BBB Foods Inc. $TBBB Shares Acquired by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Key Points

• Institutional ownership increased: Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its BBB Foods stake by 64.3% in the first quarter, while several other hedge funds also increased their positions. Institutional investors now hold about 8.42% of the company.
• Shares slipped despite recent gains: BBB Foods stock was down 2.0% on the day, opening at $41.72, though it remains near its 52-week high of $43.81.
• Mixed fundamentals and analyst views: The company missed earnings per share estimates in its latest quarter but slightly beat revenue expectations. Analysts are split overall, with an average rating of Hold and an average price target of $43.14.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of BBB Foods Inc. (NYSE:TBBB - Free Report) by 64.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 371,642 shares of the company's stock after acquiring an additional 145,412 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.32% of BBB Foods worth $13,145,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of TBBB. Goldman Sachs Group Inc. lifted its stake in shares of BBB Foods by 276.8% in the 1st 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 during the last quarter. Qube Research & Technologies Ltd raised its holdings in BBB Foods by 48.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 285,206 shares of the company's stock valued at $7,917,000 after buying an additional 92,989 shares during the period. Sei Investments Co. lifted its position in BBB Foods by 57.7% in the second 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 stake in BBB Foods by 0.3% during the second quarter. The Manufacturers Life Insurance Company now owns 705,005 shares of the company's stock worth $19,571,000 after buying an additional 2,434 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of BBB Foods by 32.3% during 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 acquiring an additional 41,979 shares during the last quarter. Hedge funds and other institutional investors own 8.42% of the company's stock.

BBB Foods Stock Down 2.0%

BBB Foods stock opened at $41.72 on Tuesday. The stock has a market cap of $4.95 billion, a PE ratio of -26.92 and a beta of -0.02. The company has a debt-to-equity ratio of 2.76, a current ratio of 0.60 and a quick ratio of 0.35. The stock's fifty day moving average is $39.42 and its two-hundred day moving average is $36.79. BBB Foods Inc. has a 1-year low of $23.81 and a 1-year high of $43.81.

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

Analyst Upgrades and Downgrades

TBBB has been the subject of a number of research analyst reports. HSBC upgraded BBB Foods from a "hold" rating to a "buy" rating and raised their target price for the company from $38.00 to $47.00 in a report on Wednesday, May 27th. Scotiabank boosted their price target on shares of BBB Foods from $37.00 to $48.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 5th. Weiss Ratings reissued a "sell (d+)" rating on shares of BBB Foods in a research report on Wednesday, June 24th. Zacks Research lowered shares of BBB Foods from a "hold" rating to a "strong sell" rating in a research note on Monday, March 23rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of BBB Foods from $44.00 to $46.00 and gave the company an "overweight" rating in a research note on Monday, April 20th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $43.14.

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

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