FARM Farmer Brothers Co
Founded in 1912, Farmer Bros. Co. is a national coffee roaster, wholesaler and distributor of coffee, tea and culinary products. The Company’s product lines include organic, Direct Trade and sustainably-produced coffee. With a robust line of coffee, hot and iced teas, cappuccino mixes, spices, and baking/biscuit mixes, the Company delivers extensive beverage planning services and culinary products to its U.S. based customers. The Company serves a wide variety of customers, from small independent restaurants and foodservice operators to large institutional buyers like restaurant and convenience store chains, hotels, casinos, healthcare facilities, and gourmet coffee houses, as well as grocery chains with private brand coffee and consumer branded coffee and tea products, and foodservice distributors.
Company profile
Ticker
FARM
Exchange
Website
CEO
Christopher P. Mottern
Employees
Incorporated in
Location
Fiscal year end
Industry (SEC)
SEC CIK
Corporate docs
IRS number
950725980
FARM stock data
()
Calendar
8 May 20
14 Jul 20
30 Jun 21
News
Company financial data Financial data
| Quarter (USD) | Mar 20 | Dec 19 | Sep 19 | Jun 19 | |
|---|---|---|---|---|---|
| Revenue | 129.14M | 152.5M | 138.6M | 142.05M | |
| Net income | -39.78M | 7.75M | 4.65M | -8.76M | |
| Diluted EPS | -2.32 | 0.43 | 0.26 | -0.52 | |
| Net profit margin | -30.80% | 5.08% | 3.36% | -6.17% | |
| Operating income | -45.17M | 8.87M | 6.89M | -7.02M | |
| Net change in cash | 17.26M | 1.71M | 442K | -5.21M | |
| Cash on hand | 26.39M | 9.13M | 7.43M | 6.98M | |
| Cost of revenue | 91.19M | 108.51M | 97.96M | 104.33M |
| Annual (USD) | Jun 19 | Jun 18 | Jun 17 | Jun 16 | |
|---|---|---|---|---|---|
| Revenue | 595.94M | 606.54M | 541.5M | 544.38M | |
| Net income | -73.6M | -18.28M | 22.55M | 71.79M | |
| Diluted EPS | -4.36 | -1.11 | 1.34 | 4.32 | |
| Net profit margin | -12.35% | -3.01% | 4.16% | 13.19% | |
| Operating income | -14.7M | 1.05M | 38.93M | -2.19M | |
| Net change in cash | 4.55M | -3.8M | -14.85M | 5.94M | |
| Cash on hand | 6.98M | 2.44M | 6.24M | 21.1M | |
| Cost of revenue | 416.84M | 399.16M | 354.65M | 373.21M |
Financial data from company earnings reports
Recent insider trades
| Date | Owner | Security | Transaction | Code | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|
| 1 Jul 20 | Maurice S.J. Moragne | Common Stock | Grant | Aquire A | No | 0 | 10,373 | 0 | 10,373 |
| 1 Jul 20 | Maurice S.J. Moragne | Stock Option Common Stock | Grant | Aquire A | No | 7.23 | 29,761 | 215.17K | 29,761 |
| 1 Apr 20 | Scott Ray Drake | Stock Option Common Stock | Grant | Aquire A | No | 6.72 | 88,495 | 594.69K | 88,495 |
Institutional ownership Q1 2020
82.2% owned by funds/institutions
13F holders |
Current |
|---|---|
| Total holders | 89 |
| Opened positions | 14 |
| Closed positions | 7 |
| Increased positions | 24 |
| Reduced positions | 34 |
13F shares |
Current |
|---|---|
| Total value | 203.23M |
| Total shares | 14.09M |
| Total puts | 0 |
| Total calls | 0 |
| Total put/call ratio | – |
Largest owners |
Shares | Value |
|---|---|---|
| Russell Investments | 2.67M | $18.6M |
| Trigran Investments | 2.24M | $15.57M |
| Levin Easterly Partners | 1.28M | $8.91M |
| Dimensional Fund Advisors | 944.68K | $6.58M |
| Adage Capital Partners GP, L.L.C. | 869.7K | $6.05M |
| Vanguard | 868.64K | $6.05M |
| BLK BlackRock | 784.95K | $5.46M |
| Renaissance Technologies | 532.4K | $3.71M |
| Punch & Associates Investment Management | 479.8K | $3.34M |
| TETAB Teton Advisors | 372.02K | $2.59M |
Financial report summary
?Competition
Sysco • Costco • Starbucks • Primo Water • Medifast • LLC • Club • Cott • Cott • Cotinga PharmaceuticalsRisks
- Our liquidity has been adversely affected as a result of our operating performance in recent periods, as well as the COVID-19 pandemic, and may be further materially adversely affected by constraints in the capital and credit markets and limitations under our financing arrangements.
- An increase in our debt leverage could adversely affect our liquidity and results of operations.
Management Discussion
- In fiscal 2019, both our DSD and direct ship sales channels experienced sales declines. The DSD sales channel was impacted by higher customer attrition in part related to our route consolidation initiative and the integration process of the Boyd Business. Our direct ship sales channel also experienced headwinds, driven by softness from two large customers throughout the year and the volume production loss of two brands that we previously serviced to its owner, who now has in-house capabilities. We had also anticipated incremental sales volume in fiscal 2019 from a significant direct ship customer that did not materialize. The production qualification requirements for this customer are still ongoing.
Content analysis
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New words:
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Removed:
source
Financial reports
10-Q
2020 Q3
Quarterly report
8 May 20
10-Q
2020 Q2
Quarterly report
7 Feb 20
10-Q
2020 Q1
Quarterly report
8 Nov 19
10-K
2019 FY
Annual report
11 Sep 19
10-Q
2019 Q3
Quarterly report
8 May 19
10-Q
2019 Q2
Quarterly report
11 Feb 19
10-Q
2019 Q1
Quarterly report
9 Nov 18
10-K
2018 FY
Annual report
13 Sep 18
10-Q
2018 Q3
Quarterly report
9 May 18
10-Q
2018 Q2
Quarterly report
7 Feb 18
Current reports
8-K
Farmer Brothers Appoints Maurice Moragne as Chief Sales Officer
10 Jun 20
8-K
Farmer Bros. Co. Reports Third Quarter Fiscal 2020 Financial Results and Provides COVID-19 Update
7 May 20
8-K
Farmer Brothers Draws Down on Revolving Credit Facility to Enhance Financial Flexibility
29 Apr 20
8-K
Continuing to Serve Customers; Pivoting to Deliver for Customers on E-Commerce and Direct Ship
30 Mar 20
8-K
Farmer Brothers Appoints Scott Drake as Chief Financial Officer
16 Mar 20
8-K
Farmer Brothers Amends Credit Agreement to Support Strategic Initiatives
11 Mar 20
8-K
Farmer Bros. Co. Reports Second Quarter Fiscal 2020 Financial Results
6 Feb 20
8-K
Farmer Brothers Board of Directors Appoints New Chairman
23 Jan 20
8-K/A
Submission of Matters to a Vote of Security Holders
18 Dec 19
8-K
Submission of Matters to a Vote of Security Holders
16 Dec 19
Registration and prospectus
S-3/A
Shelf registration (amended)
5 Dec 17
S-3
Shelf registration
3 Nov 17
S-8
Registration of securities for employees
27 Jun 17
424B3
Prospectus supplement
29 Aug 16
S-3
Shelf registration
15 Aug 16
S-8
Registration of securities for employees
28 Sep 15
15-12G
Securities registration termination
24 Sep 15
8-A12B/A
Registration of securities on exchange (amended)
24 Sep 15
8-A12B
Registration of securities on exchange
6 Feb 09
S-8
Registration of securities for employees
6 Feb 09
Proxies
DFAN14A
Additional proxy materials by non-management
9 Dec 19
DFAN14A
Additional proxy materials by non-management
9 Dec 19
DEFA14A
Additional proxy soliciting materials
3 Dec 19
DEFA14A
Additional proxy soliciting materials
2 Dec 19
DFAN14A
Additional proxy materials by non-management
27 Nov 19
DFAN14A
Additional proxy materials by non-management
26 Nov 19
DEFA14A
Additional proxy soliciting materials
25 Nov 19
DEFA14A
Additional proxy soliciting materials
22 Nov 19
DFAN14A
Additional proxy materials by non-management
18 Nov 19
DFAN14A
Additional proxy materials by non-management
14 Nov 19
Other
EFFECT
Notice of effectiveness
18 Dec 17
CORRESP
Correspondence with SEC
13 Dec 17
CORRESP
Correspondence with SEC
5 Dec 17
CORRESP
Correspondence with SEC
5 Dec 17
UPLOAD
Letter from SEC
21 Nov 17
UPLOAD
Letter from SEC
1 Nov 16
UPLOAD
Letter from SEC
27 Oct 16
EFFECT
Notice of effectiveness
26 Aug 16
CORRESP
Correspondence with SEC
25 Aug 16
UPLOAD
Letter from SEC
19 Aug 16
Ownership
4
FARMER BROTHERS / MAURICE S.J. MORAGNE ownership change
6 Jul 20
3
FARMER BROTHERS / MAURICE S.J. MORAGNE ownership change
10 Jun 20
SC 13D/A
FARMER BROTHERS / LEVIN EASTERLY PARTNERS ownership change
3 Jun 20
SC 13G
FARMER BROTHERS / Trigran Investments ownership change
1 Jun 20
SC 13D/A
FARMER BROTHERS / LEVIN EASTERLY PARTNERS ownership change
29 Apr 20
3
FARMER BROTHERS / Steven R Monieson ownership change
9 Apr 20
4
FARMER BROTHERS / Scott Ray Drake ownership change
2 Apr 20
SC 13D
FARMER BROTHERS / Trigran Investments ownership change
1 Apr 20
3
FARMER BROTHERS / Scott Ray Drake ownership change
27 Mar 20
4
FARMER BROTHERS / Congdon Stacy Loretz ownership change
19 Mar 20