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

Shares of Brf S.A. (NYSE:BRFS) gapped down before the market opened on Monday . The stock had previously closed at $4.31, but opened at $4.16. BRF shares last traded at $4.15, with a volume of 238,158 shares traded.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BRFS. Bank of America boosted their target price on shares of BRF from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Barclays upped their price objective on shares of BRF from $4.50 to $5.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Finally, StockNews.com raised BRF from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Two equities 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $10.70.

BRF Price Performance

The company has a 50-day moving average of $4.36 and a 200 day moving average of $4.09. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.93 and a current ratio of 1.45. The firm has a market cap of $4.56 billion, a P/E ratio of 9.80, a P/E/G ratio of 0.25 and a beta of 1.93.

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 represents a dividend yield of 1.8%. The ex-dividend date is Wednesday, November 27th. This is an increase from BRF’s previous — dividend of $0.03. BRF’s payout ratio is currently 38.37%.

Hedge Funds Weigh In On BRF

Several institutional investors have recently added to or reduced their stakes in the company. TD Private Client Wealth LLC acquired a new stake in shares of BRF in the third quarter valued at $27,000. Public Employees Retirement System of Ohio acquired a new stake in shares of BRF in the third quarter valued at approximately $826,000. XTX Topco Ltd lifted its holdings in BRF by 142.6% during the 3rd quarter. XTX Topco Ltd now owns 113,266 shares of the company’s stock worth $495,000 after buying an additional 66,583 shares in the last quarter. State Street Corp boosted its position in BRF by 2.3% in the 3rd quarter. State Street Corp now owns 1,006,059 shares of the company’s stock valued at $4,396,000 after buying an additional 22,608 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new stake in shares of BRF in the 3rd quarter valued at $186,000. 4.76% of the stock is owned by institutional investors.

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.