Renaissance Technologies LLC Grows Holdings in Brf S.A. (NYSE:BRFS)

Renaissance Technologies LLC grew its position in shares of Brf S.A. (NYSE:BRFS) by 56.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,692,814 shares of the company’s stock after purchasing an additional 2,056,054 shares during the period. Renaissance Technologies LLC owned 0.53% of BRF worth $23,170,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Personalized Indexing Management LLC acquired a new stake in BRF during the fourth quarter worth approximately $41,000. Bayesian Capital Management LP acquired a new stake in shares of BRF during the first quarter worth $48,000. Atomi Financial Group Inc. purchased a new stake in shares of BRF in the second quarter valued at $48,000. Blue Trust Inc. acquired a new position in BRF in the second quarter valued at $51,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in BRF during the fourth quarter worth about $53,000. 4.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on BRFS. Bank of America lifted their price target on BRF from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. StockNews.com raised shares of BRF from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 21st. Finally, Barclays lifted their price target on shares of BRF from $4.50 to $5.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.70.

BRF Stock Performance

NYSE BRFS opened at $4.56 on Friday. The business’s 50-day simple moving average is $4.22 and its 200-day simple moving average is $3.77. The firm has a market capitalization of $4.94 billion, a P/E ratio of 91.20, a P/E/G ratio of 0.28 and a beta of 1.94. Brf S.A. has a 1-year low of $1.83 and a 1-year high of $4.76. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.45 and a quick ratio of 0.99.

BRF (NYSE:BRFS) last announced its quarterly earnings results on Thursday, August 15th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. BRF had a net margin of 3.61% and a return on equity of 11.51%. The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same period in the previous year, the company posted ($0.10) earnings per share. Equities analysts predict that Brf S.A. will post 0.43 EPS for the current year.

BRF 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.