Pictet Asset Management Holding SA Cuts Stock Position in Jbs N.V. $JBS

Pictet Asset Management Holding SA lessened its stake in shares of Jbs N.V. (NYSE:JBS) by 15.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 371,603 shares of the company’s stock after selling 65,834 shares during the period. Pictet Asset Management Holding SA’s holdings in JBS were worth $6,674,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BNDES Participacoes S.A. bought a new stake in JBS in the fourth quarter worth $2,874,074,000. Davis Selected Advisers bought a new position in shares of JBS during the fourth quarter valued at $170,945,000. Banco BTG Pactual S.A. purchased a new position in shares of JBS in the 3rd quarter worth about $143,175,000. Ameriprise Financial Inc. raised its position in shares of JBS by 23,891.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 6,583,073 shares of the company’s stock worth $98,285,000 after purchasing an additional 6,555,634 shares during the last quarter. Finally, State Street Corp boosted its stake in JBS by 5.6% in the 4th quarter. State Street Corp now owns 6,138,536 shares of the company’s stock worth $88,518,000 after purchasing an additional 327,364 shares in the last quarter.

Wall Street Analyst Weigh In

JBS has been the subject of a number of analyst reports. Zacks Research lowered shares of JBS from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 11th. UBS Group set a $17.00 target price on shares of JBS in a research note on Tuesday, May 19th. JPMorgan Chase & Co. cut their price target on shares of JBS from $18.50 to $18.00 and set an “overweight” rating on the stock in a report on Monday, June 29th. Mizuho raised shares of JBS to a “strong-buy” rating in a research report on Friday, April 10th. Finally, Weiss Ratings lowered shares of JBS from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, JBS currently has an average rating of “Moderate Buy” and a consensus price target of $18.92.

JBS Price Performance

NYSE JBS opened at $12.25 on Friday. Jbs N.V. has a one year low of $11.49 and a one year high of $18.65. The stock has a 50-day moving average of $13.37 and a 200 day moving average of $14.94. The company has a market capitalization of $9.50 billion and a price-to-earnings ratio of 7.70. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.77 and a current ratio of 1.50.

JBS (NYSE:JBS) last issued its earnings results on Tuesday, May 12th. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.08). The business had revenue of $21.61 billion during the quarter. JBS had a return on equity of 19.28% and a net margin of 1.98%.The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, sell-side analysts forecast 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.