BRF (NYSE:BRFS) Shares Gap Up – Here’s What Happened

Shares of Brf S.A. (NYSE:BRFS) gapped up prior to trading on Tuesday . The stock had previously closed at $4.13, but opened at $4.24. BRF shares last traded at $4.27, with a volume of 187,996 shares.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BRFS shares. Bank of America boosted their price target on shares of BRF from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. StockNews.com lowered shares of BRF from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Barclays raised their price target on shares of BRF from $4.50 to $5.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.70.

BRF Trading Up 2.9 %

The company’s fifty day moving average price is $4.36 and its two-hundred day moving average price is $4.08. The company has a market cap of $4.60 billion, a price-to-earnings ratio of 10.00, a price-to-earnings-growth ratio of 0.25 and a beta of 1.93. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 1.05.

BRF Increases Dividend

The firm 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. The ex-dividend date is Wednesday, November 27th. This is a positive change from BRF’s previous — dividend of $0.03. This represents a dividend yield of 1.8%. BRF’s dividend payout ratio (DPR) is 38.37%.

Institutional Investors Weigh In On BRF

A number of hedge funds have recently added to or reduced their stakes in BRFS. Marshall Wace LLP raised its stake in shares of BRF by 534.6% in the second quarter. Marshall Wace LLP now owns 4,623,075 shares of the company’s stock worth $18,816,000 after acquiring an additional 3,894,533 shares during the last quarter. Renaissance Technologies LLC raised its position in BRF by 56.5% in the 2nd quarter. Renaissance Technologies LLC now owns 5,692,814 shares of the company’s stock worth $23,170,000 after purchasing an additional 2,056,054 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in BRF by 660.0% during the 3rd 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 bought a new position in BRF in the 2nd quarter valued at $1,133,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of BRF in the 2nd quarter valued at $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.