BBB Foods (NYSE:TBBB) Hits New 52-Week High – Time to Buy?

Shares of BBB Foods Inc. (NYSE:TBBB) hit a new 52-week high during trading on Friday . The company traded as high as $50.77 and last traded at $50.55, with a volume of 72398 shares. The stock had previously closed at $49.77.

Wall Street Analysts Forecast Growth

TBBB has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of BBB Foods from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of BBB Foods in a research report on Wednesday, June 24th. Zacks Research raised shares of BBB Foods from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Scotiabank boosted their target price on shares of BBB Foods from $37.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Finally, Citigroup assumed coverage on BBB Foods in a report on Friday, July 31st. They set a “buy” rating and a $49.00 price target on the stock. One investment 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.12.

BBB Foods Stock Up 1.1%

The company’s 50 day moving average price is $42.25 and its two-hundred day moving average price is $38.53. The firm has a market cap of $5.97 billion and a PE ratio of -31.27. The company has a current ratio of 0.68, a quick ratio of 0.44 and a debt-to-equity ratio of 2.16.

BBB Foods (NYSE:TBBB) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.03). The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.42 billion. BBB Foods had a negative net margin of 3.68% and a negative return on equity of 72.47%. On average, equities research analysts expect that BBB Foods Inc. will post -0.61 EPS for the current fiscal year.

Institutional Trading of BBB Foods

Several hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its stake in shares of BBB Foods by 276.8% in 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 period. Qube Research & Technologies Ltd grew its stake in shares of 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 acquiring an additional 92,989 shares during the period. Sei Investments Co. increased its holdings in BBB Foods by 57.7% in the 2nd quarter. Sei Investments Co. now owns 417,794 shares of the company’s stock worth $11,598,000 after acquiring an additional 152,883 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in BBB Foods by 0.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 705,005 shares of the company’s stock worth $19,571,000 after acquiring an additional 2,434 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in BBB Foods by 32.3% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 171,979 shares of the company’s stock worth $4,774,000 after acquiring an additional 41,979 shares during the period. Institutional investors 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.