# JBS N.V. (JBS)

> Source: Nexqual · https://nexqual.com/JBS · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, JBS N.V. (JBS), nexqual.com/JBS" · informational, not investment advice.

**Price:** USD 12.37 (-0.80% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 12.47 · day 11.79–12.41 · 52w 10.61–18.65 · market cap $13.2B · NYQ

## Key facts
- 1 of 80 tracked superinvestors hold JBS (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $2.5M; 1 not under a Rule 10b5-1 plan ($2.5M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.80 on a 1–5 scale) (15 analysts), mean target USD 18.34 (range 15.15–21.28).
- Total return with dividends: 1Y +3.6% vs S&P 500 +14.9%; 5Y -3.7% vs S&P 500 +80.3%.
- Next earnings: 2026-11-09, EPS estimate USD 1.15, revenue estimate $118B.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold JBS. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Christopher Davis | Davis Advisors | 2.54% | $593M | Added +90.6% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-24 | Cavalcanti Guilherme Perboyre | Global CFO and IRO | 183,501 | $2.5M | 100% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 1.80 on a 1–5 scale), 15 analysts; mean target USD 18.34 (low 15.15, high 21.28).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | JP Morgan | Target lowered | Overweight | $18 → $17.5 |
| 2026-10-09 | JP Morgan | Target raised | Overweight | $17.5 → $18 |
| 2026-08-24 | UBS | Target raised | Buy | $17 → $17.5 |
| 2026-08-17 | Stephens & Co. | Target lowered | Overweight | $18 → $17 |
| 2026-08-12 | JP Morgan | Target lowered | Overweight | $18 → $17.5 |
| 2026-07-28 | JP Morgan | Upgrade | Neutral → Overweight | $18 |
| 2026-07-16 | Barclays | Target lowered | Overweight | $21 → $20 |
| 2026-06-29 | JP Morgan | Target lowered | Neutral | $18.5 → $18 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2025-06-09) |
|---|---|---|
| Total return | +3.6% | -3.7% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +3.6% | -2.7% |
| Volatility (annualized) | 33.9% | 38.1% |
| Max drawdown | -36.3% (Apr 2026→Oct 2026) | -31.8% (Apr 2026→Sep 2026) |

## Peers (Packaged Foods)
MKC-V (McCormick & Company, Incorporat) USD 49.22 +4.19% · SJM (The J.M. Smucker Company) USD 133.39 +4.37% · HRL (Hormel Foods Corporation) USD 21.36 +4.50% · MICC (The Magnum Ice Cream Company N.) USD 19.39 +2.32% · GIS (General Mills, Inc.) USD 35.18 +8.01% · DAR (Darling Ingredients Inc.) USD 55.64 -5.84%

## More
Full page: https://nexqual.com/JBS · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in JBS's own 20-F filed 2026-03-25 (https://www.sec.gov/Archives/edgar/data/1791942/000121390026034213/ea0282342-20f_jbsnv.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Amazon (AMZN) | "Amazon Soy Moratorium, which requires it to only purchase from suppliers that have records of zero deforestation in the biome." |
| Customer | Banco Original | "Banco Original S.A., pursuant to which Banco Original S.A. acquires trade accounts receivables of certain or our customers in Brazil and" |
| Partner | Brazilian | "our and their respective obligations under the Brazilian Collaboration Agreements and Leniency Agreement, the SEC order and the DOJ plea" |
| Partner | Brasil | "S.A. completed the sale of its 50% interest in Meat Snack Partners do Brasil Ltda., for an aggregate amount of US$40.6 million." |

## Company outlook (8-K filed 2026-08-11)

- "Live cattle imports from Mexico remained restricted during the quarter, further constraining supply in the U.S. market, but are expected to resume gradually beginning on August 24 th ."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.15 | $2.17 | -47.1% | $118.18B | 6 |
| Next quarter (ends 2026-12-31) | $1.66 | $1.80 | -7.5% | $124.25B | 6 |
| Current fiscal year (ends 2026-12-31) | $4.15 | $6.95 | -40.3% | $472.18B | 7 |
| Next fiscal year (ends 2027-12-31) | $7.01 | $8.17 | -14.3% | $482.93B | 8 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-09): ±9.8%; last 1 reports averaged ±2.2%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 43.7% | ±9.8% |
| 2026-12-18 | 56 | 40.7% | ±12.8% |
| 2027-01-15 | 84 | 38.7% | ±14.8% |
| 2027-04-16 | 175 | 38.6% | ±21.3% |