Cidel Asset Management Inc. Invests $4.93 Million in BBB Foods Inc. $TBBB

Key Points

• Cidel Asset Management acquired 118,334 BBB Foods shares worth approximately $4.93 million, while several other institutional investors also increased or initiated positions. Institutional investors collectively own 8.42% of the company.
• BBB Foods reported quarterly revenue of $1.49 billion, exceeding estimates, but its adjusted loss of $0.19 per share missed expectations. Analysts project a full-year loss of $0.63 per share.
• The stock opened at $50.74, near its 52-week high of $51.62. Analyst sentiment remains a “Moderate Buy”, with an average price target of $48.12, although ratings range from Strong Buy to Sell.

Cidel Asset Management Inc. purchased a new position in BBB Foods Inc. (NYSE:TBBB - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 118,334 shares of the company's stock, valued at approximately $4,931,000. Cidel Asset Management Inc. owned about 0.10% of BBB Foods as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Orbis Allan Gray Ltd bought a new position in shares of BBB Foods during the 4th quarter valued at approximately $109,810,000. Principal Financial Group Inc. purchased a new stake in BBB Foods in the first quarter worth $65,967,000. Wasatch Advisors LP raised its stake in shares of BBB Foods by 314.6% in the second quarter. Wasatch Advisors LP now owns 2,192,012 shares of the company's stock valued at $60,850,000 after buying an additional 1,663,338 shares during the period. Duquesne Family Office LLC raised its stake in shares of BBB Foods by 228.1% in the third quarter. Duquesne Family Office LLC now owns 1,183,125 shares of the company's stock valued at $31,897,000 after buying an additional 822,575 shares during the period. Finally, Millennium Management LLC lifted its position in shares of BBB Foods by 296.5% during the 4th quarter. Millennium Management LLC now owns 778,613 shares of the company's stock valued at $25,998,000 after buying an additional 582,262 shares during the last quarter. Hedge funds and other institutional investors own 8.42% of the company's stock.

Insider Buying and Selling at BBB Foods

In related news, Director Sapire Rose Nicole Domin Reich sold 7,623 shares of the business's stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $50.50, for a total value of $384,961.50. Following the completion of the sale, the director owned 7,623 shares in the company, valued at $384,961.50. The trade was a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

BBB Foods Stock Up 2.0%

TBBB opened at $50.74 on Wednesday. The business's fifty day simple moving average is $44.27 and its 200 day simple moving average is $39.61. BBB Foods Inc. has a 52 week low of $23.81 and a 52 week high of $51.62. The company has a quick ratio of 0.44, a current ratio of 0.68 and a debt-to-equity ratio of 2.16. The stock has a market cap of $6.02 billion, a PE ratio of -31.52 and a beta of 0.05.

BBB Foods (NYSE:TBBB - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.03). BBB Foods had a negative return on equity of 72.47% and a negative net margin of 3.68%.The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.42 billion. As a group, research analysts expect that BBB Foods Inc. will post -0.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TBBB shares. Weiss Ratings reissued a "sell (d+)" rating on shares of BBB Foods in a report on Wednesday, June 24th. Citigroup began coverage on BBB Foods in a research report on Friday, July 31st. They set a "buy" rating and a $49.00 price target on the stock. Scotiabank reaffirmed an "outperform" rating and set a $65.00 price objective on shares of BBB Foods in a research note on Thursday, August 27th. JPMorgan Chase & Co. upped their target price on shares of BBB Foods from $46.00 to $48.00 and gave the stock an "overweight" rating in a report on Thursday, July 16th. Finally, Wall Street Zen upgraded shares of BBB Foods from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, BBB Foods currently has an average rating of "Moderate Buy" and an average price target of $48.12.

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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