Kayne Anderson Rudnick Investment Management LLC Boosts Stock Holdings in BBB Foods Inc. $TBBB

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its stake in BBB Foods Inc. by 41.8%, owning a total of 366,508 shares worth approximately $9.78 million.
• Despite a recent stock price opening at $26.05, BBB Foods reported a disappointing quarterly earnings miss, with a loss of ($0.13) earnings per share against an expectation of ($0.04).
• Wall Street analysts have mixed opinions on BBB Foods, with a consensus rating of "Hold" and an average price target increase to $33.60.

Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of BBB Foods Inc. (NYSE:TBBB - Free Report) by 41.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 366,508 shares of the company's stock after purchasing an additional 108,005 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.32% of BBB Foods worth $9,778,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of TBBB. Mariner LLC purchased a new position in BBB Foods during the fourth quarter worth approximately $611,000. The Manufacturers Life Insurance Company raised its stake in BBB Foods by 0.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 547,642 shares of the company's stock worth $15,487,000 after purchasing an additional 1,960 shares during the period. Alyeska Investment Group L.P. raised its stake in BBB Foods by 1.6% during the fourth quarter. Alyeska Investment Group L.P. now owns 107,739 shares of the company's stock worth $3,047,000 after purchasing an additional 1,655 shares during the period. Ameriprise Financial Inc. raised its stake in BBB Foods by 146.1% during the fourth quarter. Ameriprise Financial Inc. now owns 943,857 shares of the company's stock worth $26,692,000 after purchasing an additional 560,280 shares during the period. Finally, Driehaus Capital Management LLC raised its stake in BBB Foods by 17.4% during the fourth quarter. Driehaus Capital Management LLC now owns 1,567,285 shares of the company's stock worth $44,323,000 after purchasing an additional 232,443 shares during the period. Hedge funds and other institutional investors own 8.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TBBB shares. UBS Group increased 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. The Goldman Sachs Group raised shares of BBB Foods to a "hold" rating in a research note on Wednesday, July 9th. Finally, Wall Street Zen downgraded shares of BBB Foods from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, BBB Foods has a consensus rating of "Hold" and an average price target of $33.60.

BBB Foods Stock Performance

Shares of TBBB stock opened at $26.05 on Tuesday. The company's fifty day simple moving average is $26.10 and its 200-day simple moving average is $27.04. BBB Foods Inc. has a 52 week low of $23.00 and a 52 week high of $35.22. The company has a current ratio of 0.69, a quick ratio of 0.44 and a debt-to-equity ratio of 2.08. The company has a market cap of $2.97 billion, a PE ratio of -325.63, a P/E/G ratio of 11.76 and a beta of -0.02.

BBB Foods (NYSE:TBBB - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.13) earnings per share 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 firm had revenue of $1 billion for the quarter, compared to analyst estimates of $17.98 billion. As a group, equities research analysts anticipate that BBB Foods Inc. will post 0.15 EPS for the current 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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.