Carmignac Gestion Reduces Stock Position in BBB Foods Inc. $TBBB

Key Points

• Carmignac Gestion has reduced its stake in BBB Foods Inc. by 40%, now holding 15,000 shares as a result of selling 10,000 shares during the first quarter.
• Despite the reduction in holdings, other institutional investors have increased their positions in BBB Foods, with notable acquisitions from firms like FNY Investment Advisers and Toronto Dominion Bank.
• BBB Foods reported a loss per share of ($0.13) for the last quarter, missing analysts' estimates, and its stock currently has a consensus rating of "Hold" with a target price of $33.17.

Carmignac Gestion cut its stake in BBB Foods Inc. (NYSE:TBBB - Free Report) by 40.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,000 shares of the company's stock after selling 10,000 shares during the period. Carmignac Gestion's holdings in BBB Foods were worth $400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. FNY Investment Advisers LLC purchased a new position in BBB Foods in the first quarter worth approximately $37,000. Caitong International Asset Management Co. Ltd lifted its stake in BBB Foods by 124.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 2,140 shares of the company's stock worth $57,000 after purchasing an additional 1,187 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of BBB Foods in the first quarter valued at $96,000. Toronto Dominion Bank acquired a new stake in shares of BBB Foods in the fourth quarter valued at $141,000. Finally, Blue Trust Inc. acquired a new stake in shares of BBB Foods in the first quarter valued at $212,000. 8.42% of the stock is currently owned by hedge funds and other institutional investors.

BBB Foods Price Performance

Shares of NYSE:TBBB opened at $25.6550 on Wednesday. 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 company has a market cap of $2.93 billion, a P/E ratio of -320.69, a PEG ratio of 11.58 and a beta of -0.02. BBB Foods Inc. has a 52 week low of $23.00 and a 52 week high of $35.22. The company has a 50-day moving average price of $26.16 and a 200 day moving average price of $27.13.

BBB Foods (NYSE:TBBB - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.09). The firm 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%. Research analysts predict that BBB Foods Inc. will post 0.15 earnings per share for the current year.

Analysts Set New Price Targets

TBBB has been the topic of a number of analyst reports. UBS Group raised 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 lowered BBB Foods from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Finally, The Goldman Sachs Group raised BBB Foods to a "hold" rating in a report on Wednesday, July 9th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, BBB Foods currently has a consensus rating of "Hold" and an average target price of $33.17.

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.

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