Bronte Capital Management Pty Ltd. Buys New Holdings in BBB Foods Inc. $TBBB

Key Points

• Bronte Capital Management bought 394,158 shares of BBB Foods (~$13.16M) in Q4, making the holding about 1.4% of Bronte’s portfolio while the firm owns roughly 0.35% of BBB Foods overall.
• Analysts are mixed — the stock has an average rating of "Hold" with an average price target of $42.50, though UBS and JPMorgan recently raised targets to $43 and $46 respectively and Morgan Stanley upgraded to overweight.
• BBB Foods reported a quarterly EPS miss (−$0.49 vs. −$0.27 expected) and negative profitability metrics, yet the shares trade around $38 (1‑year high $40.09) with a market cap of about $4.45B.

Bronte Capital Management Pty Ltd. bought a new stake in BBB Foods Inc. (NYSE:TBBB - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 394,158 shares of the company's stock, valued at approximately $13,161,000. BBB Foods comprises about 1.4% of Bronte Capital Management Pty Ltd.'s portfolio, making the stock its 15th biggest holding. Bronte Capital Management Pty Ltd. owned 0.35% of BBB Foods as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in BBB Foods by 92.5% in the fourth quarter. Farther Finance Advisors LLC now owns 824 shares of the company's stock valued at $28,000 after acquiring an additional 396 shares during the last quarter. Osaic Holdings Inc. acquired a new position in shares of BBB Foods during the second quarter worth about $25,000. Larson Financial Group LLC lifted its stake in shares of BBB Foods by 547.9% during the third quarter. Larson Financial Group LLC now owns 1,056 shares of the company's stock worth $28,000 after purchasing an additional 893 shares in the last quarter. Toth Financial Advisory Corp lifted its stake in shares of BBB Foods by 29.0% during the fourth quarter. Toth Financial Advisory Corp now owns 1,600 shares of the company's stock worth $53,000 after purchasing an additional 360 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in shares of BBB Foods by 26.1% during the third quarter. Jones Financial Companies Lllp now owns 2,869 shares of the company's stock worth $75,000 after purchasing an additional 593 shares in the last quarter. Institutional investors and hedge funds own 8.42% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. UBS Group boosted their price objective on BBB Foods from $31.00 to $43.00 and gave the stock a "neutral" rating in a research note on Friday, February 20th. Weiss Ratings restated a "sell (d+)" rating on shares of BBB Foods in a research note on Friday, March 27th. JPMorgan Chase & Co. boosted their price objective on BBB Foods from $44.00 to $46.00 and gave the stock an "overweight" rating in a research note on Monday, April 20th. Morgan Stanley upgraded BBB Foods to an "overweight" rating in a research note on Wednesday, January 28th. Finally, Wells Fargo & Company set a $42.00 price objective on BBB Foods in a research note on Friday, March 13th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $42.50.

BBB Foods Stock Up 5.6%

Shares of NYSE TBBB opened at $38.12 on Wednesday. BBB Foods Inc. has a 1 year low of $23.81 and a 1 year high of $40.09. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of -28.88 and a beta of 0.02. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.35 and a current ratio of 0.62. The stock's 50-day simple moving average is $35.55 and its 200-day simple moving average is $33.73.

BBB Foods (NYSE:TBBB - Get Free Report) last announced its earnings results on Wednesday, March 11th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.22). BBB Foods had a negative return on equity of 70.80% and a negative net margin of 3.72%.The business had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.24 billion. As a group, equities analysts anticipate that BBB Foods Inc. will post -0.57 earnings per share for the current fiscal year.

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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