Zacks Research Upgrades BBB Foods (NYSE:TBBB) to “Hold”

BBB Foods (NYSE:TBBB) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other equities research analysts have also recently commented on TBBB. JPMorgan Chase & Co. increased their target price on shares of BBB Foods from $44.00 to $46.00 and gave the company an “overweight” rating in a research report on Monday, April 20th. Wall Street Zen upgraded shares of BBB Foods from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Scotiabank boosted their price target on shares of BBB Foods from $37.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. HSBC raised shares of BBB Foods from a “hold” rating to a “buy” rating and upped their price objective for the company from $38.00 to $47.00 in a research note on Wednesday, May 27th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of BBB Foods in a report on Wednesday, June 24th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $43.14.

BBB Foods Stock Down 2.9%

Shares of TBBB opened at $40.51 on Monday. The stock has a 50 day moving average price of $39.47 and a 200 day moving average price of $36.83. BBB Foods has a one year low of $23.81 and a one year high of $43.81. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.35 and a current ratio of 0.60. The stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of -26.13 and a beta of -0.02.

BBB Foods (NYSE:TBBB) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03). BBB Foods had a negative net margin of 3.95% and a negative return on equity of 79.86%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Equities research analysts forecast that BBB Foods will post -0.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BBB Foods

Large investors have recently modified their holdings of the business. Wasatch Advisors LP grew its holdings in shares of BBB Foods by 3.4% during the 2nd quarter. Wasatch Advisors LP now owns 4,239,474 shares of the company’s stock worth $176,659,000 after purchasing an additional 139,649 shares during the period. Orbis Allan Gray Ltd purchased a new stake in BBB Foods in the 4th quarter valued at about $109,810,000. Principal Financial Group Inc. purchased a new stake in BBB Foods in the 1st quarter valued at about $65,967,000. Duquesne Family Office LLC raised its holdings in BBB Foods by 228.1% in the 3rd quarter. Duquesne Family Office LLC now owns 1,183,125 shares of the company’s stock valued at $31,897,000 after buying an additional 822,575 shares during the period. Finally, Capital International Inc. CA lifted its position in BBB Foods by 1.3% in the fourth quarter. Capital International Inc. CA now owns 1,022,314 shares of the company’s stock valued at $34,135,000 after buying an additional 12,962 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.