334,172 Shares in BBB Foods Inc. $TBBB Acquired by Ninety One North America Inc.

Key Points

• Ninety One North America acquired 334,172 shares of BBB Foods in the third quarter, valued at approximately $17.6 million and representing a 0.28% stake. Institutional investors collectively own 8.42% of the company.
• Analysts remain generally bullish, with seven Buy ratings and three Holds. BBB Foods has a “Moderate Buy” consensus rating and an average price target of $50.50, while JPMorgan recently raised its target to $67.
• BBB Foods shares rose 0.1% to $56.42, near their 52-week high of $57.30. The company exceeded revenue expectations with $1.49 billion in quarterly revenue but missed adjusted EPS estimates, reporting a loss of $0.19 per share.

Ninety One North America Inc. acquired a new position in BBB Foods Inc. (NYSE:TBBB - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 334,172 shares of the company's stock, valued at approximately $17,591,000. Ninety One North America Inc. owned 0.28% of BBB Foods as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TBBB. Farther Finance Advisors LLC acquired a new position in shares of BBB Foods in the 3rd quarter valued at $27,000. GAMMA Investing LLC purchased a new position in shares of BBB Foods during the 3rd quarter worth $43,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of BBB Foods during the 4th quarter worth about $89,000. Toth Financial Advisory Corp acquired a new stake in shares of BBB Foods during the 3rd quarter worth about $142,000. Finally, Royal Bank of Canada increased its position in shares of BBB Foods by 19.6% during the 1st quarter. Royal Bank of Canada now owns 11,415 shares of the company's stock worth $404,000 after purchasing an additional 1,874 shares during the last quarter. Institutional investors and hedge funds own 8.42% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on TBBB shares. JPMorgan Chase & Co. upped their target price on shares of BBB Foods from $48.00 to $67.00 and gave the company an "overweight" rating in a research report on Thursday, September 10th. Zacks Research upgraded shares of BBB Foods from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Scotiabank reiterated an "outperform" rating and set a $65.00 price target on shares of BBB Foods in a research report on Thursday, August 27th. Citigroup reissued a "buy" rating on shares of BBB Foods in a research note on Monday, September 14th. Finally, UBS Group boosted their price target on shares of BBB Foods from $51.00 to $58.00 and gave the company a "buy" rating in a research note on Friday, August 28th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $50.50.

Insiders Place Their Bets

In other BBB Foods news, Director Sapire Rose Nicole Domin Reich sold 7,623 shares of the business's stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $51.00, for a total transaction of $388,773.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

BBB Foods Trading Up 0.1%

Shares of NYSE TBBB traded up $0.06 during trading on Thursday, reaching $56.42. The stock had a trading volume of 391,872 shares, compared to its average volume of 665,855. BBB Foods Inc. has a fifty-two week low of $25.84 and a fifty-two week high of $57.30. The company has a debt-to-equity ratio of 2.16, a quick ratio of 0.44 and a current ratio of 0.68. The business's 50-day moving average price is $50.40 and its 200-day moving average price is $42.95. The company has a market cap of $6.69 billion, a P/E ratio of -35.06 and a beta of 0.02.

BBB Foods (NYSE:TBBB - Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.03). BBB Foods had a negative return on equity of 72.47% and a negative net margin of 3.68%. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.42 billion. On average, equities research analysts predict that BBB Foods Inc. will post -0.62 EPS for the current fiscal year.

BBB Foods Company Profile

BBB Foods Inc operates Tiendas 3B, a hard-discount grocery retail chain in Mexico. The company serves value-conscious consumers through small-format neighborhood stores focused on convenient locations, a streamlined shopping experience and everyday low prices.

Tiendas 3B stores offer a selection of essential grocery and household products, including packaged foods, beverages, personal-care items, cleaning supplies and other daily necessities. The assortment combines private-label merchandise with branded products, and certain locations also carry fresh or perishable goods.

BBB Foods was established to develop the hard-discount retail model in Mexico and has expanded its store network across the country, primarily in urban and suburban communities.

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