Barings LLC Trims Holdings in BBB Foods Inc. (NYSE:TBBB)

Key Points

• Barings LLC has reduced its stake in BBB Foods Inc. by 56.6%, now holding 16,458 shares valued at approximately $439,000.
• Several other hedge funds have also adjusted their positions, with Atika Capital Management increasing its stake by 21.3% and FMR LLC increasing by 33.6%.
• BBB Foods' stock has seen changes in analyst ratings, with Wall Street Zen downgrading the stock from "hold" to "sell," and Scotiabank setting a $37.00 price target with an "outperform" rating.

Barings LLC lowered its holdings in BBB Foods Inc. (NYSE:TBBB - Free Report) by 56.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,458 shares of the company's stock after selling 21,501 shares during the quarter. Barings LLC's holdings in BBB Foods were worth $439,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Tempus Wealth Planning LLC grew its position in BBB Foods by 4.7% during the first quarter. Tempus Wealth Planning LLC now owns 12,703 shares of the company's stock valued at $339,000 after buying an additional 571 shares during the period. J.Safra Asset Management Corp grew its position in BBB Foods by 6.4% during the first quarter. J.Safra Asset Management Corp now owns 10,925 shares of the company's stock valued at $291,000 after buying an additional 661 shares during the period. Verdence Capital Advisors LLC grew its position in BBB Foods by 15.3% during the first quarter. Verdence Capital Advisors LLC now owns 8,566 shares of the company's stock valued at $229,000 after buying an additional 1,136 shares during the period. FNY Investment Advisers LLC acquired a new stake in BBB Foods during the first quarter valued at $37,000. Finally, Alyeska Investment Group L.P. grew its position in BBB Foods by 1.6% during the fourth quarter. Alyeska Investment Group L.P. now owns 107,739 shares of the company's stock valued at $3,047,000 after buying an additional 1,655 shares during the period. Institutional investors and hedge funds own 8.42% of the company's stock.

BBB Foods Trading Down 1.6%

Shares of TBBB traded down $0.40 during trading on Wednesday, reaching $24.31. 713,557 shares of the company traded hands, compared to its average volume of 791,594. BBB Foods Inc. has a twelve month low of $23.00 and a twelve month high of $35.22. The stock has a market cap of $2.78 billion, a PE ratio of 110.51 and a beta of -0.02. The stock has a 50-day simple moving average of $26.57 and a 200-day simple moving average of $27.44. 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 announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.10). The business had revenue of $838.41 million during the quarter, compared to analyst estimates of $836.80 million. BBB Foods had a net margin of 0.85% and a return on equity of 13.08%. On average, analysts anticipate that BBB Foods Inc. will post 0.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

TBBB has been the topic of several analyst reports. 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 report on Monday, April 21st. Scotiabank set a $37.00 price objective on shares of BBB Foods and gave the company an "outperform" rating in a report on Friday, April 11th. 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. Wall Street Zen downgraded shares of BBB Foods from a "hold" rating to a "sell" rating in a report on Saturday. Finally, The Goldman Sachs Group raised shares of BBB Foods to a "hold" rating in a report on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $33.29.

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.