BRF (NYSE:BRFS) Shares Down 3.7% - Here's Why

Shares of Brf S.A. (NYSE:BRFS - Get Free Report) fell 3.7% during mid-day trading on Thursday . The company traded as low as $3.67 and last traded at $3.67. 574,149 shares were traded during trading, a decline of 79% from the average session volume of 2,727,356 shares. The stock had previously closed at $3.81.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BRFS. Wall Street Zen downgraded BRF from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Barclays reissued an "equal weight" rating and set a $3.50 target price (down from $5.00) on shares of BRF in a research note on Monday, May 19th.

BRF Stock Up 1.4%

The stock has a market capitalization of $4.03 billion, a PE ratio of 8.65, a P/E/G ratio of 0.19 and a beta of 1.33. The firm has a 50 day moving average of $3.63 and a two-hundred day moving average of $3.71. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 1.05.

BRF (NYSE:BRFS - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.03. BRF had a return on equity of 19.66% and a net margin of 6.52%. The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $15.78 billion. Equities research analysts anticipate that Brf S.A. will post 0.45 earnings per share for the current year.

Hedge Funds Weigh In On BRF

Several hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC increased its stake in BRF by 16.6% in the 4th quarter. Renaissance Technologies LLC now owns 7,682,476 shares of the company's stock valued at $31,268,000 after purchasing an additional 1,096,016 shares in the last quarter. Millennium Management LLC grew its holdings in BRF by 26.5% during the 1st quarter. Millennium Management LLC now owns 5,634,548 shares of the company's stock valued at $19,383,000 after buying an additional 1,180,453 shares during the last quarter. Marshall Wace LLP grew its holdings in BRF by 16.0% during the 4th quarter. Marshall Wace LLP now owns 4,975,651 shares of the company's stock valued at $20,251,000 after buying an additional 687,243 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in BRF during the 4th quarter valued at $9,258,000. Finally, Two Sigma Investments LP grew its holdings in BRF by 4.3% during the 4th quarter. Two Sigma Investments LP now owns 2,217,514 shares of the company's stock valued at $9,025,000 after buying an additional 91,268 shares during the last quarter. 4.76% of the stock is owned by hedge funds and other institutional investors.

About BRF

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.