BBB Foods Inc. $TBBB is Engle Capital Management L.P.'s 3rd Largest Position

Key Points

• Engle Capital Management reduced its BBB Foods stake by 4.7% to 715,000 shares, but the position still represents 8.6% of its portfolio and remains its third-largest holding.
• Other institutional investors increased their positions, including Goldman Sachs, Qube Research, and Sei Investments; institutional ownership now stands at 8.42%.
• Analyst sentiment is mixed: BBB Foods has a consensus “Hold” rating and a $43.43 price target. The stock recently traded at $40.54, while the company missed quarterly EPS expectations despite reporting $1.28 billion in revenue.

Engle Capital Management L.P. decreased its stake in shares of BBB Foods Inc. (NYSE:TBBB - Free Report) by 4.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 715,000 shares of the company's stock after selling 35,000 shares during the period. BBB Foods makes up 8.6% of Engle Capital Management L.P.'s investment portfolio, making the stock its 3rd largest holding. Engle Capital Management L.P. owned approximately 0.61% of BBB Foods worth $25,290,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of TBBB. Goldman Sachs Group Inc. lifted its holdings in BBB Foods by 276.8% in the first quarter. Goldman Sachs Group Inc. now owns 156,526 shares of the company's stock worth $4,176,000 after buying an additional 114,990 shares during the period. Qube Research & Technologies Ltd grew its holdings 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 acquiring an additional 92,989 shares during the period. Sei Investments Co. grew its holdings in shares of BBB Foods by 57.7% during the 2nd quarter. Sei Investments Co. now owns 417,794 shares of the company's stock worth $11,598,000 after acquiring an additional 152,883 shares during the period. The Manufacturers Life Insurance Company raised its position 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 worth $19,571,000 after acquiring an additional 2,434 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of BBB Foods by 32.3% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 171,979 shares of the company's stock worth $4,774,000 after acquiring an additional 41,979 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 research firms recently weighed in on TBBB. HSBC upgraded BBB Foods from a "hold" rating to a "buy" rating and lifted their price target for the company from $38.00 to $47.00 in a research report on Wednesday, May 27th. Scotiabank increased their price objective on BBB Foods from $37.00 to $48.00 and gave the stock an "outperform" rating in a report on Tuesday, May 5th. Zacks Research raised BBB Foods from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Wall Street Zen upgraded shares of BBB Foods from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of BBB Foods in a research report on Wednesday, June 24th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, BBB Foods currently has a consensus rating of "Hold" and a consensus price target of $43.43.

BBB Foods Price Performance

TBBB stock opened at $40.54 on Tuesday. The firm has a 50 day moving average price of $40.14 and a 200-day moving average price of $37.23. BBB Foods Inc. has a 52-week low of $23.81 and a 52-week high of $43.81. The firm has a market capitalization of $4.81 billion, a price-to-earnings ratio of -26.15 and a beta of -0.02. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.35 and a current ratio of 0.60.

BBB Foods (NYSE:TBBB - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.03). BBB Foods had a negative return on equity of 79.86% and a negative net margin of 3.95%.The company had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.27 billion. Equities research analysts forecast that BBB Foods Inc. will post -0.61 EPS for the current fiscal year.

BBB Foods Company 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. The company also provides branded, private label, and spot products. It serves low-to-middle income households through online channels.

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