Levin Capital Strategies L.P. Decreases Stake in Jbs N.V. $JBS

Key Points

• Levin Capital Strategies cut its stake in JBS by 46.8% in the first quarter, selling 112,370 shares and leaving it with 127,738 shares valued at about $2.29 million.
• JBS shares were up 2.4% on Thursday, with the stock opening at $12.23 and trading near the lower end of its 52-week range of $11.49 to $18.65.
• Analyst sentiment remains generally positive: JBS has a consensus Buy rating and average target price of $18.75, though recent target cuts and rating changes show some caution.

Levin Capital Strategies L.P. lessened its position in shares of Jbs N.V. (NYSE:JBS - Free Report) by 46.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 127,738 shares of the company's stock after selling 112,370 shares during the period. Levin Capital Strategies L.P.'s holdings in JBS were worth $2,294,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC purchased a new stake in shares of JBS during the 2nd quarter worth $29,000. Los Angeles Capital Management LLC purchased a new position in JBS in the fourth quarter valued at $31,000. Global Trust Asset Management LLC purchased a new position in JBS in the first quarter valued at $34,000. Quarry LP acquired a new stake in JBS in the third quarter valued at $34,000. Finally, Rockefeller Capital Management L.P. raised its stake in JBS by 50.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 3,757 shares of the company's stock valued at $54,000 after buying an additional 1,257 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have issued reports on JBS shares. Weiss Ratings downgraded JBS from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, June 29th. Zacks Research upgraded JBS from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Mizuho raised JBS to a "strong-buy" rating in a research report on Friday, April 10th. Barclays decreased their target price on JBS from $21.00 to $20.00 and set an "overweight" rating for the company in a research note on Thursday, July 16th. Finally, JPMorgan Chase & Co. dropped their price target on shares of JBS from $18.50 to $18.00 and set an "overweight" rating on the stock in a research note on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $18.75.

JBS Trading Up 2.4%

JBS opened at $12.23 on Thursday. The firm has a market cap of $9.49 billion and a price-to-earnings ratio of 7.70. Jbs N.V. has a 52 week low of $11.49 and a 52 week high of $18.65. The business's 50 day moving average is $12.31 and its two-hundred day moving average is $14.72. The company has a quick ratio of 0.77, a current ratio of 1.50 and a debt-to-equity ratio of 2.42.

JBS (NYSE:JBS - Get Free Report) last posted its quarterly earnings data on Tuesday, May 12th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.08). The firm had revenue of $21.61 billion during the quarter. JBS had a net margin of 1.98% and a return on equity of 19.28%. JBS's quarterly revenue was up 10.7% compared to the same quarter last year. On average, research analysts predict that Jbs N.V. will post 1.45 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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