BRF (NYSE:BRFS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
According to Zacks, “BRF Brasil Foods SA, formerly Perdigao S.A., is a Brazil-based food company focused on the production and sale of poultry, pork, beef cuts, milk, dairy products, and processed food products. The Company’s products include frozen whole and cut chickens; frozen pork cuts and beef cuts; processed food products, such as marinated frozen whole and cut chickens, roosters (sold under the Chester brand) and turkeys; specialty meats, such as sausages, ham products, bologna, frankfurters, salamis, bacon and other smoked products; frozen processed meats, such as hamburgers, steaks, breaded meat products, kibes and meatballs, and frozen processed vegetarian foods; frozen prepared entrees, such as lasagnas and pizzas, as well as other frozen foods, including vegetables, cheese bread and pies; dairy products, such as cheeses, powdered milk and yogurts; juices, soy milk and soy juices; margarine; milk, and soy meal and refined soy flour, as well as animal feed. “
A number of other analysts have also recently issued reports on BRFS. J P Morgan Chase & Co raised BRF from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $13.00 to $16.00 in a report on Thursday, September 14th. BidaskClub raised BRF from a “hold” rating to a “buy” rating in a report on Saturday, September 23rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $15.00.
A number of hedge funds and other institutional investors have recently made changes to their positions in BRFS. BT Investment Management Ltd bought a new position in BRF in the 2nd quarter worth about $22,740,000. INCA Investments LLC increased its stake in BRF by 50.3% in the 3rd quarter. INCA Investments LLC now owns 3,430,500 shares of the company’s stock worth $49,434,000 after acquiring an additional 1,147,881 shares during the last quarter. Macquarie Group Ltd. increased its stake in BRF by 24.8% in the 3rd quarter. Macquarie Group Ltd. now owns 5,084,388 shares of the company’s stock worth $73,266,000 after acquiring an additional 1,010,837 shares during the last quarter. Fiera Capital Corp bought a new position in BRF in the 2nd quarter worth about $10,244,000. Finally, Grosvenor Capital Management L.P. increased its stake in BRF by 83.5% in the 2nd quarter. Grosvenor Capital Management L.P. now owns 1,573,202 shares of the company’s stock worth $18,548,000 after acquiring an additional 715,902 shares during the last quarter. Institutional investors and hedge funds own 7.74% of the company’s stock.
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BRF SA is a multinational Brazilian company that owns a diverse portfolio of products and is a producer of foods. The Company’s segments include Brazil, Latin America (LATAM), Europe, Middle East and North of Africa (MENA), Asia, Africa and Other Segments. These segments include sales of all distribution channels and operations subdivided in to poultry, pork and other, processed, and other sales.
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