BBB Foods (NYSE:TBBB) Sets New 12-Month High After Strong Earnings

Shares of BBB Foods Inc. (NYSE:TBBB) hit a new 52-week high on Tuesday following a stronger than expected earnings report. The stock traded as high as $60.00 and last traded at $59.3480, with a volume of 189,527 shares changing hands. The stock had previously closed at $56.97.

The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.11. BBB Foods had a negative return on equity of 72.47% and a negative net margin of 3.68%. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.53 billion.

Analysts Set New Price Targets

A number of analysts have commented on TBBB shares. JPMorgan Chase & Co. upped their price target on BBB Foods from $48.00 to $67.00 and gave the stock an “overweight” rating in a research report on Thursday, September 10th. Citigroup reaffirmed a “buy” rating on shares of BBB Foods in a research report on Monday, September 14th. UBS Group boosted their price objective on BBB Foods from $58.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, October 21st. Zacks Research raised shares of BBB Foods from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, Weiss Ratings raised shares of BBB Foods from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, BBB Foods has an average rating of “Moderate Buy” and an average price target of $51.88.

Insider Buying and Selling at BBB Foods

In related news, Director Sapire Rose Nicole Domin Reich sold 7,623 shares of the company’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $51.00, for a total value of $388,773.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Institutional Investors Weigh In On BBB Foods

Institutional investors and hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. purchased a new stake in BBB Foods during the 1st quarter valued at approximately $65,967,000. Ninety One UK Ltd bought a new stake in shares of BBB Foods during the third quarter valued at approximately $59,033,000. Carmignac Gestion lifted its holdings in shares of BBB Foods by 526.5% in the second quarter. Carmignac Gestion now owns 670,106 shares of the company’s stock worth $27,917,000 after buying an additional 563,141 shares in the last quarter. Ninety One North America Inc. purchased a new position in shares of BBB Foods in the third quarter worth $17,591,000. Finally, Ashoka WhiteOak Capital Pte Ltd purchased a new position in shares of BBB Foods in the third quarter worth $13,830,000. 8.42% of the stock is owned by institutional investors.

BBB Foods Trading Up 6.1%

The company has a debt-to-equity ratio of 2.16, a current ratio of 0.68 and a quick ratio of 0.44. The stock’s 50-day moving average is $53.34 and its two-hundred day moving average is $41.98. The stock has a market cap of $7.17 billion, a P/E ratio of -37.55 and a beta of 0.02.

BBB Foods Company Profile

BBB Foods Inc operates Tiendas 3B, a hard-discount grocery retail chain in Mexico. Its stores focus on everyday consumer essentials, including food, beverages, household products and personal-care items, offered primarily through a combination of private-label and selected national-brand products.

The company’s business model emphasizes a limited assortment, compact store formats and value-oriented pricing. Tiendas 3B stores primarily serve communities in Mexico, with a presence concentrated in the country’s central and southern regions.

BBB Foods was founded in 2004 and is led by Anthony Hatoum, who serves as the company’s chief executive officer.