BRF (NYSE:BRFS) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday.
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. “
BRFS has been the topic of a number of other research reports. UBS Group downgraded BRF from a “buy” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. downgraded BRF from an “overweight” rating to a “neutral” rating in a report on Friday. Finally, TheStreet downgraded BRF from a “c-” rating to a “d+” rating in a report on Thursday, February 8th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. BRF currently has an average rating of “Hold” and an average price target of $15.00.
Several institutional investors and hedge funds have recently modified their holdings of BRFS. Macquarie Group Ltd. increased its holdings in BRF by 51.2% in the fourth quarter. Macquarie Group Ltd. now owns 7,686,743 shares of the company’s stock worth $86,549,000 after buying an additional 2,602,355 shares during the last quarter. Millennium Management LLC increased its holdings in BRF by 346.1% in the fourth quarter. Millennium Management LLC now owns 383,133 shares of the company’s stock worth $4,314,000 after buying an additional 297,246 shares during the last quarter. Ellington Management Group LLC acquired a new position in BRF in the fourth quarter worth approximately $114,000. Guggenheim Capital LLC increased its holdings in BRF by 60.0% in the fourth quarter. Guggenheim Capital LLC now owns 286,079 shares of the company’s stock worth $3,222,000 after buying an additional 107,293 shares during the last quarter. Finally, Oaktree Capital Management LP increased its holdings in BRF by 29.9% in the fourth quarter. Oaktree Capital Management LP now owns 3,977,774 shares of the company’s stock worth $44,790,000 after buying an additional 914,776 shares during the last quarter. Institutional investors own 7.44% 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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