NewEdge Wealth LLC Purchases 62,974 Shares of Jbs N.V. $JBS

NewEdge Wealth LLC boosted its position in Jbs N.V. (NYSE:JBS) by 18.5% in the 1st quarter, HoldingsChannel reports. The firm owned 403,750 shares of the company’s stock after acquiring an additional 62,974 shares during the period. NewEdge Wealth LLC’s holdings in JBS were worth $7,251,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of JBS. Rhumbline Advisers acquired a new position in JBS during the second quarter worth approximately $203,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of JBS in the second quarter valued at approximately $5,490,000. EverSource Wealth Advisors LLC acquired a new stake in shares of JBS in the second quarter valued at approximately $29,000. First Trust Advisors LP bought a new position in shares of JBS during the 2nd quarter worth approximately $1,419,000. Finally, Marshall Wace LLP bought a new position in shares of JBS during the 2nd quarter worth approximately $5,206,000.

JBS Trading Down 1.0%

Shares of NYSE:JBS opened at $12.12 on Friday. Jbs N.V. has a 12-month low of $11.49 and a 12-month high of $18.65. The business has a 50 day moving average of $12.27 and a 200-day moving average of $14.70. The company has a quick ratio of 0.77, a current ratio of 1.50 and a debt-to-equity ratio of 2.42. The stock has a market cap of $9.41 billion and a PE ratio of 7.62.

JBS (NYSE:JBS) last announced 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 firm had revenue of $21.61 billion for the quarter. JBS had a return on equity of 19.28% and a net margin of 1.98%.The business’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, equities research analysts forecast that Jbs N.V. will post 1.45 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Zacks Research raised JBS from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. UBS Group set a $17.00 price target on JBS in a report on Tuesday, May 19th. Mizuho raised shares of JBS to a “strong-buy” rating in a research report on Friday, April 10th. Weiss Ratings downgraded shares of JBS from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, June 29th. Finally, Barclays dropped their price objective on shares of JBS from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, July 16th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $18.75.

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.