The Manufacturers Life Insurance Company Trims Stock Holdings in Brf S.A. (NYSE:BRFS)

The Manufacturers Life Insurance Company trimmed its holdings in Brf S.A. (NYSE:BRFS) by 5.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 301,572 shares of the company’s stock after selling 17,011 shares during the period. The Manufacturers Life Insurance Company’s holdings in BRF were worth $1,227,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Hsbc Holdings PLC grew its stake in BRF by 886.7% in the 2nd quarter. Hsbc Holdings PLC now owns 230,636 shares of the company’s stock valued at $939,000 after buying an additional 207,262 shares in the last quarter. Marshall Wace LLP grew its position in shares of BRF by 534.6% during the 2nd quarter. Marshall Wace LLP now owns 4,623,075 shares of the company’s stock valued at $18,816,000 after purchasing an additional 3,894,533 shares in the last quarter. Natixis Advisors LLC purchased a new position in shares of BRF during the 2nd quarter valued at $496,000. Acadian Asset Management LLC purchased a new position in shares of BRF during the 2nd quarter valued at $1,133,000. Finally, Ballentine Partners LLC purchased a new position in shares of BRF during the 2nd quarter valued at $77,000. 4.76% of the stock is currently owned by hedge funds and other institutional investors.

BRF Stock Down 2.2 %

Shares of NYSE:BRFS opened at $4.08 on Friday. Brf S.A. has a 52-week low of $1.95 and a 52-week high of $4.76. The firm has a fifty day moving average of $4.38 and a 200 day moving average of $3.89. The firm has a market capitalization of $4.42 billion, a PE ratio of 15.11, a price-to-earnings-growth ratio of 0.23 and a beta of 1.94. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.99 and a current ratio of 1.45.

BRF (NYSE:BRFS) last announced its earnings results on Thursday, August 15th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.04. BRF had a net margin of 3.61% and a return on equity of 11.51%. The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same period in the previous year, the business earned ($0.10) earnings per share. As a group, research analysts anticipate that Brf S.A. will post 0.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BRFS shares. Bank of America boosted their price target on shares of BRF from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. StockNews.com upgraded shares of BRF from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 21st. Finally, Barclays boosted their price target on shares of BRF from $4.50 to $5.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, BRF presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.70.

BRF Profile

BRF SA raises, produces, and slaughters poultry and pork for processing, production, and sale of fresh meat, processed products, pasta, margarine, pet food, and other products. The company provides frozen whole and cut chicken, frozen pork, and turkey, and halal products for Islamic markets; processed foods, such as marinated, frozen, seasoned whole, and cut chicken, roosters, sausages, ham products, bologna, frankfurters, salamis, bacons, cold meats, and other smoked products; and hamburgers, steaks, breaded meat products, kibbeh, and meatballs, as well as chicken sausages, hot dogs, and chicken bologna.