BBB Foods (NYSE:TBBB) Shares Up 8.8% - Here's Why

BBB Foods Inc. (NYSE:TBBB - Get Free Report) rose 8.8% during mid-day trading on Tuesday . The stock traded as high as $26.82 and last traded at $26.60. Approximately 1,223,327 shares changed hands during mid-day trading, an increase of 65% from the average daily volume of 741,423 shares. The stock had previously closed at $24.45.

Wall Street Analyst Weigh In

TBBB has been the subject of several recent research reports. Scotiabank set a $37.00 price target on BBB Foods and gave the company an "outperform" rating in a report on Friday, April 11th. UBS Group increased their price target on BBB Foods from $32.00 to $33.00 and gave the company 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 report on Monday, April 21st. Finally, The Goldman Sachs Group upgraded BBB Foods to a "hold" rating in a research note on Wednesday, July 9th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $33.29.

BBB Foods Stock Down 0.6%

The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 119.40 and a beta of 0.02. The stock has a 50 day moving average of $27.69 and a 200 day moving average of $27.86. The company has a quick ratio of 0.49, a current ratio of 0.74 and a debt-to-equity ratio of 1.93.

BBB Foods (NYSE:TBBB - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.10). BBB Foods had a net margin of 0.85% and a return on equity of 13.08%. The company had revenue of $838.41 million during the quarter, compared to analyst estimates of $836.80 million. As a group, analysts expect 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 bought and sold shares of the stock. 12 West Capital Management LP bought a new stake in shares of BBB Foods during the fourth quarter valued at approximately $48,544,000. Capital Research Global Investors raised its holdings in shares of BBB Foods by 37.3% during the fourth quarter. Capital Research Global Investors now owns 5,330,214 shares of the company's stock valued at $150,738,000 after buying an additional 1,448,093 shares during the last quarter. Millennium Management LLC raised its holdings in shares of BBB Foods by 942.8% during the first quarter. Millennium Management LLC now owns 1,240,966 shares of the company's stock valued at $33,109,000 after buying an additional 1,121,959 shares during the last quarter. FMR LLC raised its holdings in shares of BBB Foods by 33.6% during the fourth quarter. FMR LLC now owns 3,494,773 shares of the company's stock valued at $98,832,000 after buying an additional 878,003 shares during the last quarter. Finally, Itau Unibanco Holding S.A. bought a new stake in BBB Foods during the first quarter worth approximately $18,209,000. 8.42% of the stock is currently owned by institutional investors and hedge funds.

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.