BNP Paribas Financial Markets Cuts Position in Brf S.A. (NYSE:BRFS)

BNP Paribas Financial Markets reduced its stake in shares of Brf S.A. (NYSE:BRFS) by 42.1% in the third quarter, HoldingsChannel reports. The firm owned 58,700 shares of the company’s stock after selling 42,612 shares during the period. BNP Paribas Financial Markets’ holdings in BRF were worth $257,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in BRFS. Quantbot Technologies LP raised its holdings in BRF by 345.9% in the third quarter. Quantbot Technologies LP now owns 107,749 shares of the company’s stock worth $471,000 after purchasing an additional 83,584 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its stake in shares of BRF by 99.6% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 106,276 shares of the company’s stock worth $464,000 after acquiring an additional 53,039 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in BRF by 660.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,208,375 shares of the company’s stock valued at $5,281,000 after acquiring an additional 1,049,373 shares during the last quarter. Natixis Advisors LLC boosted its stake in BRF by 97.9% in the third quarter. Natixis Advisors LLC now owns 241,221 shares of the company’s stock valued at $1,054,000 after acquiring an additional 119,346 shares in the last quarter. Finally, Assetmark Inc. purchased a new position in BRF in the third quarter worth $78,000. 4.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

BRF Stock Performance

Shares of BRF stock opened at $4.64 on Tuesday. The company has a 50 day moving average price of $4.36 and a 200 day moving average price of $4.19. The firm has a market capitalization of $5.02 billion, a P/E ratio of 10.78, a PEG ratio of 0.25 and a beta of 1.89. 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 S.A. has a 52 week low of $2.45 and a 52 week high of $4.87.

BRF Cuts Dividend

The business also recently disclosed a — dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th will be issued a dividend of $0.0217 per share. 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 16.28%.

BRF Company 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.