BRF (NYSE:BRFS) Shares Gap Down – What’s Next?

Shares of Brf S.A. (NYSE:BRFS) gapped down before the market opened on Tuesday . The stock had previously closed at $4.36, but opened at $4.23. BRF shares last traded at $4.27, with a volume of 216,775 shares traded.

Analysts Set New Price Targets

BRFS has been the topic of several research reports. Bank of America upped their price objective on BRF from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Barclays raised their price objective on BRF from $4.50 to $5.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Finally, StockNews.com upgraded shares of BRF from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 20th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, BRF has a consensus rating of “Moderate Buy” and an average price target of $10.70.

BRF Price Performance

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 stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of 10.14, a price-to-earnings-growth ratio of 0.23 and a beta of 1.93. The company has a 50-day simple moving average of $4.35 and a two-hundred day simple moving average of $4.11.

BRF Increases Dividend

The company also recently disclosed a — dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 27th will be given a $0.1001 dividend. The ex-dividend date is Wednesday, November 27th. This is an increase from BRF’s previous — dividend of $0.03. This represents a yield of 1.8%.

Hedge Funds Weigh In On BRF

Hedge funds and other institutional investors have recently made changes to their positions in the business. Marshall Wace LLP raised 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 worth $18,816,000 after buying an additional 3,894,533 shares in the last quarter. Renaissance Technologies LLC raised its position in 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 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 purchasing an additional 1,049,373 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in BRF in the 2nd quarter worth approximately $1,133,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of BRF in the second quarter worth $927,000. 4.76% of the stock is currently owned by institutional investors and hedge funds.

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.