares of Farmer Bros during the second quarter valued at $6,641,000. 83.73% of the stock is currently owned by institutional investors.

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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