Zacks Investment Research upgraded shares of BRF SA (NYSE:BRFS) from a sell rating to a hold rating in a research note released on Friday morning.

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. “

BRF SA (NYSE:BRFS) opened at 15.50 on Friday. The company’s 50 day moving average is $16.41 and its 200 day moving average is $15.56. BRF SA has a 52-week low of $11.05 and a 52-week high of $18.12. The firm has a market cap of $12.38 billion, a P/E ratio of 28.18 and a beta of 0.85.

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Several hedge funds have recently modified their holdings of the stock. Wetherby Asset Management Inc. purchased a new stake in shares of BRF SA during the second quarter valued at $140,000. Charlemagne Capital Ltd. increased its stake in BRF SA by 32.7% in the second quarter. Charlemagne Capital Ltd. now owns 10,539 shares of the company’s stock worth $147,000 after buying an additional 2,599 shares in the last quarter. Sei Investments Co. increased its stake in BRF SA by 142.4% in the second quarter. Sei Investments Co. now owns 10,756 shares of the company’s stock worth $150,000 after buying an additional 6,319 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its stake in BRF SA by 0.9% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 11,109 shares of the company’s stock worth $153,000 after buying an additional 100 shares in the last quarter. Finally, Global X Management Co. LLC increased its stake in BRF SA by 31.6% in the second quarter. Global X Management Co. LLC now owns 13,014 shares of the company’s stock worth $181,000 after buying an additional 3,123 shares in the last quarter. 7.87% of the stock is currently owned by institutional investors and hedge funds.

About BRF SA

BRF SA (BRF) is a food company that focuses on the production and sale of poultry, pork and processed foods. The Company produces fresh and frozen protein foods, with a portfolio of over four thousand stock keeping units (SKUs). It sells margarine, sweet specialties, sandwiches, mayonnaise and animal feed.

5 Day Chart for NYSE:BRFS

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