Freedom Investment Management Inc. Sells 39,539 Shares of Brf S.A. (NYSE:BRFS)

Freedom Investment Management Inc. reduced its holdings in Brf S.A. (NYSE:BRFS) by 22.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 135,144 shares of the company’s stock after selling 39,539 shares during the quarter. Freedom Investment Management Inc.’s holdings in BRF were worth $591,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Bayesian Capital Management LP acquired a new stake in shares of BRF during the 1st quarter worth approximately $48,000. Atomi Financial Group Inc. acquired a new stake in BRF in the second quarter worth $48,000. Blue Trust Inc. acquired a new stake in BRF in the second quarter worth $51,000. SPX Gestao de Recursos Ltda bought a new stake in BRF in the second quarter valued at $58,000. Finally, US Bancorp DE raised its holdings in shares of BRF by 127.1% during the third quarter. US Bancorp DE now owns 15,871 shares of the company’s stock valued at $69,000 after purchasing an additional 8,882 shares during the period. 4.76% of the stock is owned by institutional investors and hedge funds.

BRF Price Performance

Shares of NYSE BRFS opened at $4.13 on Friday. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 9.60, a PEG ratio of 0.22 and a beta of 1.93. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.93 and a current ratio of 1.45. Brf S.A. has a fifty-two week low of $2.45 and a fifty-two week high of $4.76. The firm’s 50-day simple moving average is $4.33 and its 200 day simple moving average is $4.12.

BRF Increases Dividend

The company also recently announced a — dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 27th will be paid a $0.1001 dividend. This is a positive change from BRF’s previous — dividend of $0.03. The ex-dividend date is Wednesday, November 27th. This represents a dividend yield of 1.8%. BRF’s dividend payout ratio is presently 16.28%.

Analysts Set New Price Targets

BRFS has been the subject of a number of research analyst reports. Bank of America boosted their target price on 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 BRF from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 20th. Finally, Barclays increased their target price on BRF from $4.50 to $5.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, BRF has an average rating of “Moderate Buy” and an average target price 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.