VELA Investment Management LLC Buys 10,000 Shares of BBB Foods Inc. (NYSE:TBBB)

VELA Investment Management LLC raised its stake in shares of BBB Foods Inc. (NYSE:TBBB - Free Report) by 66.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,000 shares of the company's stock after buying an additional 10,000 shares during the quarter. VELA Investment Management LLC's holdings in BBB Foods were worth $667,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TBBB. 12 West Capital Management LP purchased a new position in BBB Foods during the 4th quarter valued at about $48,544,000. Capital Research Global Investors grew its holdings in BBB Foods by 37.3% during the 4th 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 in the last quarter. FMR LLC grew 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 worth $98,832,000 after purchasing an additional 878,003 shares in the last quarter. TT International Asset Management LTD purchased a new position in shares of BBB Foods during the first quarter worth about $15,261,000. Finally, Ameriprise Financial Inc. grew its holdings in shares of BBB Foods by 146.1% during the fourth quarter. Ameriprise Financial Inc. now owns 943,857 shares of the company's stock worth $26,692,000 after purchasing an additional 560,280 shares in the last quarter. Hedge funds and other institutional investors own 8.42% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TBBB. The Goldman Sachs Group began coverage on BBB Foods in a report on Tuesday. They set a "neutral" rating for the company. UBS Group boosted their price objective on BBB Foods from $32.00 to $33.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Itau BBA Securities raised BBB Foods from a "market perform" rating to an "outperform" rating and set a $36.00 price objective for the company in a report on Monday, April 21st. Finally, Scotiabank set a $37.00 price objective on BBB Foods and gave the stock an "outperform" rating in a report on Friday, April 11th. Five research 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, the company currently has an average rating of "Hold" and an average price target of $34.00.

BBB Foods Price Performance

NYSE:TBBB traded down $0.63 during mid-day trading on Tuesday, reaching $25.76. The stock had a trading volume of 544,372 shares, compared to its average volume of 738,497. The firm has a 50 day moving average price of $28.39 and a two-hundred day moving average price of $28.03. The stock has a market capitalization of $2.94 billion, a P/E ratio of 117.10 and a beta of 0.02. BBB Foods Inc. has a one year low of $23.00 and a one year high of $35.22. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.49 and a current ratio of 0.74.

BBB Foods (NYSE:TBBB - Get Free Report) last released its earnings results 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 firm had revenue of $838.41 million during the quarter, compared to the consensus estimate of $836.80 million. BBB Foods had a return on equity of 13.08% and a net margin of 0.85%. As a group, analysts expect that BBB Foods Inc. will post 0.15 earnings per share for the current year.

BBB Foods 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.