Envestnet Asset Management Inc. Acquires 33,579 Shares of Jbs N.V. $JBS

Envestnet Asset Management Inc. lifted its holdings in Jbs N.V. (NYSE:JBS) by 36.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 126,439 shares of the company’s stock after purchasing an additional 33,579 shares during the period. Envestnet Asset Management Inc.’s holdings in JBS were worth $1,888,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. JPMorgan Chase & Co. bought a new position in JBS in the second quarter worth approximately $161,969,000. State Street Corp purchased a new stake in shares of JBS during the 2nd quarter worth $84,109,000. Maple Rock Capital Partners Inc. purchased a new position in JBS in the second quarter valued at about $32,342,000. Geode Capital Management LLC purchased a new position in JBS in the second quarter valued at about $31,092,000. Finally, Dendur Capital LP bought a new position in JBS in the second quarter worth about $28,051,000.

Analyst Upgrades and Downgrades

JBS has been the topic of a number of recent analyst reports. Santander upgraded shares of JBS from a “neutral” rating to an “outperform” rating in a report on Thursday, December 11th. UBS Group raised shares of JBS to a “strong-buy” rating in a report on Friday, February 6th. Weiss Ratings raised JBS from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 4th. The Goldman Sachs Group set a $18.50 target price on JBS in a research note on Wednesday, November 26th. Finally, Zacks Research cut JBS from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $19.40.

JBS Stock Up 1.5%

NYSE JBS opened at $16.88 on Friday. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.54 and a quick ratio of 0.76. The stock’s fifty day moving average price is $15.27 and its 200 day moving average price is $14.66. Jbs N.V. has a 1 year low of $12.37 and a 1 year high of $17.80.

JBS Profile

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.