BRF S.A. (BRFS) Upgraded at J P Morgan Chase & Co
J P Morgan Chase & Co upgraded shares of BRF S.A. (NYSE:BRFS) from a neutral rating to an overweight rating in a research report released on Thursday morning, MarketBeat Ratings reports. J P Morgan Chase & Co currently has $16.00 price objective on the stock, up from their prior price objective of $13.00.
Several other analysts have also recently commented on the stock. BidaskClub upgraded shares of BRF from a sell rating to a hold rating in a research report on Monday, August 14th. Citigroup Inc. cut shares of BRF from a buy rating to a neutral rating in a research report on Monday, July 10th. Zacks Investment Research cut shares of BRF from a hold rating to a sell rating in a research report on Thursday, June 15th. Barclays PLC initiated coverage on shares of BRF in a research report on Tuesday, June 6th. They set an equal weight rating and a $14.00 target price for the company. Finally, Bank of America Corporation reiterated a buy rating on shares of BRF in a research report on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $15.00.
Shares of BRF (BRFS) opened at 14.79 on Thursday. The stock’s 50 day moving average price is $13.22 and its 200 day moving average price is $12.68. The company’s market capitalization is $11.82 billion. BRF has a 1-year low of $10.60 and a 1-year high of $18.12.
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Several hedge funds have recently made changes to their positions in the company. Grosvenor Capital Management L.P. grew its holdings in shares of BRF by 83.5% in the 2nd quarter. Grosvenor Capital Management L.P. now owns 1,573,202 shares of the company’s stock valued at $18,548,000 after buying an additional 715,902 shares during the period. Virtu KCG Holdings LLC acquired a new position in shares of BRF in the 2nd quarter valued at $241,000. Nordea Investment Management AB grew its holdings in shares of BRF by 63.7% in the 2nd quarter. Nordea Investment Management AB now owns 203,791 shares of the company’s stock valued at $2,403,000 after buying an additional 79,311 shares during the period. Vanguard Group Inc. grew its holdings in shares of BRF by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 3,326,909 shares of the company’s stock valued at $39,224,000 after buying an additional 51,093 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of BRF by 25.4% in the 2nd quarter. Northern Trust Corp now owns 776,261 shares of the company’s stock valued at $9,153,000 after buying an additional 157,138 shares during the period. 7.95% of the stock is owned by institutional investors.
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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