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FARM

Farmer Bros.

$35.30

-0.35 (-0.98%)

07:41
11/30/16
11/30
07:41
11/30/16
07:41

Farmer Bros. founding family member issues letter to employees

Farmer Bros. announced that Richard Farmer, a member of the founding Farmer family, provided the company with a letter he sent to Farmer Bros. employees in support of the company's Board of Directors. The letter states among other things, "You may have heard or read about the recent activities of Carol Farmer Waite and the group she has formed to oppose Farmer Bros. Co.'s nominees for reelection to the Board of Directors at the Company's upcoming 2016 Annual Meeting of Stockholders (...) This group does not represent all members of the Farmer family, nor does this group represent the views of most of the trusts for which Carol claims to speak. As a member of the Farmer family, as well as a longtime Farmer Bros. stockholder and co-trustee of numerous Farmer family trusts, I fully support the Company's Board of Directors and management team (...) "I also recognize and appreciate the significant improvements to the business that the current leadership team has already made" (...) "The future of Farmer Bros. and the value of your ESOP shares depend on the management team's continued execution of the Company's proven turnaround plan under the leadership of a Board that I believe is highly engaged and independent".

  • 08

    Dec

FARM Farmer Bros.
$35.30

-0.35 (-0.98%)

08/01/16
ROTH
08/01/16
NO CHANGE
Target $40
ROTH
Buy
Farmer Bros. price target to $40 from $35 at Roth Capital
After meeting with the company's CEO Mike Keown and CFO Isaac Johnston, Roth Capital analyst Anton Brenner raised his price target for Farmer Bros. to $40 from $35 saying he looks for rapid earnings and cash flow growth over the next several years. Moreover, Brenner believes the company should sustain mid-to-high single-digit annual coffee volume growth, even before assuming new chain account additions. He reiterates a Buy rating on the shares.
04/08/16
SIDC
04/08/16
INITIATION
Target $54
SIDC
Buy
Farmer Bros. initiated with a Buy at Sidoti
Target $54.

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