BRF (NYSE:BRFS) Stock Price Down 4.2% – Here’s What Happened

Brf S.A. (NYSE:BRFS)’s share price dropped 4.2% during trading on Monday . The company traded as low as $3.04 and last traded at $3.05. Approximately 193,560 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 2,531,620 shares. The stock had previously closed at $3.18.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. StockNews.com upgraded shares of BRF from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 7th. Citigroup upgraded shares of BRF from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $10.70.

BRF Trading Down 1.4 %

The company has a market cap of $3.39 billion, a price-to-earnings ratio of 7.29, a PEG ratio of 0.19 and a beta of 1.90. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.45 and a quick ratio of 0.93. The business’s 50-day simple moving average is $3.54 and its 200-day simple moving average is $4.07.

BRF (NYSE:BRFS) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.11). BRF had a net margin of 6.52% and a return on equity of 19.66%. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $2.72 billion. Research analysts predict that Brf S.A. will post 0.45 earnings per share for the current fiscal year.

Institutional Trading of BRF

A number of hedge funds have recently bought and sold shares of BRFS. Arrowstreet Capital Limited Partnership purchased a new position in BRF during the fourth quarter worth about $9,258,000. Millennium Management LLC increased its stake in shares of BRF by 81.3% during the 4th quarter. Millennium Management LLC now owns 4,454,095 shares of the company’s stock valued at $18,128,000 after acquiring an additional 1,996,890 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of BRF by 16.6% during the 4th quarter. Renaissance Technologies LLC now owns 7,682,476 shares of the company’s stock worth $31,268,000 after acquiring an additional 1,096,016 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of BRF by 660.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,208,375 shares of the company’s stock worth $5,281,000 after acquiring an additional 1,049,373 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in BRF by 16.0% in the fourth quarter. Marshall Wace LLP now owns 4,975,651 shares of the company’s stock valued at $20,251,000 after purchasing an additional 687,243 shares during the period. Institutional investors and hedge funds own 4.76% of the company’s stock.

About BRF

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.