BBB Foods (NYSE:TBBB) Shares Down 5.9% - Here's Why

Key Points

• BBB Foods Inc. (NYSE:TBBB) shares dropped by 5.9%, trading as low as $25.75, with a significant decrease in trading volume of 84% from its average.
• Recent analyst ratings show a mix of opinions, with UBS Group raising the price target to $33 and Wall Street Zen downgrading the stock to a "sell" rating.
• The company reported a loss of $0.13 EPS, missing estimates, and had a revenue of $1 billion, significantly below the analyst expectation of $17.98 billion.

Shares of BBB Foods Inc. (NYSE:TBBB - Get Free Report) dropped 5.9% on Wednesday . The stock traded as low as $25.75 and last traded at $25.37. Approximately 114,924 shares were traded during trading, a decline of 84% from the average daily volume of 729,373 shares. The stock had previously closed at $26.96.

Wall Street Analyst Weigh In

TBBB has been the subject of several recent research reports. UBS Group lifted their price target on BBB Foods from $32.00 to $33.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Wall Street Zen cut BBB Foods from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Finally, The Goldman Sachs Group upgraded BBB Foods to a "hold" rating in a research report on Wednesday, July 9th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.75.

BBB Foods Price Performance

The company has a quick ratio of 0.44, a current ratio of 0.69 and a debt-to-equity ratio of 2.08. The stock has a market capitalization of $2.85 billion, a PE ratio of -312.06 and a beta of -0.01. The company has a 50-day moving average of $25.96 and a 200 day moving average of $26.96.

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

Hedge Funds Weigh In On BBB Foods

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TBBB. Wasatch Advisors LP boosted its stake in BBB Foods by 314.6% during the second quarter. Wasatch Advisors LP now owns 2,192,012 shares of the company's stock worth $60,850,000 after buying an additional 1,663,338 shares during the last quarter. 3G Capital Partners LP boosted its stake in BBB Foods by 328.6% during the second quarter. 3G Capital Partners LP now owns 1,500,000 shares of the company's stock worth $41,640,000 after buying an additional 1,150,000 shares during the last quarter. Millennium Management LLC boosted its stake in BBB Foods by 942.8% during the first quarter. Millennium Management LLC now owns 1,240,966 shares of the company's stock worth $33,109,000 after buying an additional 1,121,959 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in BBB Foods during the first quarter worth $18,209,000. Finally, Ameriprise Financial Inc. boosted its stake in BBB Foods by 73.2% during the first quarter. Ameriprise Financial Inc. now owns 1,634,417 shares of the company's stock worth $43,606,000 after buying an additional 690,560 shares during the last quarter. Institutional investors and hedge funds own 8.42% of the company's stock.

About BBB Foods

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.

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