BRF (NYSE:BRFS) Stock Price Down 5.8% – Here’s What Happened

Brf S.A. (NYSE:BRFS) traded down 5.8% during mid-day trading on Wednesday . The stock traded as low as $4.39 and last traded at $4.40. 2,679,701 shares changed hands during trading, a decline of 7% from the average session volume of 2,877,548 shares. The stock had previously closed at $4.67.

Wall Street Analyst Weigh In

Separately, StockNews.com raised BRF from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 20th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, BRF currently has an average rating of “Moderate Buy” and a consensus target price of $10.70.

BRF Trading Down 9.6 %

The firm’s fifty day moving average is $4.37 and its two-hundred day moving average is $4.20. 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 firm has a market capitalization of $4.59 billion, a PE ratio of 9.86, a PEG ratio of 0.25 and a beta of 1.89.

BRF Cuts Dividend

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

Hedge Funds Weigh In On BRF

Several institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP grew its holdings in BRF by 534.6% during the second 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 during the period. Renaissance Technologies LLC increased its position in shares of BRF by 56.5% during the second 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. lifted its holdings 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 buying an additional 1,049,373 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of BRF in the second quarter worth about $1,133,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of BRF in the second quarter valued at approximately $927,000. Institutional investors 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.