Brf S.A. (NYSE:BRFS) Plans $0.35 Special Dividend

Key Points

• Brf S.A. has declared a dividend of $0.35 per share, payable on October 9th to shareholders on record by September 22nd, indicating a significant yield of 230.0%.
• BRF reported a net revenue of $2.85 billion for the last quarter but missed analyst estimates, posting an EPS of only $0.08 against a forecast of $0.11.
• Institutional investors have heavily increased their stakes in BRF, with Millennium Management LLC raising its holdings by 26.5% and Arrowstreet Capital boosting theirs by 232.4%.

Brf S.A. (NYSE:BRFS - Get Free Report) declared a special dividend on Tuesday, September 9th, Wall Street Journal reports. Shareholders of record on Monday, September 22nd will be given a dividend of 0.3483 per share on Thursday, October 9th. This represents a dividend yield of 230.0%. The ex-dividend date of this dividend is Monday, September 22nd.

BRF Stock Performance

Shares of BRFS stock traded up $0.07 during midday trading on Monday, reaching $3.95. 1,804,437 shares of the stock were exchanged, compared to its average volume of 2,908,356. BRF has a 1 year low of $2.99 and a 1 year high of $4.87. The company's 50 day moving average is $3.69 and its two-hundred day moving average is $3.59. The company has a quick ratio of 1.05, a current ratio of 1.52 and a debt-to-equity ratio of 1.03.

BRF (NYSE:BRFS - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.11 by ($0.03). BRF had a net margin of 5.84% and a return on equity of 20.20%. The firm had revenue of $2.85 billion for the quarter, compared to analysts' expectations of $15.29 billion. Research analysts expect that BRF will post 0.45 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on BRFS shares. Barclays reiterated an "equal weight" rating and set a $3.50 price target (down previously from $5.00) on shares of BRF in a report on Monday, May 19th. Wall Street Zen cut shares of BRF from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $3.50.

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.