BBB Foods (NYSE:TBBB) Reaches New 1-Year High – Here’s Why

BBB Foods Inc. (NYSE:TBBB) hit a new 52-week high on Thursday . The stock traded as high as $35.40 and last traded at $34.79, with a volume of 323866 shares changing hands. The stock had previously closed at $33.50.

Analysts Set New Price Targets

TBBB has been the topic of several recent research reports. Zacks Research downgraded BBB Foods from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 7th. JPMorgan Chase & Co. lifted their price target on BBB Foods from $35.50 to $39.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of BBB Foods in a research note on Monday, December 29th. Morgan Stanley raised BBB Foods to an “overweight” rating in a research note on Wednesday. Finally, Wall Street Zen cut BBB Foods from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $35.80.

BBB Foods Trading Up 2.2%

The stock has a fifty day simple moving average of $33.30 and a 200 day simple moving average of $28.87. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.39 and a current ratio of 0.65. The firm has a market cap of $3.91 billion, a P/E ratio of -40.78 and a beta of -0.14.

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

Hedge Funds Weigh In On BBB Foods

Several large investors have recently made changes to their positions in the business. Wasatch Advisors LP raised its holdings in shares of BBB Foods by 314.6% during the 2nd quarter. Wasatch Advisors LP now owns 2,192,012 shares of the company’s stock worth $60,850,000 after acquiring an additional 1,663,338 shares in the last quarter. 3G Capital Partners LP raised its stake in BBB Foods by 328.6% during the second quarter. 3G Capital Partners LP now owns 1,500,000 shares of the company’s stock valued at $41,640,000 after purchasing an additional 1,150,000 shares in the last quarter. 12 West Capital Management LP lifted its position in BBB Foods by 39.8% during the third quarter. 12 West Capital Management LP now owns 3,382,770 shares of the company’s stock valued at $91,199,000 after purchasing an additional 963,712 shares during the last quarter. Duquesne Family Office LLC lifted its position in BBB Foods by 228.1% during the third quarter. Duquesne Family Office LLC now owns 1,183,125 shares of the company’s stock valued at $31,897,000 after purchasing an additional 822,575 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of BBB Foods by 153.5% in the 2nd quarter. Bank of America Corp DE now owns 599,626 shares of the company’s stock worth $16,646,000 after buying an additional 363,079 shares in the last quarter. 8.42% of the stock is currently owned by hedge funds and other institutional investors.

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.