BRF S.A. (BRFS) Stake Lowered by World Asset Management Inc
World Asset Management Inc cut its position in BRF S.A. (NYSE:BRFS) by 5.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,849 shares of the company’s stock after selling 2,819 shares during the period. World Asset Management Inc’s holdings in BRF were worth $564,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. UBS Asset Management Americas Inc. bought a new position in BRF during the fourth quarter worth approximately $1,048,000. Legato Capital Management LLC raised its position in 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 in the last quarter. Profund Advisors LLC raised its position in BRF by 76.7% in the first quarter. Profund Advisors LLC now owns 111,541 shares of the company’s stock worth $1,366,000 after buying an additional 48,417 shares in the last quarter. Deltec Asset Management LLC bought a new position in BRF during the first quarter worth approximately $613,000. Finally, Wells Fargo & Company MN raised its position in 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 in the last quarter. 9.41% of the stock is currently owned by institutional investors.
Shares of BRF S.A. (BRFS) opened at 12.39 on Thursday. The firm has a 50-day moving average price of $11.93 and a 200-day moving average price of $12.76. BRF S.A. has a one year low of $10.60 and a one year high of $18.12. The company’s market capitalization is $9.90 billion.
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A number of equities research analysts have weighed in on BRFS shares. Bank of America Corporation reiterated a “buy” rating on shares of BRF in a report on Thursday, May 25th. Zacks Investment Research upgraded BRF from a “sell” rating to a “hold” rating in a report on Monday, May 29th. Barclays PLC started coverage on BRF in a report on Tuesday, June 6th. They issued an “equal weight” rating and a $14.00 target price for the company. BidaskClub downgraded BRF from a “hold” rating to a “sell” rating in a report on Wednesday, June 14th. Finally, Citigroup Inc. downgraded BRF from a “buy” rating to a “neutral” rating in a report on Monday, July 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. BRF presently has a consensus rating of “Hold” and a consensus price target of $14.00.
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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