Bank of America Corp DE trimmed its position in BBB Foods Inc. (NYSE:TBBB - Free Report) by 50.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 370,412 shares of the company's stock after selling 372,872 shares during the period. Bank of America Corp DE owned approximately 0.32% of BBB Foods worth $13,101,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of TBBB. Goldman Sachs Group Inc. grew its stake in BBB Foods by 276.8% in the first quarter. Goldman Sachs Group Inc. now owns 156,526 shares of the company's stock valued at $4,176,000 after purchasing an additional 114,990 shares in the last quarter. Qube Research & Technologies Ltd raised its stake in shares of BBB Foods by 48.4% during the 2nd quarter. Qube Research & Technologies Ltd now owns 285,206 shares of the company's stock worth $7,917,000 after purchasing an additional 92,989 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of BBB Foods by 57.7% in the 2nd quarter. Sei Investments Co. now owns 417,794 shares of the company's stock valued at $11,598,000 after buying an additional 152,883 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of BBB Foods by 0.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 705,005 shares of the company's stock valued at $19,571,000 after buying an additional 2,434 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of BBB Foods by 32.3% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 171,979 shares of the company's stock valued at $4,774,000 after buying an additional 41,979 shares in the last quarter. 8.42% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have recently weighed in on TBBB. Citigroup started coverage on BBB Foods in a research report on Friday, July 31st. They set a "buy" rating and a $49.00 target price for the company. JPMorgan Chase & Co. lifted their target price on BBB Foods from $46.00 to $48.00 and gave the company an "overweight" rating in a research report on Thursday, July 16th. Scotiabank upped their price objective on shares of BBB Foods from $37.00 to $48.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 5th. Zacks Research raised shares of BBB Foods from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. Finally, Wall Street Zen upgraded shares of BBB Foods from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, BBB Foods has a consensus rating of "Moderate Buy" and a consensus target price of $45.12.
Read Our Latest Report on TBBB
BBB Foods Stock Performance
Shares of TBBB stock opened at $50.70 on Friday. The company has a debt-to-equity ratio of 2.16, a current ratio of 0.68 and a quick ratio of 0.44. The company has a market cap of $6.01 billion and a P/E ratio of -31.49. BBB Foods Inc. has a one year low of $23.81 and a one year high of $51.03. The firm has a 50-day moving average of $42.42 and a 200-day moving average of $38.62.
BBB Foods (NYSE:TBBB - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.03). The company had revenue of $1.49 billion for the quarter, compared to analysts' expectations of $1.42 billion. BBB Foods had a negative return on equity of 72.47% and a negative net margin of 3.68%. Equities research analysts forecast that BBB Foods Inc. will post -0.61 EPS for the current fiscal year.
About BBB Foods
(
Free Report)
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. The company also provides branded, private label, and spot products. It serves low-to-middle income households through online channels.
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