Itau Unibanco Holding S.A. Buys New Position 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 stake in shares of BBB Foods Inc. (NYSE:TBBB - Free Report) in the first quarter, according to its most recent 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 accounts for approximately 0.7% of Itau Unibanco Holding S.A.'s portfolio, making the stock its 28th biggest holding. Itau Unibanco Holding S.A. owned about 0.62% of BBB Foods as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. FNY Investment Advisers LLC bought a new stake in BBB Foods during the first quarter worth about $37,000. Caitong International Asset Management Co. Ltd raised its position 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 valued at $57,000 after buying an additional 1,187 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of BBB Foods in the 1st quarter valued at approximately $96,000. Toronto Dominion Bank acquired a new position in shares of BBB Foods in the 4th quarter valued at approximately $141,000. Finally, Blue Trust Inc. acquired a new position in shares of BBB Foods in the 1st quarter valued at approximately $212,000. Institutional investors own 8.42% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Wall Street Zen cut shares of BBB Foods from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. UBS Group boosted their price target on BBB Foods from $32.00 to $33.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. 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 three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $33.60.

BBB Foods Trading Down 1.3%

Shares of NYSE TBBB traded down $0.35 during trading on Tuesday, reaching $26.55. The company had a trading volume of 76,512 shares, compared to its average volume of 762,710. The company's fifty day moving average price is $26.11 and its 200-day moving average price is $26.98. BBB Foods Inc. has a 12 month low of $23.00 and a 12 month high of $35.22. The stock has a market cap of $3.03 billion, a P/E ratio of -331.88, a PEG ratio of 4.77 and a beta of -0.01. 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 released 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 net margin of 0.19% and a negative return on equity of 3.07%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $17.98 billion. As a group, research analysts expect that BBB Foods Inc. will post 0.15 earnings per share for the current year.

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.