Jbs N.V. $JBS Stake Trimmed by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its JBS stake by 95.3% in the third quarter, selling 1.76 million shares and retaining 86,127 shares valued at approximately $972,000.
• Other institutional investors, including Wellington Management, HSBC, Arrowstreet Capital and IPG Investment Advisors, increased their JBS holdings, indicating mixed sentiment among large shareholders.
• JBS reported quarterly EPS of $0.20, below the $0.32 analyst consensus, although revenue rose 13.8% year over year to $23.9 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $18.42 versus the stock’s reported $12.39 opening price.

Assenagon Asset Management S.A. reduced its holdings in Jbs N.V. (NYSE:JBS - Free Report) by 95.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 86,127 shares of the company's stock after selling 1,759,109 shares during the quarter. Assenagon Asset Management S.A.'s holdings in JBS were worth $972,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Wellington Management Group LLP raised its position in shares of JBS by 159.8% in the 2nd quarter. Wellington Management Group LLP now owns 222,086 shares of the company's stock worth $2,632,000 after acquiring an additional 136,593 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of JBS in the 2nd quarter valued at approximately $1,451,000. Hsbc Holdings PLC boosted its position in shares of JBS by 113.6% during the first quarter. Hsbc Holdings PLC now owns 189,000 shares of the company's stock valued at $3,375,000 after purchasing an additional 100,533 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of JBS by 117.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 7,687,775 shares of the company's stock valued at $138,072,000 after purchasing an additional 4,147,304 shares in the last quarter. Finally, IPG Investment Advisors LLC boosted its position in shares of JBS by 71.3% during the second quarter. IPG Investment Advisors LLC now owns 206,900 shares of the company's stock valued at $2,452,000 after purchasing an additional 86,100 shares in the last quarter.

Insiders Place Their Bets

In other JBS news, CFO Guilherme Cavalcanti sold 183,501 shares of the firm's 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

JBS Stock Performance

JBS stock opened at $12.39 on Friday. Jbs N.V. has a twelve month low of $10.61 and a twelve month high of $18.65. The company has a quick ratio of 0.77, a current ratio of 1.53 and a debt-to-equity ratio of 2.51. The company has a market capitalization of $9.61 billion, a P/E ratio of 12.23, a PEG ratio of 3.11 and a beta of -1.44. The stock's 50 day moving average is $12.69 and its 200 day moving average is $13.43.

JBS (NYSE:JBS - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.20 earnings per share (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%. JBS's revenue was up 13.8% on a year-over-year basis. On average, equities research analysts predict that Jbs N.V. will post 1.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Barclays decreased their price objective on JBS from $21.00 to $20.00 and set an "overweight" rating for the company in a report on Thursday, July 16th. Wall Street Zen cut shares of JBS from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Stephens dropped their target price on shares of JBS from $18.00 to $17.00 and set an "overweight" rating on the stock in a report on Monday, August 17th. Zacks Research raised shares of JBS from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Finally, UBS Group increased their price target on shares of JBS from $17.00 to $17.50 and gave the stock a "buy" rating in a research note on Monday, August 24th. 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 issued a Sell rating to the company. According to MarketBeat.com, JBS presently has an average rating of "Moderate Buy" and a consensus price target of $18.42.

JBS Profile

JBS SA is a Brazil-based global food company engaged primarily in the processing and marketing of animal protein. Its operations include beef, pork, poultry and prepared foods, with products sold through retail, foodservice and industrial channels.

The company offers fresh and frozen meats, processed and ready-to-eat foods, and branded products marketed under names that include JBS, Swift, Friboi, Seara and Pilgrim's. JBS also has businesses involved in leather, collagen, animal by-products and other food-related products, supporting an integrated approach to the protein supply chain.

Founded in 1953 by José Batista Sobrinho in Anápolis, Brazil, JBS has expanded from a local beef processor into an international food company.

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