The Manufacturers Life Insurance Company Takes Position in BBB Foods Inc. $TBBB

The Manufacturers Life Insurance Company bought a new stake in BBB Foods Inc. (NYSE:TBBB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 255,111 shares of the company’s stock, valued at approximately $10,630,000.

Several other hedge funds have also recently added to or reduced their stakes in TBBB. Orbis Allan Gray Ltd bought a new position in BBB Foods during the fourth quarter worth about $109,810,000. Principal Financial Group Inc. bought a new stake in shares of BBB Foods in the 1st quarter valued at approximately $65,967,000. Wasatch Advisors LP grew its stake in shares of BBB Foods by 314.6% in the 2nd quarter. Wasatch Advisors LP now owns 2,192,012 shares of the company’s stock valued at $60,850,000 after purchasing an additional 1,663,338 shares during the period. Duquesne Family Office LLC grew its stake in shares of 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 purchasing an additional 822,575 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of BBB Foods by 296.5% in the 4th quarter. Millennium Management LLC now owns 778,613 shares of the company’s stock worth $25,998,000 after buying an additional 582,262 shares in the last quarter. Institutional investors and hedge funds own 8.42% of the company’s stock.

BBB Foods Stock Performance

NYSE TBBB opened at $50.45 on Friday. The firm has a market cap of $5.98 billion, a price-to-earnings ratio of -31.33 and a beta of 0.05. The company has a 50 day moving average of $44.82 and a 200-day moving average of $39.88. 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 Inc. has a 1-year low of $23.81 and a 1-year high of $52.22.

BBB Foods (NYSE:TBBB) last posted its earnings results 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 firm had revenue of $1.49 billion during 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 analysts forecast that BBB Foods Inc. will post -0.63 earnings per share for the current fiscal year.

Insider Transactions at BBB Foods

In other BBB Foods news, Director Sapire Rose Nicole Domin Reich sold 7,623 shares of BBB Foods stock in a transaction on Wednesday, September 9th. The stock was 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 hyperlink.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Scotiabank restated an “outperform” rating and set a $65.00 target price on shares of BBB Foods in a research report on Thursday, August 27th. Wall Street Zen upgraded BBB Foods from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Zacks Research upgraded BBB Foods from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Citigroup began coverage on BBB Foods in a report on Friday, July 31st. They set a “buy” rating and a $49.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of BBB Foods from $48.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, BBB Foods has an average rating of “Moderate Buy” and an average price target of $50.50.

BBB Foods Profile

BBB Foods Inc is a Mexico-based discount retailer that operates under the Tiendas 3B brand. The company serves consumers through neighborhood stores offering everyday necessities at affordable prices, with a focus on convenience, value and accessible locations.

Tiendas 3B stores sell a range of groceries, household products, personal-care items and other frequently purchased consumer goods. The business emphasizes a hard-discount retail model, including a selection of private-label and branded products, streamlined store formats and cost-conscious operations.

BBB Foods was founded in Mexico and has expanded its store network across the country.