BBB Foods Inc. $TBBB Stake Reduced by Axiom Investors LLC DE

Key Points

• Axiom Investors LLC DE reduced its stake in BBB Foods Inc. by 45.5%, selling 420,941 shares and retaining a total of 503,627 shares valued at $13.4 million.
• Several institutional investors increased their holdings in BBB Foods, with Caitong International Asset Management increasing its stake by a substantial 124.6% in the first quarter.
• Wall Street analysts have mixed ratings for BBB Foods, with a consensus "Hold" rating and a price target of $33.60, while the company recently reported a loss of ($0.13) EPS against expectations.

Axiom Investors LLC DE lowered its stake in shares of BBB Foods Inc. (NYSE:TBBB - Free Report) by 45.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 503,627 shares of the company's stock after selling 420,941 shares during the quarter. Axiom Investors LLC DE owned approximately 0.44% of BBB Foods worth $13,437,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Ameriprise Financial Inc. boosted its holdings in BBB Foods by 73.2% in the first quarter. Ameriprise Financial Inc. now owns 1,634,417 shares of the company's stock worth $43,606,000 after purchasing an additional 690,560 shares during the period. TT International Asset Management LTD acquired a new position in BBB Foods in the first quarter worth $15,261,000. Burkehill Global Management LP acquired a new position in BBB Foods in the first quarter worth $9,338,000. Driehaus Capital Management LLC boosted 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 worth $44,323,000 after purchasing an additional 232,443 shares during the period. Finally, Teacher Retirement System of Texas boosted its holdings in BBB Foods by 24.9% in the first 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 period. Institutional investors and hedge funds own 8.42% of the company's stock.

BBB Foods Stock Performance

Shares of NYSE TBBB traded up $1.26 during midday trading on Wednesday, reaching $26.09. 497,239 shares of the company traded hands, compared to its average volume of 770,419. BBB Foods Inc. has a 52 week low of $23.00 and a 52 week high of $35.22. The stock has a 50-day moving average price of $26.09 and a 200 day moving average price of $27.01. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.69 and a quick ratio of 0.44. The company has a market cap of $2.98 billion, a price-to-earnings ratio of -326.09, a PEG ratio of 11.84 and a beta of -0.02.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. The Goldman Sachs Group raised shares of BBB Foods to a "hold" rating in a report on Wednesday, July 9th. UBS Group raised their target price on BBB Foods from $32.00 to $33.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Finally, Wall Street Zen cut BBB Foods from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, BBB Foods currently has an average rating of "Hold" and an average price target of $33.60.

BBB Foods 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.