BRF (NYSE:BRFS) Trading 2.7% Higher – Here’s Why

Brf S.A. (NYSE:BRFS)’s share price traded up 2.7% during trading on Monday . The stock traded as high as $4.18 and last traded at $4.16. 431,590 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 2,867,531 shares. The stock had previously closed at $4.05.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of BRF from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, BRF currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.70.

BRF Price Performance

The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of 9.47, a PEG ratio of 0.25 and a beta of 1.89. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 1.05. The company’s 50 day simple moving average is $4.37 and its 200-day simple moving average is $4.25.

BRF Cuts Dividend

The firm also recently disclosed a — dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th will be issued a dividend of $0.0217 per share. This represents a dividend yield of 1.6%. The ex-dividend date is Wednesday, December 18th. BRF’s dividend payout ratio (DPR) is 18.60%.

Hedge Funds Weigh In On BRF

Several large investors have recently added to or reduced their stakes in the business. Marshall Wace LLP increased its stake 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 acquiring an additional 3,894,533 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of BRF by 56.5% during the 2nd quarter. Renaissance Technologies LLC now owns 5,692,814 shares of the company’s stock valued at $23,170,000 after buying an additional 2,056,054 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of BRF by 660.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,208,375 shares of the company’s stock worth $5,281,000 after buying an additional 1,049,373 shares during the period. Acadian Asset Management LLC acquired a new position in BRF in the second quarter valued at $1,133,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in BRF during the second quarter valued at about $927,000. 4.76% of the stock is currently owned by hedge funds and other institutional investors.

BRF Company 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.