Pictet Asset Management Holding SA cut its stake in shares of Jbs N.V. (NYSE:JBS – Free Report) by 15.0% in the first quarter, Holdings Channel.com reports. The institutional investor owned 371,603 shares of the company’s stock after selling 65,834 shares during the quarter. Pictet Asset Management Holding SA’s holdings in JBS were worth $6,674,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC purchased a new position in shares of JBS in the 2nd quarter worth $29,000. Los Angeles Capital Management LLC purchased a new stake in JBS during the fourth quarter valued at $31,000. Quarry LP bought a new position in JBS in the third quarter valued at about $34,000. Rockefeller Capital Management L.P. lifted its holdings in JBS by 50.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 3,757 shares of the company’s stock valued at $54,000 after acquiring an additional 1,257 shares during the period. Finally, Parallel Advisors LLC purchased a new position in JBS in the third quarter worth about $61,000.
Wall Street Analysts Forecast Growth
JBS has been the subject of a number of recent research reports. Mizuho upgraded JBS to a “strong-buy” rating in a research note on Friday, April 10th. Zacks Research cut shares of JBS from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 11th. JPMorgan Chase & Co. dropped their price objective on shares of JBS from $18.50 to $18.00 and set an “overweight” rating on the stock in a report on Monday, June 29th. Weiss Ratings lowered shares of JBS from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday. Finally, Barclays reduced their target price on shares of JBS from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.92.
JBS Price Performance
NYSE JBS opened at $12.25 on Friday. The business’s fifty day moving average is $13.37 and its 200 day moving average is $14.94. Jbs N.V. has a fifty-two week low of $11.49 and a fifty-two week high of $18.65. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.77 and a current ratio of 1.50. The company has a market capitalization of $9.50 billion and a PE ratio of 7.70.
JBS (NYSE:JBS – Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.08). JBS had a return on equity of 19.28% and a net margin of 1.98%.The company had revenue of $21.61 billion during the quarter. JBS’s revenue was up 10.7% on a year-over-year basis. Sell-side analysts predict that Jbs N.V. will post 1.45 earnings per share for the current year.
JBS 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.
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