BRF (NYSE:BRFS) Stock Price Down 5.9% - Here's What Happened

Shares of Brf S.A. (NYSE:BRFS - Get Free Report) dropped 5.9% during mid-day trading on Monday . The company traded as low as $3.69 and last traded at $3.69. Approximately 954,725 shares changed hands during trading, a decline of 60% from the average daily volume of 2,382,122 shares. The stock had previously closed at $3.92.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BRFS. StockNews.com upgraded BRF from a "buy" rating to a "strong-buy" rating in a report on Thursday, April 24th. Citigroup upgraded shares of BRF from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 22nd.

BRF Stock Performance

The business has a 50 day moving average of $3.44 and a 200-day moving average of $3.85. 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 company has a market capitalization of $4.03 billion, a P/E ratio of 8.66, a price-to-earnings-growth ratio of 0.19 and a beta of 1.44.

BRF (NYSE:BRFS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.11). BRF had a return on equity of 19.66% and a net margin of 6.52%. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.72 billion. On average, sell-side analysts predict that Brf S.A. will post 0.45 EPS for the current fiscal year.

Hedge Funds Weigh In On BRF

Several institutional investors and hedge funds have recently bought and sold shares of BRFS. Renaissance Technologies LLC grew its holdings in BRF by 16.6% in the 4th quarter. Renaissance Technologies LLC now owns 7,682,476 shares of the company's stock worth $31,268,000 after acquiring an additional 1,096,016 shares during the last quarter. Marshall Wace LLP grew its stake in shares of BRF by 16.0% in the fourth quarter. Marshall Wace LLP now owns 4,975,651 shares of the company's stock worth $20,251,000 after purchasing an additional 687,243 shares during the last quarter. Millennium Management LLC increased its holdings in BRF by 81.3% during the 4th quarter. Millennium Management LLC now owns 4,454,095 shares of the company's stock valued at $18,128,000 after purchasing an additional 1,996,890 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in BRF during the 4th quarter valued at approximately $9,258,000. Finally, Two Sigma Investments LP lifted its holdings in BRF by 4.3% in the 4th quarter. Two Sigma Investments LP now owns 2,217,514 shares of the company's stock worth $9,025,000 after buying an additional 91,268 shares during the period. 4.76% of the stock is currently 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.

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