Sumitomo Mitsui Trust Group Inc. Boosts Holdings in Jbs N.V. $JBS

Sumitomo Mitsui Trust Group Inc. increased its position in Jbs N.V. (NYSE:JBS) by 199.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 803,813 shares of the company’s stock after purchasing an additional 535,463 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in JBS were worth $12,001,000 at the end of the most recent reporting period.

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

JBS Trading Down 2.8%

Shares of NYSE:JBS opened at $14.66 on Friday. The company has a current ratio of 1.54, a quick ratio of 0.76 and a debt-to-equity ratio of 2.15. The business has a 50 day simple moving average of $14.19. Jbs N.V. has a twelve month low of $12.37 and a twelve month high of $17.80.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Zacks Research raised JBS from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. Mizuho set a $20.00 target price on shares of JBS in a research note on Tuesday, October 28th. Santander raised shares of JBS from a “neutral” rating to an “outperform” rating in a report on Thursday, December 11th. Weiss Ratings reissued a “hold (c)” rating on shares of JBS in a report on Monday, December 29th. Finally, The Goldman Sachs Group set a $18.50 price objective on shares of JBS in a research report on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $19.38.

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.