BBB Foods (NYSE:TBBB) Shares Down 5.8% - What's Next?

Key Points

• Shares of BBB Foods Inc. (NYSE:TBBB) dropped by 5.8%, with current trading at $26.40 following a mid-day low of $26.71.
• Analysts have mixed opinions on the stock, with recent downgrades and upgrades, resulting in an average rating of "Hold" and a target price of $33.17.
• The company reported a quarterly loss of ($0.13) EPS, falling short of consensus estimates by ($0.09), which highlights ongoing financial challenges.

BBB Foods Inc. (NYSE:TBBB - Get Free Report) dropped 5.8% during trading on Wednesday . The company traded as low as $26.71 and last traded at $26.40. Approximately 272,724 shares traded hands during trading, a decline of 65% from the average daily volume of 784,411 shares. The stock had previously closed at $28.02.

Analysts Set New Price Targets

TBBB has been the topic of a number of recent research reports. The Goldman Sachs Group raised BBB Foods to a "hold" rating in a research report on Wednesday, July 9th. UBS Group raised their price objective on shares of BBB Foods from $32.00 to $33.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Itau BBA Securities upgraded BBB Foods from a "market perform" rating to an "outperform" rating and set a $36.00 price target for the company in a research report on Monday, April 21st. Finally, Wall Street Zen cut BBB Foods from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, BBB Foods has an average rating of "Hold" and an average price target of $33.17.

BBB Foods Price Performance

The company has a current ratio of 0.69, a quick ratio of 0.44 and a debt-to-equity ratio of 2.08. The company has a market cap of $2.92 billion, a PE ratio of -319.80, a P/E/G ratio of 11.30 and a beta of -0.02. The firm has a 50 day moving average of $26.19 and a two-hundred day moving average of $27.18.

BBB Foods (NYSE:TBBB - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.09). The firm had revenue of $1 billion for the quarter, compared to analysts' expectations of $17.98 billion. BBB Foods had a negative net margin of 0.19% and a negative return on equity of 3.07%. Research analysts predict that BBB Foods Inc. will post 0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BBB Foods

Several hedge funds and other institutional investors have recently modified their holdings of TBBB. Wasatch Advisors LP lifted its holdings in shares of BBB Foods by 314.6% during the 2nd quarter. Wasatch Advisors LP now owns 2,192,012 shares of the company's stock valued at $60,850,000 after buying an additional 1,663,338 shares during the period. Capital Research Global Investors raised its position in BBB Foods by 37.3% in the fourth quarter. Capital Research Global Investors now owns 5,330,214 shares of the company's stock worth $150,738,000 after acquiring an additional 1,448,093 shares during the period. 3G Capital Partners LP raised its position in BBB Foods by 328.6% in the second quarter. 3G Capital Partners LP now owns 1,500,000 shares of the company's stock worth $41,640,000 after acquiring an additional 1,150,000 shares during the period. Millennium Management LLC raised its position in BBB Foods by 942.8% in the first quarter. Millennium Management LLC now owns 1,240,966 shares of the company's stock worth $33,109,000 after acquiring an additional 1,121,959 shares during the period. Finally, Itau Unibanco Holding S.A. bought a new position in BBB Foods in the first quarter worth approximately $18,209,000. 8.42% of the stock is owned by institutional investors.

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.