Permanent Capital Management LP Invests $1.22 Million in Jbs N.V. $JBS

Permanent Capital Management LP bought a new stake in Jbs N.V. (NYSE:JBS) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 81,797 shares of the company’s stock, valued at approximately $1,221,000.

A number of other hedge funds have also bought and sold shares of the business. JPMorgan Chase & Co. bought a new stake in JBS in the 2nd quarter valued at about $161,969,000. State Street Corp acquired a new stake in shares of JBS in the second quarter valued at approximately $84,109,000. Maple Rock Capital Partners Inc. bought a new stake in shares of JBS in the second quarter valued at approximately $32,342,000. Geode Capital Management LLC acquired a new stake in JBS during the second quarter worth approximately $31,092,000. Finally, Dendur Capital LP bought a new position in JBS during the 2nd quarter worth $28,051,000.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on JBS shares. Mizuho set a $20.00 target price on JBS in a research report on Tuesday, October 28th. JPMorgan Chase & Co. cut their price objective on shares of JBS from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Tuesday, October 14th. Weiss Ratings downgraded shares of JBS from a “buy (b-)” rating to a “hold (c)” rating in a research note on Monday, December 22nd. Zacks Research upgraded shares of JBS from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 19th. Finally, The Goldman Sachs Group set a $18.50 price target on shares of JBS in a report on Wednesday, November 26th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $19.38.

JBS Stock Performance

JBS opened at $14.56 on Monday. The firm has a 50 day moving average of $13.85. Jbs N.V. has a 1-year low of $12.37 and a 1-year high of $17.80. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.76 and a current ratio of 1.54.

JBS Company Profile

JBS SA is a global leader in the production and processing of meat products, with a focus on beef, pork and poultry. Headquartered in São Paulo, Brazil, the company operates through an extensive network of owned facilities and partnerships that span the Americas, Europe and the Asia-Pacific region. JBS supplies fresh, frozen and value-added protein solutions for retail, foodservice and industrial customers, and is active across the entire supply chain—from livestock procurement and feed production to slaughtering, processing, packaging and distribution.

Founded in 1953 by José Batista Sobrinho in Anápolis, Goiás, JBS began as a small slaughterhouse and expanded rapidly through strategic acquisitions and organic growth.