Zacks Investment Research upgraded shares of BRF SA (NYSE:BRFS) from a sell rating to a hold rating in a research report sent to investors 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. “

Shares of BRF SA (NYSE:BRFS) opened at 15.23 on Friday. BRF SA has a 1-year low of $11.05 and a 1-year high of $18.12. The stock has a 50 day moving average of $16.28 and a 200 day moving average of $15.61. The company has a market cap of $12.17 billion, a price-to-earnings ratio of 27.69 and a beta of 0.85.

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Hedge funds have recently made changes to their positions in the company. Oxford Asset Management raised its stake in shares of BRF SA by 18.7% in the second quarter. Oxford Asset Management now owns 2,259,849 shares of the company’s stock worth $31,480,000 after buying an additional 356,184 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of 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 during the last quarter. Societe Generale acquired a new stake in shares of BRF SA during the second quarter worth approximately $755,000. State of New Jersey Common Pension Fund D acquired a new stake in shares of BRF SA during the second quarter worth approximately $536,000. Finally, World Asset Management Inc raised its stake in shares of BRF SA by 3.9% in the second quarter. World Asset Management Inc now owns 51,230 shares of the company’s stock worth $714,000 after buying an additional 1,926 shares during the last quarter. 7.87% of the stock is owned by institutional investors.

BRF SA Company Profile

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.

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