Deltec Asset Management LLC Makes New Investment in BBB Foods Inc. $TBBB

Key Points

• Deltec Asset Management acquired 44,500 shares of BBB Foods in the third quarter, valued at approximately $2.34 million. Several other hedge funds also initiated positions, though institutional ownership remains relatively low at 8.42%.
• Wall Street sentiment is positive, with seven analysts rating the stock a Buy and three issuing Hold ratings. The consensus rating is “Moderate Buy,” with a price target of $51.88, while JPMorgan and UBS recently raised their targets to $67 and $69, respectively.
• BBB Foods shares opened at $58.30, near their 52-week high of $59.60. The company exceeded quarterly revenue expectations with $1.49 billion but missed earnings estimates, reporting a loss of $0.19 per share.

Deltec Asset Management LLC acquired a new stake in BBB Foods Inc. (NYSE:TBBB - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 44,500 shares of the company's stock, valued at approximately $2,342,000.

Other hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC purchased a new position in BBB Foods during the 3rd quarter valued at about $27,000. GAMMA Investing LLC bought a new position in shares of BBB Foods during the third quarter valued at $43,000. Signaturefd LLC purchased a new stake in shares of BBB Foods during the third quarter valued at $53,000. Toth Financial Advisory Corp purchased a new stake in shares of BBB Foods during the 3rd quarter valued at about $142,000. Finally, AdvisorNet Financial Inc bought a new stake in BBB Foods in the 3rd quarter worth approximately $349,000. 8.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Sapire Rose Nicole Domin Reich sold 7,623 shares of the company's stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $51.00, for a total transaction of $388,773.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price target on BBB Foods from $48.00 to $67.00 and gave the company an "overweight" rating in a research note on Thursday, September 10th. Weiss Ratings upgraded shares of BBB Foods from a "sell (d+)" rating to a "hold (c)" rating in a research report on Thursday, October 8th. Scotiabank reiterated an "outperform" rating and set a $65.00 price objective on shares of BBB Foods in a research report on Thursday, August 27th. UBS Group increased their target price on shares of BBB Foods from $58.00 to $69.00 and gave the company a "buy" rating in a research note on Wednesday, October 21st. Finally, Citigroup reiterated a "buy" rating on shares of BBB Foods in a report on Monday, September 14th. Seven research 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, the stock has an average rating of "Moderate Buy" and a consensus price target of $51.88.

BBB Foods Stock Performance

Shares of NYSE:TBBB opened at $58.30 on Tuesday. The company has a debt-to-equity ratio of 2.16, a current ratio of 0.68 and a quick ratio of 0.44. BBB Foods Inc. has a 52 week low of $25.84 and a 52 week high of $59.60. The firm has a 50 day moving average of $52.39 and a 200 day moving average of $41.28.

BBB Foods (NYSE:TBBB - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.03). BBB Foods had a negative net margin of 3.68% and a negative return on equity of 72.47%. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.42 billion. Equities research analysts predict that BBB Foods Inc. will post -0.62 earnings per share for the current fiscal year.

About BBB Foods

BBB Foods Inc operates Tiendas 3B, a hard-discount grocery retail chain in Mexico. Its stores focus on everyday consumer essentials, including food, beverages, household products and personal-care items, offered primarily through a combination of private-label and selected national-brand products.

The company's business model emphasizes a limited assortment, compact store formats and value-oriented pricing. Tiendas 3B stores primarily serve communities in Mexico, with a presence concentrated in the country's central and southern regions.

BBB Foods was founded in 2004 and is led by Anthony Hatoum, who serves as the company's chief executive officer.

Want to see what other hedge funds are holding TBBB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BBB Foods Inc. (NYSE:TBBB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.