BRF – Brasil Foods S.A. (NYSE: BRFS) may not be a household name in America. The company is in production and the sale of poultry, pork, beef, milk, dairy products, and processed food products in Brazil and internationally. It looks as though it now has the most famous investor in the world as a shareholder. Reports are out in Brazil that Warren Buffett’s Berkshire Hathaway Inc. (NYSE: BRK-B) is taking a stake in the company.
As report from Valor Online noted, “The investor Warren Buffett arrived in Brazil. Executives of BRF-Brazil Foods told investors during a meeting sponsored by BTG Pactual that managers of Berkshire Hathaway, an investment company of billionaire American, visited the country and have been in business units. After becoming aware of the company, formed by the union of Sadia and Perdigão, began buying shares in the stock market.”
Perdigao SA and Sadia SA merged in 2009 to form Brasil Foods. Its ADRs are up up 3.9% at $18.14 and the 52-week trading range is $11.25 to $18.28. This one trades roughly 1.2 million shares a day in New York. If you look at how many stocks Buffett recently sold, it seems as though Berkshire Hathaway has plenty of share acquisition cash available.
This does not appear to be any attempt to take control of the company. Buffett often invests in companies and most of the time it is rather passive. He also is looking for better growth outside of the United States. Brazil and food, what more could could Warren Buffett want?
JON C. OGG
Travel Cards Are Getting Too Good To Ignore
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
