Russell Investments Group Ltd. Has $1.23 Million Holdings in BBB Foods Inc. $TBBB

Key Points

• Russell Investments Group Ltd. reduced its position in BBB Foods Inc. by 60.3%, selling 69,709 shares during the first quarter.
• BBB Foods reported a quarterly loss of ($0.13) EPS, missing analysts' estimates, while its revenue was significantly lower than expected at $1 billion.
• The stock has an average target price of $33.60 with current ratings reflecting a cautious outlook from analysts, including downgrades and upgrades from various brokerages.

Russell Investments Group Ltd. cut its holdings in shares of BBB Foods Inc. (NYSE:TBBB - Free Report) by 60.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,935 shares of the company's stock after selling 69,709 shares during the period. Russell Investments Group Ltd.'s holdings in BBB Foods were worth $1,226,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in TBBB. TT International Asset Management LTD acquired a new position in BBB Foods in the 1st quarter valued at approximately $15,261,000. Ameriprise Financial Inc. grew its stake in shares of BBB Foods by 146.1% in 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 during the last quarter. Burkehill Global Management LP acquired a new stake in BBB Foods in the first quarter valued at $9,338,000. Driehaus Capital Management LLC increased its holdings in BBB Foods by 17.4% in the fourth quarter. Driehaus Capital Management LLC now owns 1,567,285 shares of the company's stock valued at $44,323,000 after purchasing an additional 232,443 shares during the period. Finally, Teacher Retirement System of Texas raised its position in BBB Foods by 24.9% during the 1st quarter. Teacher Retirement System of Texas now owns 1,162,695 shares of the company's stock worth $31,021,000 after purchasing an additional 231,589 shares during the last quarter. 8.42% of the stock is owned by institutional investors.

BBB Foods Stock Down 2.3%

Shares of BBB Foods stock traded down $0.63 during trading on Wednesday, reaching $26.02. 29,172 shares of the company traded hands, compared to its average volume of 759,580. The firm has a market capitalization of $2.97 billion, a PE ratio of -324.00, a P/E/G ratio of 13.58 and a beta of -0.01. BBB Foods Inc. has a 1-year low of $23.00 and a 1-year high of $35.22. The company has a 50 day moving average price of $26.11 and a 200-day moving average price of $26.98. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.69 and a quick ratio of 0.44.

BBB Foods (NYSE:TBBB - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.09). The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $17.98 billion. BBB Foods had a negative net margin of 0.19% and a negative return on equity of 3.07%. As a group, equities research analysts expect that BBB Foods Inc. will post 0.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TBBB has been the subject of several recent research reports. Wall Street Zen cut BBB Foods from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. The Goldman Sachs Group upgraded BBB Foods to a "hold" rating in a report on Wednesday, July 9th. Finally, UBS Group raised their price target on shares of BBB Foods from $32.00 to $33.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, BBB Foods currently has an average rating of "Hold" and an average 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.