Brf S.A. (NYSE:BRFS) Sees Large Decline in Short Interest

Brf S.A. (NYSE:BRFS) saw a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 4,140,000 shares, a decrease of 5.0% from the October 31st total of 4,360,000 shares. Based on an average trading volume of 2,440,000 shares, the days-to-cover ratio is presently 1.7 days.

BRF Stock Performance

Shares of BRFS opened at $4.62 on Thursday. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 1.05. The business has a 50-day simple moving average of $4.31 and a two-hundred day simple moving average of $4.14. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 0.22 and a beta of 1.90. BRF has a 52 week low of $2.45 and a 52 week high of $4.76.

BRF Increases Dividend

The business also recently declared a — dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 27th will be given a $0.1001 dividend. This is a boost from BRF’s previous — dividend of $0.03. The ex-dividend date is Wednesday, November 27th. This represents a yield of 1.8%. BRF’s dividend payout ratio is presently 18.60%.

Analysts Set New Price Targets

A number of analysts recently commented on BRFS shares. Barclays upped their price objective on BRF from $4.50 to $5.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. StockNews.com upgraded BRF from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 20th. Finally, 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 report on Thursday, August 15th. 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $10.70.

Institutional Trading of BRF

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP grew its position in shares of BRF by 534.6% during the second quarter. Marshall Wace LLP now owns 4,623,075 shares of the company’s stock worth $18,816,000 after purchasing an additional 3,894,533 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of BRF by 56.5% during the second 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of 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 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 shares of BRF during the second quarter worth about $1,133,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of BRF during the second quarter worth about $927,000. Hedge funds and other institutional investors own 4.76% of the company’s stock.

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.