Brf S.A. (NYSE:BRFS) Downgraded to “Neutral” at Citigroup Inc.

Citigroup Inc. downgraded shares of Brf S.A. (NYSE:BRFS) from a buy rating to a neutral rating in a report published on Monday, July 10th, The Fly reports.

A number of other brokerages have also commented on BRFS. BidaskClub lowered shares of Brf from a hold rating to a sell rating in a research note on Wednesday, June 14th. Barclays PLC started coverage on shares of Brf in a research note on Tuesday, June 6th. They issued an equal weight rating and a $14.00 price target on the stock. Zacks Investment Research upgraded shares of Brf from a sell rating to a hold rating in a research note on Monday, May 29th. Finally, Bank of America Corporation reiterated a buy rating on shares of Brf in a research note on Thursday, May 25th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The company has an average rating of Hold and an average target price of $14.00.

Shares of Brf (NYSE BRFS) traded down 0.96% during mid-day trading on Monday, reaching $12.42. The company’s stock had a trading volume of 2,857,253 shares. The company has a 50 day moving average price of $11.92 and a 200 day moving average price of $12.81. Brf has a 12 month low of $10.60 and a 12 month high of $18.12. The stock’s market capitalization is $9.92 billion.

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Several hedge funds and other institutional investors have recently made changes to their positions in the company. Legato Capital Management LLC increased its stake 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 period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Brf during the fourth quarter worth approximately $299,000. Westpac Banking Corp increased its stake in shares of Brf by 1.7% in the first quarter. Westpac Banking Corp now owns 1,310,572 shares of the company’s stock worth $16,055,000 after buying an additional 21,750 shares during the period. Macquarie Group Ltd. increased its stake in shares of Brf by 0.3% in the fourth quarter. Macquarie Group Ltd. now owns 2,750,237 shares of the company’s stock worth $40,589,000 after buying an additional 7,705 shares during the period. Finally, Norges Bank bought a new stake in shares of Brf during the fourth quarter worth approximately $29,955,000. Hedge funds and other institutional investors own 9.41% of the company’s stock.

About Brf

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.

The Fly

Analyst Recommendations for Brf (NYSE:BRFS)

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