Engineers Gate Manager LP Has $2.99 Million Stake in Jbs N.V. $JBS

Key Points

• Engineers Gate Manager LP reduced its JBS stake by 31.7% in the second quarter, selling 117,055 shares and retaining 252,312 shares valued at approximately $2.99 million.
• Several institutions increased or initiated positions in JBS, notably California State Teachers Retirement System, which raised its holdings by 4,656.9%, and Wellington Management Group, which increased its stake by 159.8%.
• JBS shares opened at $12.57, near the lower end of their 52-week range. The company missed quarterly earnings expectations, while analysts maintained a “Moderate Buy” consensus with an average price target of $18.42.

Engineers Gate Manager LP trimmed its stake in Jbs N.V. (NYSE:JBS - Free Report) by 31.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 252,312 shares of the company's stock after selling 117,055 shares during the period. Engineers Gate Manager LP's holdings in JBS were worth $2,990,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Squarepoint Ops LLC acquired a new stake in shares of JBS in the 2nd quarter valued at $1,451,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of JBS in the 2nd quarter worth about $609,000. California State Teachers Retirement System increased its position in shares of JBS by 4,656.9% during the 2nd quarter. California State Teachers Retirement System now owns 2,944,322 shares of the company's stock worth $34,890,000 after purchasing an additional 2,882,426 shares in the last quarter. A. D. Beadell Investment Counsel Inc. acquired a new stake in shares of JBS during the 2nd quarter worth about $283,000. Finally, Wellington Management Group LLP lifted its holdings in JBS by 159.8% during the 2nd quarter. Wellington Management Group LLP now owns 222,086 shares of the company's stock valued at $2,632,000 after purchasing an additional 136,593 shares during the last quarter.

JBS Price Performance

JBS opened at $12.57 on Monday. Jbs N.V. has a one year low of $11.49 and a one year high of $18.65. The company has a debt-to-equity ratio of 2.51, a current ratio of 1.53 and a quick ratio of 0.77. The company's 50 day simple moving average is $13.06 and its 200-day simple moving average is $14.23. The stock has a market capitalization of $9.76 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 4.70 and a beta of -1.67.

JBS (NYSE:JBS - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.12). JBS had a return on equity of 12.00% and a net margin of 1.22%.The company had revenue of $23.90 billion during the quarter. JBS's revenue was up 13.8% on a year-over-year basis. Sell-side analysts anticipate that Jbs N.V. will post 1.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Zacks Research upgraded shares of JBS from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. JPMorgan Chase & Co. cut their target price on shares of JBS from $18.00 to $17.50 and set an "overweight" rating for the company in a research note on Wednesday, August 12th. UBS Group boosted their target price on JBS from $17.00 to $17.50 and gave the stock a "buy" rating in a report on Monday, August 24th. Weiss Ratings downgraded JBS from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, September 3rd. Finally, Wall Street Zen lowered JBS from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.42.

Insider Activity at JBS

In other news, CFO Guilherme Cavalcanti sold 183,501 shares of the business's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $13.85, for a total transaction of $2,541,488.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

JBS Company Profile

JBS SA is a Brazil-based global food company that produces and sells animal-protein and prepared-food products. Its portfolio includes beef, pork, poultry, lamb, plant-based foods and value-added prepared meals, along with leather and other products derived from its processing operations.

Founded in 1953 by José Batista Sobrinho in Anápolis, Brazil, JBS has expanded from a local cattle-processing business into one of the world's largest protein companies. Its operations and products serve customers in Brazil and international markets across North America, South America, Europe, Asia, Africa and Australia.

JBS markets products under brands that include Friboi, Seara, Swift, Pilgrim's, Primo and 1855, although brand availability varies by country and product category.

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