|Bid||27.20 x 0|
|Ask||27.29 x 0|
|Day's Range||0.00 - 0.00|
|52 Week Range|
|Beta (5Y Monthly)||0.32|
|PE Ratio (TTM)||24.03|
|Earnings Date||Mar 23, 2021 - Mar 29, 2021|
|Forward Dividend & Yield||0.54 (1.96%)|
|Ex-Dividend Date||Apr 29, 2020|
|1y Target Est||12.99|
COVID-19 vaccines are making their way into the arms of U.S. meat and agriculture workers, but companies and union officials say progress needs to be faster after coronavirus outbreaks idled slaughterhouses and sickened thousands of workers. Vaccinating food workers could help prevent further production disruptions that sent meat prices soaring in spring 2020 and forced retailers like Kroger Co to restrict customers' purchases of ground beef and other products. Nationwide, 22,000 meatpacking workers have been infected or exposed to the virus, and 132 have died, according to the United Food and Commercial Workers (UFCW) International union.
(Bloomberg) -- The world’s largest meat packer JBS SA will offer Covid-19 vaccines to about 8,500 workers at its American subsidiaries.Employees of JBS USA and Pilgrim’s Pride Corp., the U.S.’s second-largest chicken producer, will be offered the shot in eight states, the company said in a statement on Saturday. Some vaccinations will be administered on site, like in Greeley, Colorado, while others will be provided to the company’s workers through local health departments.Vaccinations of meat workers are starting to accelerate, with some JBS employees already headed for a second dose. Cargill Inc. said it’s preparing to offer the vaccine to employees at three protein facilities, while Tyson Foods Inc. said it will compensate staff for four hours if they seek vaccinations outside normal shift hours or through an external provider.A JBS USA spokesperson said some plants have age restrictions “but most do not.”Thousands of meat-plant employees across the country have been infected with the coronavirus, and hundreds have died as the disease spread through the cold and crowded facilities. The disruptions were so large that many plants were last year forced to close, fueling concerns about meat shortages.“We have been focused on doing everything we can to prioritize our essential workforce in state vaccination plans across the country,” Andre Nogueira, chief executive officer of JBS USA, said in the statement.JBS and Pilgrim’s will help vaccinations by leveraging their health and safety staff, coordinating logistics and partnering with third-party health organizations to ensure medical professionals are available to administer the shot. About 700 workers in Beardstown, Illinois, will receive their second dose this week.The companies announced earlier this year that they’d offer a $100 incentive for team members who choose to get vaccinated.“Our role is to be flexible in helping our team members and local officials in the communities where we operate,” Nogueira said. “Whether that includes shutting down a facility to execute a mass vaccination or providing paid time off, incentives and facilitating transportation for our workforce to get where they need to go to get their vaccine, we’re committed to ensuring they have every opportunity possible to be vaccinated.”Vaccinations will be offered to employees at the following facilities:Beardstown, IllinoisBooneville, MississippiCactus and Lufkin, TexasGrand Island, NebraskaGreeley, ColoradoHyrum, UtahMarshalltown, IowaMoorefield, West VirginiaFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Demand for faux burgers is growing so rapidly that JBS SA, the world’s biggest meat supplier, said it will likely set up a new global company focused solely on plant-based products.Meat from animals will be a pricey luxury in the future, and people will have to turn to vegetable-derived alternatives, which will be cheaper, JBS’s Chief Executive Officer Gilberto Tomazoni told Bloomberg in an interview. In addition, the world’s population is booming and expected to reach 10 billion by 2050. The amount of meat needed to satisfy the world’s protein needs won’t be possible to produce.“Plant-based will help us to reduce this protein gap with more affordable products compared with animal protein, which will be more premium,” Tomazoni said. “We see plant-based as an independent business in the future.”Separating plant-based and animal protein businesses is a good idea because of cultural differences in the two spaces, according to Robert Lawson, managing partner of Food Strategy Associates and former CEO of Quorn. While the meat business is about profit maximization, plant-based is about capturing market share, he said.The winner in plant-based “isn’t the business who made profits each year and captured 1% share of the market,” he said. “It’s the company who invested in making the best products and built the best brand. The objective is to capture as much of the growth as you can and manage the profitability later.”Brazil-based JBS is just one of many sprawling, legacy food companies trying to up their meat-substitutes game as burgers and sausages made from plant proteins become mainstream. Consumer demand has soared after startups like Beyond Meat and Impossible Foods popularized veggie burgers that imitate real beef. The likes of McDonald’s and Starbucks have added alternative meat items to their menus.JBS, like U.S. rival Tyson Foods Inc., entered the plant-based meat market in 2019, and regional teams across the globe developed products. The new company Tomazoni envisions would gather all those regional businesses in a global enterprise.The company already has a sizable footprint, with about 57% of the plant-based burger market in Brazil. In Europe, its Moy Park subsidiary supplies faux chicken burgers. It also has 10 plant-based products in more than 3,000 U.S. stores under the OZO brand, where sales rose 300% last year.It will still be a challenge to compete with companies like Beyond Meat that created the fake meat craze. Investment money has been pouring into alternative protein startups, which raised a record $2.4 billion of funding in 2020, according to market researcher CB Insights.“We have the basis to grow on plant-based: innovation capacity, investments in research, agreements with global companies for ingredient supplies, presence in retail,” Tomazoni said.For now, JBS’s focus is developing new products and trying to better understand the market, Tomazoni said. While it’s still unclear how much plant-based meat will grow, one thing is for sure: it’s not just a niche market. Even now, rising middle-class populations in Asia and Africa are clamoring for more protein in their diets. Protein production must rise 70% in 30 years to meet demand, Tomazoni said, citing UN figures.“This is a long-term race,” he said. “Consumers will have more choices.”(Adds analyst comment starting in the 4th paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.