JPMorgan Chase & Co. Sells 462,174 Shares of BBB Foods Inc. $TBBB

Key Points

• JPMorgan Chase cut its stake in BBB Foods by 57.6%, selling 462,174 shares and now holds 340,729 shares (about 0.30% of the company) valued at roughly $9.19 million.
• BBB Foods missed Q3 estimates, reporting EPS of $-0.49 versus $-0.27 expected and revenue of $1.22B versus $1.24B, while showing weak profitability (ROE -70.8%, net margin -3.72%) and high leverage (debt/equity 2.61).
• Analysts are mixed with a consensus rating of "Hold" and a $39.50 target; price targets range roughly from $34 to $43 and ratings include Buy, Hold and Sell.

JPMorgan Chase & Co. lessened its position in shares of BBB Foods Inc. (NYSE:TBBB - Free Report) by 57.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 340,729 shares of the company's stock after selling 462,174 shares during the period. JPMorgan Chase & Co. owned approximately 0.30% of BBB Foods worth $9,186,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Osaic Holdings Inc. bought a new position in shares of BBB Foods during the second quarter worth approximately $25,000. Larson Financial Group LLC boosted its stake in BBB Foods by 547.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,056 shares of the company's stock valued at $28,000 after purchasing an additional 893 shares during the period. Toth Financial Advisory Corp bought a new stake in BBB Foods in the 3rd quarter valued at $33,000. Elevation Point Wealth Partners LLC acquired a new position in BBB Foods in the 2nd quarter valued at $72,000. Finally, Jones Financial Companies Lllp grew its holdings in BBB Foods by 26.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,869 shares of the company's stock valued at $75,000 after buying an additional 593 shares in the last quarter. Institutional investors and hedge funds own 8.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TBBB shares. Weiss Ratings reiterated a "sell (d+)" rating on shares of BBB Foods in a research report on Monday, December 29th. UBS Group upped their price target on shares of BBB Foods from $31.00 to $43.00 and gave the company a "neutral" rating in a research note on Friday, February 20th. Wells Fargo & Company set a $42.00 price target on shares of BBB Foods in a research report on Friday, March 13th. Zacks Research cut shares of BBB Foods from a "hold" rating to a "strong sell" rating in a research note on Monday, March 23rd. Finally, The Goldman Sachs Group boosted their price objective on shares of BBB Foods from $30.00 to $34.00 and gave the company a "neutral" rating in a report on Thursday, December 18th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, BBB Foods has a consensus rating of "Hold" and a consensus target price of $39.50.

BBB Foods Stock Performance

NYSE TBBB opened at $34.33 on Monday. The firm's 50 day simple moving average is $35.35 and its 200 day simple moving average is $31.79. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of -26.01 and a beta of -0.16. The company has a current ratio of 0.62, a quick ratio of 0.35 and a debt-to-equity ratio of 2.61. BBB Foods Inc. has a 1 year low of $23.81 and a 1 year high of $40.09.

BBB Foods (NYSE:TBBB - Get Free Report) last released its earnings results on Wednesday, March 11th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.22). The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.24 billion. BBB Foods had a negative return on equity of 70.80% and a negative net margin of 3.72%. As a group, research analysts expect that BBB Foods Inc. will post 0.15 earnings per share for the current fiscal year.

BBB Foods 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. The company also provides branded, private label, and spot products. It serves low-to-middle income households through online channels.

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