Driehaus Capital Management LLC Cuts Stock Holdings in BBB Foods Inc. $TBBB

Key Points

• Driehaus Capital Management LLC sold 45.8% of its holdings in BBB Foods Inc., reducing its ownership to 849,166 shares valued at $22.7 million.
• Analysts have mixed opinions on BBB Foods, with Goldman Sachs upgrading it to "hold" while UBS raised its target price to $33, and Wall Street Zen downgraded it to "sell."
• BBB Foods reported a loss of ($0.13) earnings per share for the last quarter, significantly below analyst expectations of ($0.04), while revenues were also far below forecasts at $1 billion.

Driehaus Capital Management LLC cut its stake in shares of BBB Foods Inc. (NYSE:TBBB - Free Report) by 45.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 849,166 shares of the company's stock after selling 718,119 shares during the period. Driehaus Capital Management LLC owned 0.74% of BBB Foods worth $22,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TBBB. Itau Unibanco Holding S.A. purchased a new stake in BBB Foods during the first quarter valued at approximately $18,209,000. Ameriprise Financial Inc. raised its position in BBB Foods by 73.2% during the 1st quarter. Ameriprise Financial Inc. now owns 1,634,417 shares of the company's stock valued at $43,606,000 after purchasing an additional 690,560 shares in the last quarter. TT International Asset Management LTD bought a new stake in BBB Foods during the 1st quarter valued at $15,261,000. Burkehill Global Management LP bought a new stake in BBB Foods during the 1st quarter valued at $9,338,000. 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 valued at $31,021,000 after purchasing an additional 231,589 shares in the last quarter. 8.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

BBB Foods Stock Performance

Shares of NYSE:TBBB traded up $0.06 during trading on Thursday, hitting $26.12. The stock had a trading volume of 102,768 shares, compared to its average volume of 758,389. BBB Foods Inc. has a 12-month low of $23.00 and a 12-month high of $35.22. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of -325.88, a price-to-earnings-growth ratio of 13.58 and a beta of -0.01. The company has a quick ratio of 0.44, a current ratio of 0.69 and a debt-to-equity ratio of 2.08. The stock has a 50-day simple moving average of $26.08 and a two-hundred day simple moving average of $26.97.

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 (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.09). BBB Foods had a negative return on equity of 3.07% and a negative net margin of 0.19%.The firm had revenue of $1 billion during the quarter, compared to analysts' expectations of $17.98 billion. On average, equities research analysts expect that BBB Foods Inc. will post 0.15 earnings per share for the current fiscal year.

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.