BBB Foods (NYSE:TBBB) Hits New 12-Month High – Here’s Why

Shares of BBB Foods Inc. (NYSE:TBBB) hit a new 52-week high during trading on Monday . The stock traded as high as $35.20 and last traded at $34.9520, with a volume of 267004 shares traded. The stock had previously closed at $33.71.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wall Street Zen upgraded BBB Foods from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings reiterated a “sell (d+)” rating on shares of BBB Foods in a research note on Monday. Zacks Research raised shares of BBB Foods from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 9th. The Goldman Sachs Group lifted their target price on shares of BBB Foods from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, December 18th. Finally, JPMorgan Chase & Co. increased their price target on BBB Foods from $35.50 to $39.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, BBB Foods presently has a consensus rating of “Hold” and an average price target of $35.80.

BBB Foods Stock Up 0.0%

The firm’s 50 day moving average price is $30.65 and its two-hundred day moving average price is $27.65. The company has a quick ratio of 0.39, a current ratio of 0.65 and a debt-to-equity ratio of 2.21.

BBB Foods (NYSE:TBBB) last issued its quarterly earnings data on Wednesday, November 19th. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.23). The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. BBB Foods had a negative return on equity of 44.56% and a negative net margin of 2.61%. On average, research analysts predict that BBB Foods Inc. will post 0.15 EPS for the current year.

Institutional Investors Weigh In On BBB Foods

A number of hedge funds have recently bought and sold shares of TBBB. J.Safra Asset Management Corp boosted its stake in shares of BBB Foods by 3.5% during the 3rd quarter. J.Safra Asset Management Corp now owns 12,441 shares of the company’s stock valued at $335,000 after buying an additional 423 shares during the last quarter. Verdence Capital Advisors LLC boosted its stake in BBB Foods by 5.3% during the 3rd quarter. Verdence Capital Advisors LLC now owns 9,579 shares of the company’s stock valued at $279,000 after acquiring an additional 484 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in BBB Foods by 26.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,869 shares of the company’s stock valued at $75,000 after acquiring an additional 593 shares during the last quarter. Blue Trust Inc. grew its holdings in BBB Foods by 6.2% during the 3rd quarter. Blue Trust Inc. now owns 11,170 shares of the company’s stock worth $301,000 after acquiring an additional 657 shares in the last quarter. Finally, Orion Porfolio Solutions LLC increased its position in shares of BBB Foods by 2.9% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 27,163 shares of the company’s stock worth $732,000 after purchasing an additional 770 shares during the last quarter. Institutional investors and hedge funds own 8.42% of the company’s stock.

About BBB Foods

BBB Foods Inc, through its subsidiaries, operates a chain of grocery retail stores in Mexico. It offers household cleaning, personal hyenine, cosmetics and beauty, pharmacy, and general merchandise products, as well as jellies and desserts, foods and drinks, pet supplies, coffee, tea, chocolates, breads, dry and frozen foods, snacks and sweets, and toilet papers and napkins. The company also provides branded, private label, and spot products. It serves low-to-middle income households through online channels.