BRF (NYSE:BRFS) Shares Gap Down – Here’s Why

Brf S.A. (NYSE:BRFS) shares gapped down before the market opened on Monday . The stock had previously closed at $4.35, but opened at $4.24. BRF shares last traded at $4.19, with a volume of 220,143 shares.

Wall Street Analyst Weigh In

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 research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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’s fifty day moving average is $4.38 and its 200-day moving average is $4.22. The stock has a market cap of $4.55 billion, a PE ratio of 9.77, a price-to-earnings-growth 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. Stockholders of record on Wednesday, December 18th will be paid a $0.0217 dividend. This represents a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, December 18th. BRF’s dividend payout ratio (DPR) is presently 18.60%.

Hedge Funds Weigh In On BRF

Several large investors have recently made changes to their positions in BRFS. Atomi Financial Group Inc. acquired a new position in BRF during the second quarter worth $48,000. Commonwealth Equity Services LLC purchased a new stake in BRF during the second quarter worth about $377,000. Natixis Advisors LLC purchased a new position in shares of BRF in the second quarter valued at approximately $496,000. Acadian Asset Management LLC purchased a new stake in BRF during the 2nd quarter worth approximately $1,133,000. Finally, Ballentine Partners LLC acquired a new stake in BRF during the 2nd quarter worth approximately $77,000. 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.