Itau Unibanco Holding S.A. Purchases New Stake in BBB Foods Inc. $TBBB

Key Points

• Itau Unibanco Holding S.A. has purchased approximately 711,742 shares of BBB Foods Inc. for around $18.2 million, making it the bank's 28th largest position.
• Several institutional investors, including TT International Asset Management and VELA Investment Management, have also increased their stakes in BBB Foods during the first quarter, signaling growing interest in the company.
• BBB Foods recently reported an earnings miss with a loss of ($0.13) EPS and a revenue of $1 billion, which was significantly lower than analyst expectations of $17.98 billion.

Itau Unibanco Holding S.A. bought a new position in shares of BBB Foods Inc. (NYSE:TBBB - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 711,742 shares of the company's stock, valued at approximately $18,209,000. BBB Foods makes up 0.7% of Itau Unibanco Holding S.A.'s investment portfolio, making the stock its 28th biggest holding. Itau Unibanco Holding S.A. owned 0.62% of BBB Foods as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of TBBB. FNY Investment Advisers LLC bought a new stake in BBB Foods during the 1st quarter worth approximately $37,000. Caitong International Asset Management Co. Ltd grew its stake in shares of BBB Foods by 124.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,140 shares of the company's stock worth $57,000 after acquiring an additional 1,187 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of BBB Foods during the 1st quarter worth approximately $96,000. Toronto Dominion Bank bought a new position in shares of BBB Foods during the 4th quarter worth approximately $141,000. Finally, Blue Trust Inc. bought a new position in shares of BBB Foods during the 1st quarter worth approximately $212,000. 8.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

BBB Foods Stock Performance

Shares of BBB Foods stock traded up $0.27 during trading on Monday, reaching $26.73. The company's stock had a trading volume of 530,962 shares, compared to its average volume of 568,267. The business's 50-day moving average price is $26.11 and its 200-day moving average price is $26.99. The firm has a market cap of $3.05 billion, a PE ratio of -334.13, a P/E/G ratio of 4.77 and a beta of -0.01. BBB Foods Inc. has a 52 week low of $23.00 and a 52 week high of $35.22. 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 earnings results on Monday, August 11th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.09). The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $17.98 billion. BBB Foods had a negative net margin of 0.19% and a negative return on equity of 3.07%. Equities analysts forecast that BBB Foods Inc. will post 0.15 earnings per share 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.