Millennium Management LLC Has $33.11 Million Stock Position in BBB Foods Inc. $TBBB

Key Points

• Millennium Management LLC significantly increased its stake in BBB Foods Inc. by 942.8%, acquiring over 1.2 million shares, bringing its total ownership to 1.09% valued at $33.1 million.
• BBB Foods reported a loss of ($0.13) earnings per share for the last quarter, missing analysts' expectations of ($0.04) by a wide margin, and had revenues of $1 billion against an expectation of $17.98 billion.
• Recent analyst ratings suggest a mixed outlook for BBB Foods, with price targets ranging from $32.00 to $33.00 and a consensus rating of "Moderate Buy".

Millennium Management LLC lifted its holdings in shares of BBB Foods Inc. (NYSE:TBBB - Free Report) by 942.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,240,966 shares of the company's stock after acquiring an additional 1,121,959 shares during the quarter. Millennium Management LLC owned approximately 1.09% of BBB Foods worth $33,109,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in TBBB. Banque Transatlantique SA bought a new position in shares of BBB Foods during the 1st quarter worth approximately $25,000. FNY Investment Advisers LLC bought a new position in shares of BBB Foods during the 1st quarter worth approximately $37,000. Caitong International Asset Management Co. Ltd boosted its stake in BBB Foods by 124.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,140 shares of the company's stock valued at $57,000 after purchasing an additional 1,187 shares during the period. Summit Securities Group LLC bought a new stake in BBB Foods in the 1st quarter valued at $96,000. Finally, Toronto Dominion Bank bought a new stake in BBB Foods in the 4th quarter valued at $141,000. 8.42% of the stock is currently owned by institutional investors.

BBB Foods Price Performance

NYSE TBBB traded down $0.03 during midday trading on Tuesday, hitting $26.12. The company had a trading volume of 253,317 shares, compared to its average volume of 456,589. The company has a market capitalization of $2.98 billion, a PE ratio of -326.50 and a beta of -0.01. The company has a current ratio of 0.69, a quick ratio of 0.44 and a debt-to-equity ratio of 2.08. The firm has a 50-day moving average price of $25.86 and a 200-day moving average price of $26.87. BBB Foods Inc. has a twelve month low of $23.00 and a twelve month high of $35.22.

BBB Foods (NYSE:TBBB - Get Free Report) last announced its quarterly earnings data 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 analyst estimates 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, analysts anticipate that BBB Foods Inc. will post 0.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on TBBB. UBS Group boosted their price target on BBB Foods from $32.00 to $33.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Wall Street Zen downgraded BBB Foods from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Finally, The Goldman Sachs Group upgraded BBB Foods to a "hold" rating in a research note on Wednesday, July 9th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $33.75.

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.