BBB Foods Inc. $TBBB Shares Purchased by Carmignac Gestion

Key Points

• Carmignac Gestion increased its BBB Foods position by 526.5% in the second quarter, acquiring 563,141 additional shares and ending with 670,106 shares valued at approximately $27.9 million. Institutional investors collectively own 8.42% of the company.
• BBB Foods shares rose 2% to $50.74, near the stock’s 12-month high of $51.62. The company exceeded revenue expectations with $1.49 billion in quarterly sales but missed earnings estimates, reporting a loss of $0.19 per share.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $48.12, though one director recently sold 7,623 shares at an average price of $50.50.

Carmignac Gestion raised its position in BBB Foods Inc. (NYSE:TBBB - Free Report) by 526.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 670,106 shares of the company's stock after purchasing an additional 563,141 shares during the period. Carmignac Gestion owned 0.57% of BBB Foods worth $27,917,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of TBBB. VELA Investment Management LLC raised its position in shares of BBB Foods by 6.4% in the second quarter. VELA Investment Management LLC now owns 41,600 shares of the company's stock valued at $1,733,000 after buying an additional 2,500 shares during the last quarter. Wasatch Advisors LP lifted its stake in BBB Foods by 3.4% in the 2nd quarter. Wasatch Advisors LP now owns 4,239,474 shares of the company's stock worth $176,659,000 after purchasing an additional 139,649 shares in the last quarter. Militia Capital Management LLC purchased a new position in BBB Foods in the 1st quarter worth approximately $1,734,000. Royal Bank of Canada boosted its holdings in shares of BBB Foods by 19.6% during the 1st quarter. Royal Bank of Canada now owns 11,415 shares of the company's stock worth $404,000 after purchasing an additional 1,874 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in shares of BBB Foods by 12.4% during the 1st quarter. Lazard Asset Management LLC now owns 63,744 shares of the company's stock worth $2,255,000 after purchasing an additional 7,032 shares during the last quarter. Hedge funds and other institutional investors own 8.42% of the company's stock.

BBB Foods Trading Up 2.0%

NYSE:TBBB traded up $0.97 on Tuesday, reaching $50.74. The company's stock had a trading volume of 555,322 shares, compared to its average volume of 660,560. BBB Foods Inc. has a 12-month low of $23.81 and a 12-month high of $51.62. The company has a quick ratio of 0.44, a current ratio of 0.68 and a debt-to-equity ratio of 2.16. The firm has a market cap of $6.02 billion, a price-to-earnings ratio of -31.52 and a beta of 0.05. The stock has a 50 day moving average price of $44.09 and a 200 day moving average price of $39.52.

BBB Foods (NYSE:TBBB - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.03). The business had revenue of $1.49 billion for the quarter, compared to analysts' expectations of $1.42 billion. BBB Foods had a negative return on equity of 72.47% and a negative net margin of 3.68%. On average, equities analysts anticipate that BBB Foods Inc. will post -0.63 EPS for the current fiscal year.

Insider Activity

In other news, Director Sapire Rose Nicole Domin Reich sold 7,623 shares of the firm's stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $50.50, for a total value of $384,961.50. Following the completion of the transaction, the director owned 7,623 shares of the company's stock, valued at approximately $384,961.50. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Analyst Ratings Changes

Several equities research analysts recently commented on TBBB shares. Wall Street Zen raised BBB Foods from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Citigroup started coverage on BBB Foods in a report on Friday, July 31st. They set a "buy" rating and a $49.00 price target on the stock. Weiss Ratings reissued a "sell (d+)" rating on shares of BBB Foods in a research report on Wednesday, June 24th. UBS Group upped their price objective on shares of BBB Foods from $51.00 to $58.00 and gave the company a "buy" rating in a report on Friday, August 28th. Finally, JPMorgan Chase & Co. raised their price objective on shares of BBB Foods from $46.00 to $48.00 and gave the stock an "overweight" rating in a research report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, BBB Foods currently has a consensus rating of "Moderate Buy" and an average target price of $48.12.

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.

Want to see what other hedge funds are holding TBBB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BBB Foods Inc. (NYSE:TBBB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.