Gabelli Has Hold on Peets Coffee & Tea

Gabelli & Co. is out with a research report on Peets Coffee & Tea Inc (NASDAQ: PEET) and it has a Hold rating on shares.

In a note to clients, Gabelli & Co. writes, "Reported third quarter results that were largely in-line with our expectations and management's guidance. Grocery growth was very strong +38% to $25 mm, driven mainly by organic growth in existing markets, the effect of earlier pricing actions, and early success of Peet's new medium roast lines."

Shares of PEET closed at $61.43 yesterday.