BBB Foods (NYSE:TBBB) Stock Price Down 9% Following Weak Earnings

BBB Foods Inc. (NYSE:TBBB) shares fell 9% on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $31.30 and last traded at $30.96. 200,042 shares changed hands during trading, a decline of 69% from the average session volume of 637,823 shares. The stock had previously closed at $34.03.

The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.22). BBB Foods had a negative net margin of 2.61% and a negative return on equity of 44.56%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.24 billion.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Zacks Research upgraded BBB Foods from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 5th. Morgan Stanley upgraded shares of BBB Foods to an “overweight” rating in a report on Wednesday, January 28th. Itau BBA Securities downgraded shares of BBB Foods from an “outperform” rating to a “market perform” rating and set a $42.00 price target on the stock. in a report on Thursday, February 12th. Wall Street Zen downgraded BBB Foods from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Finally, The Goldman Sachs Group raised their price target on BBB Foods from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, December 18th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $39.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd acquired a new stake in BBB Foods during the 4th quarter valued at approximately $89,000. Virtu Financial LLC acquired a new stake in shares of BBB Foods during the fourth quarter worth approximately $399,000. XTX Topco Ltd bought a new stake in shares of BBB Foods in the fourth quarter worth $463,000. Tudor Investment Corp ET AL acquired a new stake in BBB Foods in the fourth quarter valued at $2,952,000. Finally, Millennium Management LLC grew its holdings in BBB Foods by 296.5% during the 4th quarter. Millennium Management LLC now owns 778,613 shares of the company’s stock worth $25,998,000 after acquiring an additional 582,262 shares in the last quarter. Hedge funds and other institutional investors own 8.42% of the company’s stock.

BBB Foods Price Performance

The company has a current ratio of 0.65, a quick ratio of 0.39 and a debt-to-equity ratio of 2.21. The company’s 50-day moving average price is $35.30 and its two-hundred day moving average price is $31.13. The company has a market cap of $3.52 billion, a P/E ratio of -36.83 and a beta of -0.16.

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.