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

BBB Foods Inc. (NYSE:TBBB) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $44.58 and last traded at $43.5290, with a volume of 36281 shares traded. The stock had previously closed at $42.85.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TBBB shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of BBB Foods in a research note on Wednesday, June 24th. UBS Group upgraded BBB Foods from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $43.00 to $51.00 in a research report on Tuesday. JPMorgan Chase & Co. boosted their price objective on BBB Foods from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Citigroup initiated coverage on BBB Foods in a research note on Friday, July 31st. They issued a “buy” rating and a $49.00 target price for the company. Finally, HSBC raised BBB Foods from a “hold” rating to a “buy” rating and raised their target price for the stock from $38.00 to $47.00 in a research report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.12.

BBB Foods Stock Down 0.2%

The company has a quick ratio of 0.35, a current ratio of 0.60 and a debt-to-equity ratio of 2.76. The business has a fifty day simple moving average of $40.79 and a two-hundred day simple moving average of $37.63. The company has a market capitalization of $4.97 billion and a price-to-earnings ratio of -27.02.

BBB Foods (NYSE:TBBB) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate 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 company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. Equities analysts expect that BBB Foods Inc. will post -0.61 EPS for the current year.

Institutional Investors Weigh In On BBB Foods

A number of hedge funds have recently made changes to their positions in TBBB. Goldman Sachs Group Inc. grew its stake in BBB Foods by 276.8% during the first quarter. Goldman Sachs Group Inc. now owns 156,526 shares of the company’s stock worth $4,176,000 after buying an additional 114,990 shares during the last quarter. Qube Research & Technologies Ltd increased its holdings in BBB Foods by 48.4% during the 2nd quarter. Qube Research & Technologies Ltd now owns 285,206 shares of the company’s stock valued at $7,917,000 after purchasing an additional 92,989 shares in the last quarter. Sei Investments Co. boosted its stake in BBB Foods by 57.7% in the second quarter. Sei Investments Co. now owns 417,794 shares of the company’s stock worth $11,598,000 after purchasing an additional 152,883 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of BBB Foods by 0.3% during the second quarter. The Manufacturers Life Insurance Company now owns 705,005 shares of the company’s stock worth $19,571,000 after purchasing an additional 2,434 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of BBB Foods by 32.3% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 171,979 shares of the company’s stock valued at $4,774,000 after buying an additional 41,979 shares in the last quarter. Institutional investors and hedge funds own 8.42% of the company’s stock.

BBB Foods Company Profile

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.