JPMorgan Chase & Co. Sells 8,547,125 Shares of Jbs N.V. $JBS

JPMorgan Chase & Co. trimmed its stake in Jbs N.V. (NYSE:JBS) by 77.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,539,021 shares of the company’s stock after selling 8,547,125 shares during the period. JPMorgan Chase & Co.’s holdings in JBS were worth $37,908,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of JBS. State Street Corp purchased a new stake in shares of JBS during the second quarter worth about $84,109,000. Maple Rock Capital Partners Inc. purchased a new stake in JBS in the 2nd quarter worth approximately $32,342,000. Geode Capital Management LLC acquired a new position in shares of JBS in the second quarter worth about $31,092,000. Dendur Capital LP purchased a new position in JBS during the second quarter worth approximately $28,051,000. Finally, Alberta Investment Management Corp acquired a new stake in JBS in the 2nd quarter valued at $20,225,000.

JBS Stock Performance

NYSE:JBS opened at $16.88 on Friday. The stock has a fifty day simple moving average of $15.27 and a 200-day simple moving average of $14.66. Jbs N.V. has a 52-week low of $12.37 and a 52-week high of $17.80. The company has a quick ratio of 0.76, a current ratio of 1.54 and a debt-to-equity ratio of 2.15.

Wall Street Analyst Weigh In

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

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.