BBB Foods (NYSE:TBBB) Price Target Raised to $67.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan raised BBB Foods’ price target to $67 from $48 and maintained an “overweight” rating, implying 31.54% upside from the prior close. The stock’s consensus rating is “Moderate Buy,” with an average target of $50.50.
• BBB Foods shares fell 1.4% to $50.94, despite trading near their one-year high of $52.22. The company reported quarterly revenue of $1.49 billion, above estimates, but missed expectations on earnings per share and continued to post negative profitability metrics.
• Analyst sentiment is generally positive, but an insider recently sold 7,623 shares at an average price of $50.50. Institutional investors own 8.42% of the Mexico-focused grocery retailer.

BBB Foods (NYSE:TBBB - Get Free Report) had its price objective boosted by stock analysts at JPMorgan Chase & Co. from $48.00 to $67.00 in a report issued on Thursday, Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 31.54% from the stock's previous close.

A number of other equities research analysts have also recently commented on the stock. Citigroup assumed coverage on shares of BBB Foods in a report on Friday, July 31st. They set a "buy" rating and a $49.00 price target on the stock. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of BBB Foods in a research report on Wednesday, June 24th. UBS Group increased their target price on BBB Foods from $51.00 to $58.00 and gave the company a "buy" rating in a research note on Friday, August 28th. Scotiabank reissued an "outperform" rating and issued a $65.00 target price on shares of BBB Foods in a report on Thursday, August 27th. Finally, Zacks Research upgraded BBB Foods from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, BBB Foods presently has an average rating of "Moderate Buy" and an average price target of $50.50.

BBB Foods Stock Down 1.4%

BBB Foods stock traded down $0.72 during mid-day trading on Thursday, reaching $50.94. The stock had a trading volume of 81,840 shares, compared to its average volume of 657,734. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of -31.66 and a beta of 0.05. The company has a 50-day moving average price of $44.47 and a two-hundred day moving average price of $39.71. BBB Foods has a one year low of $23.81 and a one year high of $52.22. The company has a debt-to-equity ratio of 2.16, a current ratio of 0.68 and a quick ratio of 0.44.

BBB Foods (NYSE:TBBB - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.03). The firm 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, analysts expect that BBB Foods will post -0.63 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Sapire Rose Nicole Domin Reich sold 7,623 shares of the firm's stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $50.50, for a total value of $384,961.50. Following the sale, the director owned 7,623 shares in the company, valued at approximately $384,961.50. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Institutional Investors Weigh In On BBB Foods

Large investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. bought a new position in shares of BBB Foods during the 2nd quarter valued at $25,000. Larson Financial Group LLC grew its holdings in shares of BBB Foods by 547.9% in the third quarter. Larson Financial Group LLC now owns 1,056 shares of the company's stock worth $28,000 after acquiring an additional 893 shares during the period. Smartleaf Asset Management LLC purchased a new stake in BBB Foods during the fourth quarter valued at $39,000. Caitong International Asset Management Co. Ltd purchased a new stake in BBB Foods during the fourth quarter valued at $89,000. Finally, Global Retirement Partners LLC bought a new position in BBB Foods in the fourth quarter valued at about $136,000. 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.

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