JPMorgan Chase & Co. Decreases Stock Holdings in Jbs N.V. $JBS

JPMorgan Chase & Co. lessened its stake in shares of Jbs N.V. (NYSE:JBS) by 77.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,539,021 shares of the company’s stock after selling 8,547,125 shares during the quarter. JPMorgan Chase & Co.’s holdings in JBS were worth $37,908,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in JBS. Banco BTG Pactual S.A. bought a new position in JBS during the third quarter valued at approximately $143,175,000. Ameriprise Financial Inc. grew its position in JBS by 23,891.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 6,583,073 shares of the company’s stock worth $98,285,000 after purchasing an additional 6,555,634 shares during the period. State Street Corp purchased a new stake in JBS during the 2nd quarter valued at $84,109,000. Alberta Investment Management Corp raised its stake in JBS by 205.9% during the 3rd quarter. Alberta Investment Management Corp now owns 4,234,300 shares of the company’s stock valued at $63,218,000 after buying an additional 2,850,000 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of JBS by 952.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,954,267 shares of the company’s stock valued at $59,037,000 after buying an additional 3,578,483 shares during the period.

JBS Stock Performance

Shares of JBS stock opened at $14.22 on Friday. The company has a current ratio of 1.54, a quick ratio of 0.76 and a debt-to-equity ratio of 2.15. Jbs N.V. has a 1-year low of $12.37 and a 1-year high of $17.80. The company’s fifty day simple moving average is $15.64 and its 200-day simple moving average is $14.67.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on JBS shares. The Goldman Sachs Group set a $18.50 price target on JBS in a research note on Wednesday, November 26th. UBS Group raised JBS to a “strong-buy” rating in a report on Friday, February 6th. Santander raised JBS from a “neutral” rating to an “outperform” rating in a research report on Thursday, December 11th. Zacks Research downgraded JBS from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Finally, Weiss Ratings raised shares of JBS from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, JBS presently has an average rating of “Buy” and an average price target of $19.40.

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.