Alliancebernstein L.P. raised its position in shares of BRF S.A. (NYSE:BRFS) by 145.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 143,164 shares of the company’s stock after buying an additional 84,924 shares during the period. Alliancebernstein L.P.’s holdings in BRF were worth $1,754,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in BRFS. Norges Bank acquired a new position in shares of BRF during the fourth quarter worth about $29,955,000. Legato Capital Management LLC raised its position in shares of BRF by 448.3% in the first quarter. Legato Capital Management LLC now owns 868,525 shares of the company’s stock worth $70,900,000 after buying an additional 710,125 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of BRF by 154.1% in the first quarter. Bank of New York Mellon Corp now owns 684,182 shares of the company’s stock worth $8,381,000 after buying an additional 414,876 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of BRF by 14.8% in the first quarter. Wells Fargo & Company MN now owns 2,857,982 shares of the company’s stock worth $35,011,000 after buying an additional 367,537 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of BRF by 10.4% in the first quarter. Ameriprise Financial Inc. now owns 1,800,093 shares of the company’s stock worth $22,051,000 after buying an additional 170,052 shares during the last quarter. Hedge funds and other institutional investors own 9.41% of the company’s stock.
Shares of BRF S.A. (NYSE BRFS) opened at 12.42 on Wednesday. BRF S.A. has a 52 week low of $10.60 and a 52 week high of $18.12. The firm’s market capitalization is $9.92 billion. The firm has a 50 day moving average price of $11.92 and a 200-day moving average price of $12.81.
A number of brokerages have weighed in on BRFS. Zacks Investment Research lowered BRF from a “hold” rating to a “sell” rating in a report on Thursday, June 15th. BidaskClub lowered BRF from a “sell” rating to a “strong sell” rating in a report on Saturday, July 1st. Bank of America Corporation restated a “buy” rating on shares of BRF in a report on Thursday, May 25th. Barclays PLC began coverage on BRF in a report on Tuesday, June 6th. They issued an “equal weight” rating and a $14.00 price objective on the stock. Finally, Citigroup Inc. lowered BRF from a “buy” rating to a “neutral” rating in a report on Monday, July 10th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $14.00.
BRF Company Profile
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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