JPMorgan Chase & Co. Takes $161.97 Million Position in Jbs N.V. $JBS

JPMorgan Chase & Co. purchased a new stake in Jbs N.V. (NYSE:JBS) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 11,086,146 shares of the company’s stock, valued at approximately $161,969,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC bought a new position in shares of JBS in the 2nd quarter valued at about $31,092,000. Alberta Investment Management Corp acquired a new position in JBS in the second quarter valued at approximately $20,225,000. Ramirez Asset Management Inc. bought a new position in JBS in the second quarter valued at approximately $11,896,000. Sagil Capital LLP acquired a new stake in JBS during the 2nd quarter worth $9,535,000. Finally, Journey Advisory Group LLC bought a new stake in shares of JBS during the 2nd quarter valued at $5,750,000.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Stephens restated an “overweight” rating and issued a $19.00 price target on shares of JBS in a research report on Friday, August 15th. The Goldman Sachs Group set a $18.50 target price on JBS in a report on Wednesday. Zacks Research raised JBS from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 19th. Weiss Ratings reissued a “hold (c+)” rating on shares of JBS in a research note on Tuesday, November 11th. Finally, Santander assumed coverage on shares of JBS in a report on Thursday, August 14th. They set a “neutral” rating for the company. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $19.38.

JBS Stock Up 1.3%

NYSE JBS opened at $14.71 on Thursday. Jbs N.V. has a one year low of $12.37 and a one year high of $17.80. The company has a current ratio of 1.54, a quick ratio of 0.76 and a debt-to-equity ratio of 2.15. The stock’s 50-day simple moving average is $13.67.

JBS (NYSE:JBS) last posted its earnings results on Friday, November 14th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.74 by ($2.22). JBS’s revenue for the quarter was up 13.4% on a year-over-year basis.

About JBS

JBS N.V., together with its subsidiaries, operates as a protein and food company worldwide. The company offers beef, pork, chicken, poultry, fish, and lamb products; cooked frozen meat; plant based products; and other food products. It also sells leather, leather, hygiene and cleaning products, collagen, metal packaging, biodiesel, and others, as well as wet blue leather, semi-finished, and finished leather products.