Assenagon Asset Management S.A. Invests $21.87 Million in Jbs N.V. $JBS

Key Points

• Assenagon Asset Management acquired 1.85 million JBS shares worth approximately $21.9 million, representing a 0.24% stake. Several other institutional investors also initiated or increased positions.
• Analyst sentiment is broadly positive: JBS has a consensus “Buy” rating and an average price target of $18.75, with JPMorgan upgrading the stock to “overweight” and setting an $18 target.
• JBS shares opened at $14.22, while the company’s latest quarterly earnings of $0.20 per share missed estimates of $0.28 despite revenue rising 10.7% year over year to $21.61 billion.

Assenagon Asset Management S.A. purchased a new position in Jbs N.V. (NYSE:JBS - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,845,236 shares of the company's stock, valued at approximately $21,866,000. Assenagon Asset Management S.A. owned 0.24% of JBS at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC purchased a new stake in JBS during the second quarter worth $29,000. Los Angeles Capital Management LLC purchased a new position in shares of JBS in the fourth quarter valued at $31,000. Global Trust Asset Management LLC acquired a new position in shares of JBS during the 1st quarter worth $34,000. Quarry LP acquired a new position in shares of JBS during the 3rd quarter worth $34,000. Finally, Rockefeller Capital Management L.P. boosted its position in shares of JBS by 50.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,757 shares of the company's stock worth $54,000 after buying an additional 1,257 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages recently commented on JBS. Wall Street Zen raised shares of JBS from a "sell" rating to a "hold" rating in a research note on Sunday, August 2nd. Zacks Research raised shares of JBS from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Weiss Ratings lowered shares of JBS from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. upgraded JBS from a "neutral" rating to an "overweight" rating and set a $18.00 price objective for the company in a research report on Tuesday, July 28th. Finally, UBS Group set a $17.00 target price on JBS in a research note on Tuesday, May 19th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $18.75.

JBS Trading Down 0.0%

Shares of JBS opened at $14.22 on Monday. Jbs N.V. has a fifty-two week low of $11.49 and a fifty-two week high of $18.65. The stock has a fifty day moving average of $12.44 and a two-hundred day moving average of $14.67. 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 $11.04 billion, a PE ratio of 8.95, a price-to-earnings-growth ratio of 0.86 and a beta of -1.66.

JBS (NYSE:JBS - Get Free Report) last released its earnings results on Tuesday, May 12th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.08). JBS had a net margin of 1.98% and a return on equity of 19.28%. The business had revenue of $21.61 billion during the quarter. The firm's revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, analysts forecast that Jbs N.V. will post 1.46 EPS for the current year.

About JBS

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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