Jbs N.V. $JBS Shares Purchased by Wellington Management Group LLP

Key Points

• Wellington Management increased its JBS position by 159.8% in the second quarter, adding 136,593 shares to own 222,086 shares valued at approximately $2.63 million.
• JBS reported quarterly revenue of $23.9 billion, up 13.8% year over year, but earnings of $0.20 per share missed analyst expectations of $0.32.
• JBS shares opened at $12.63, near the lower end of their 12-month range. Analysts maintain a “Moderate Buy” consensus with an average price target of $18.42, although several firms recently lowered their targets and two rating services moved the stock to “Sell.”

Wellington Management Group LLP grew its position in Jbs N.V. (NYSE:JBS - Free Report) by 159.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,086 shares of the company's stock after purchasing an additional 136,593 shares during the period. Wellington Management Group LLP's holdings in JBS were worth $2,632,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC purchased a new stake in shares of JBS in the second quarter worth about $29,000. Los Angeles Capital Management LLC purchased a new stake in shares of JBS during the 4th quarter valued at about $31,000. Global Trust Asset Management LLC purchased a new stake in shares of JBS during the 1st quarter valued at about $34,000. Quarry LP purchased a new stake in shares of JBS during the 3rd quarter valued at about $34,000. Finally, Rockefeller Capital Management L.P. lifted its position in JBS by 50.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,757 shares of the company's stock worth $54,000 after acquiring an additional 1,257 shares in the last quarter.

JBS Stock Up 0.4%

Shares of NYSE:JBS opened at $12.63 on Friday. The firm has a market cap of $9.80 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 4.69 and a beta of -1.67. The company has a fifty day simple moving average of $13.05 and a 200 day simple moving average of $14.26. The company has a current ratio of 1.53, a quick ratio of 0.77 and a debt-to-equity ratio of 2.51. Jbs N.V. has a 12-month low of $11.49 and a 12-month high of $18.65.

JBS (NYSE:JBS - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.12). The company had revenue of $23.90 billion for the quarter. JBS had a net margin of 1.22% and a return on equity of 12.00%. The business's quarterly revenue was up 13.8% compared to the same quarter last year. On average, equities research analysts anticipate that Jbs N.V. will post 1.08 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on JBS shares. Stephens dropped their price target on shares of JBS from $18.00 to $17.00 and set an "overweight" rating on the stock in a research note on Monday, August 17th. Weiss Ratings lowered shares of JBS from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, September 3rd. Barclays decreased their price objective on shares of JBS from $21.00 to $20.00 and set an "overweight" rating for the company in a research report on Thursday, July 16th. JPMorgan Chase & Co. dropped their target price on JBS from $18.00 to $17.50 and set an "overweight" rating on the stock in a research report on Wednesday, August 12th. Finally, Wall Street Zen cut JBS from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $18.42.

Insider Activity

In other news, CFO Guilherme Cavalcanti sold 183,501 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $13.85, for a total transaction of $2,541,488.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

About JBS

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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