Carmignac Gestion Reduces Stock Holdings 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 trimmed its position in shares of BBB Foods Inc. (NYSE:TBBB - Free Report) by 40.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,000 shares of the company's stock after selling 10,000 shares during the quarter. 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 hedge funds have also recently bought and sold shares of TBBB. FNY Investment Advisers LLC purchased a new position in BBB Foods during the 1st quarter worth $37,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of BBB Foods by 124.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,140 shares of the company's stock worth $57,000 after buying an additional 1,187 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of BBB Foods in the 1st quarter worth about $96,000. Toronto Dominion Bank purchased a new stake in BBB Foods during the fourth quarter valued at about $141,000. Finally, Blue Trust Inc. purchased a new stake in BBB Foods during the first quarter valued at about $212,000. 8.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TBBB. UBS Group upped their price objective on shares of BBB Foods from $32.00 to $33.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Wall Street Zen cut shares of BBB Foods from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Finally, The Goldman Sachs Group upgraded shares of BBB Foods to a "hold" rating in a research report on Wednesday, July 9th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, BBB Foods presently has an average rating of "Hold" and an average target price of $33.60.

BBB Foods Trading Up 1.0%

Shares of BBB Foods stock traded up $0.27 on Monday, hitting $26.12. The stock had a trading volume of 326,211 shares, compared to its average volume of 771,971. The stock's 50-day simple moving average is $26.11 and its two-hundred day simple moving average is $27.05. BBB Foods Inc. has a one year low of $23.00 and a one year high of $35.22. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of -326.50, a PEG ratio of 11.76 and a beta of -0.02. The company has a quick ratio of 0.44, a current ratio of 0.69 and a debt-to-equity ratio of 2.08.

BBB Foods (NYSE:TBBB - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $1 billion during the quarter, compared to analysts' expectations of $17.98 billion. As a group, sell-side analysts predict that BBB Foods Inc. will post 0.15 EPS for the current year.

BBB Foods Company 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.