Atika Capital Management LLC Trims Holdings in BBB Foods Inc. $TBBB

Key Points

• Atika Capital Management LLC reduced its holdings in BBB Foods Inc. by 17.2%, now owning about 182,827 shares valued at $4.88 million.
• Analysts have mixed views on BBB Foods, with Goldman Sachs upgrading the rating to "hold" and Wall Street Zen downgrading it to "sell"; the consensus target price is $33.17.
• BBB Foods reported a quarterly loss of ($0.13) earnings per share, significantly missing estimates, with revenues of only $1 billion compared to expectations of $17.98 billion.

Atika Capital Management LLC trimmed its position in shares of BBB Foods Inc. (NYSE:TBBB - Free Report) by 17.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 182,827 shares of the company's stock after selling 37,873 shares during the period. Atika Capital Management LLC owned approximately 0.16% of BBB Foods worth $4,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. TT International Asset Management LTD purchased a new stake in shares of BBB Foods during the 1st quarter worth approximately $15,261,000. Entropy Technologies LP purchased a new stake in shares of BBB Foods during the 1st quarter worth approximately $461,000. VELA Investment Management LLC raised its holdings in shares of BBB Foods by 66.7% during the 1st quarter. VELA Investment Management LLC now owns 25,000 shares of the company's stock worth $667,000 after acquiring an additional 10,000 shares in the last quarter. Deutsche Bank AG purchased a new stake in shares of BBB Foods during the 4th quarter worth approximately $311,000. Finally, Burkehill Global Management LP purchased a new stake in shares of BBB Foods during the 1st quarter worth approximately $9,338,000. 8.42% of the stock is owned by hedge funds and other institutional investors.

BBB Foods Trading Down 3.5%

TBBB stock traded down $0.91 during midday trading on Tuesday, reaching $25.12. The company's stock had a trading volume of 175,799 shares, compared to its average volume of 769,579. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.44 and a current ratio of 0.69. The stock has a fifty day simple moving average of $26.10 and a two-hundred day simple moving average of $27.04. BBB Foods Inc. has a 1 year low of $23.00 and a 1 year high of $35.22. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of -313.94, a PEG ratio of 11.76 and a beta of -0.02.

BBB Foods (NYSE:TBBB - Get Free Report) last released its earnings results on Monday, August 11th. The company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $1 billion during the quarter, compared to analysts' expectations of $17.98 billion. On average, equities research analysts predict that BBB Foods Inc. will post 0.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TBBB shares. Wall Street Zen downgraded BBB Foods from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. UBS Group boosted their target price on BBB Foods from $32.00 to $33.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Finally, The Goldman Sachs Group raised 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 three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $33.60.

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.