The Manufacturers Life Insurance Company Buys 154,929 Shares of BBB Foods Inc. $TBBB

Key Points

• The Manufacturers Life Insurance Company increased its stake in BBB Foods Inc. by 28.3%, acquiring an additional 154,929 shares, bringing its total ownership to 702,571 shares valued at approximately $18.7 million.
• Analyst reports show mixed ratings for BBB Foods, with Wall Street Zen downgrading the stock from "hold" to "sell," while UBS Group raised its target price from $32 to $33.
• BBB Foods reported a quarterly loss of ($0.13) earnings per share, missing estimates, and had revenue of $1 billion, significantly lower than the $17.98 billion consensus forecast.

The Manufacturers Life Insurance Company increased its stake in BBB Foods Inc. (NYSE:TBBB - Free Report) by 28.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 702,571 shares of the company's stock after buying an additional 154,929 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.62% of BBB Foods worth $18,745,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Tempus Wealth Planning LLC lifted its position in BBB Foods by 4.7% in the first quarter. Tempus Wealth Planning LLC now owns 12,703 shares of the company's stock worth $339,000 after buying an additional 571 shares during the last quarter. J.Safra Asset Management Corp lifted its position in BBB Foods by 6.4% in the first quarter. J.Safra Asset Management Corp now owns 10,925 shares of the company's stock worth $291,000 after buying an additional 661 shares during the last quarter. Verdence Capital Advisors LLC lifted its position in BBB Foods by 15.3% in the first quarter. Verdence Capital Advisors LLC now owns 8,566 shares of the company's stock worth $229,000 after buying an additional 1,136 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in BBB Foods by 124.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 2,140 shares of the company's stock worth $57,000 after buying an additional 1,187 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in BBB Foods in the first quarter worth $37,000. 8.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TBBB has been the subject of a number of analyst reports. Wall Street Zen downgraded BBB Foods from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. UBS Group lifted their target price on BBB Foods from $32.00 to $33.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Finally, The Goldman Sachs Group upgraded BBB Foods to a "hold" rating in a research report on Wednesday, July 9th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $33.60.

BBB Foods Stock Down 1.1%

NYSE:TBBB opened at $26.60 on Wednesday. BBB Foods Inc. has a twelve month low of $23.00 and a twelve month high of $35.22. The company has a market cap of $3.04 billion, a price-to-earnings ratio of -332.51, a price-to-earnings-growth ratio of 13.58 and a beta of -0.01. The stock has a fifty day simple moving average of $26.11 and a 200-day simple moving average of $26.98. The company has a current ratio of 0.69, a quick ratio of 0.44 and a debt-to-equity ratio of 2.08.

BBB Foods (NYSE:TBBB - Get Free Report) last released its earnings results on Monday, August 11th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.09). BBB Foods had a negative return on equity of 3.07% and a negative net margin of 0.19%.The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $17.98 billion. Analysts anticipate that BBB Foods Inc. will post 0.15 EPS 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.

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