BBB Foods (NYSE:TBBB) Shares Up 4.1% - Here's Why

BBB Foods Inc. (NYSE:TBBB - Get Free Report) rose 4.1% during trading on Wednesday . The stock traded as high as $27.52 and last traded at $27.78. Approximately 44,721 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 746,652 shares. The stock had previously closed at $26.67.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Itau BBA Securities upgraded shares of BBB Foods from a "market perform" rating to an "outperform" rating and set a $36.00 price target on the stock in a research note on Monday, April 21st. Scotiabank set a $37.00 target price on BBB Foods and gave the company an "outperform" rating in a research report on Friday, April 11th. Finally, UBS Group increased their price objective on shares of BBB Foods from $32.00 to $33.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, BBB Foods presently has a consensus rating of "Hold" and an average target price of $34.00.

BBB Foods Stock Performance

The firm has a fifty day moving average price of $28.48 and a 200 day moving average price of $28.15. The firm has a market capitalization of $3.11 billion, a PE ratio of 123.60 and a beta of 0.16. The company has a debt-to-equity ratio of 1.93, a current ratio of 0.74 and a quick ratio of 0.49.

BBB Foods (NYSE:TBBB - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.10). The firm had revenue of $838.41 million for the quarter, compared to analysts' expectations of $836.80 million. BBB Foods had a net margin of 0.85% and a return on equity of 13.08%. Research analysts anticipate that BBB Foods Inc. will post 0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BBB Foods

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. J.Safra Asset Management Corp lifted its holdings in shares of BBB Foods by 204.7% in the fourth quarter. J.Safra Asset Management Corp now owns 10,264 shares of the company's stock valued at $293,000 after purchasing an additional 6,895 shares in the last quarter. Barings LLC grew its stake in BBB Foods by 375.0% in the fourth quarter. Barings LLC now owns 37,959 shares of the company's stock valued at $1,073,000 after purchasing an additional 29,968 shares in the last quarter. Picton Mahoney Asset Management increased its holdings in BBB Foods by 13.5% in the fourth quarter. Picton Mahoney Asset Management now owns 29,400 shares of the company's stock worth $831,000 after buying an additional 3,500 shares during the last quarter. William Blair Investment Management LLC raised its position in BBB Foods by 8.8% during the fourth quarter. William Blair Investment Management LLC now owns 2,118,138 shares of the company's stock valued at $59,901,000 after acquiring an additional 170,811 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. lifted its stake in BBB Foods by 33.7% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 32,574 shares of the company's stock valued at $921,000 after acquiring an additional 8,207 shares during the last quarter. Institutional investors and hedge funds 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.

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