The Manufacturers Life Insurance Company Buys New Stake in BBB Foods Inc. $TBBB

Key Points

• The Manufacturers Life Insurance Company acquired 255,111 shares of BBB Foods in the second quarter, worth approximately $10.63 million and representing a 0.22% stake. Institutional investors and hedge funds collectively own 8.42% of the company.
• Analyst sentiment is generally positive: BBB Foods has a “Moderate Buy” consensus rating and a $50.50 average price target, with recent upgrades from HSBC and UBS.
• BBB Foods reported quarterly revenue of $1.49 billion, exceeding estimates, but missed earnings expectations with a loss of $0.19 per share. The stock recently traded near $50.45, close to its 12-month high of $52.22.

The Manufacturers Life Insurance Company bought a new position in BBB Foods Inc. (NYSE:TBBB - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 255,111 shares of the company's stock, valued at approximately $10,630,000. The Manufacturers Life Insurance Company owned 0.22% of BBB Foods at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in TBBB. Osaic Holdings Inc. bought a new position in shares of BBB Foods in the second quarter worth about $25,000. Larson Financial Group LLC boosted its stake in BBB Foods by 547.9% during 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. Smartleaf Asset Management LLC bought a new stake in BBB Foods during the 4th quarter valued at approximately $39,000. Caitong International Asset Management Co. Ltd acquired a new stake in BBB Foods in the 4th quarter valued at approximately $89,000. Finally, Global Retirement Partners LLC acquired a new stake in BBB Foods in the 4th quarter valued at approximately $136,000. 8.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. HSBC upgraded BBB Foods from a "hold" rating to a "buy" rating and upped their price target for the stock from $38.00 to $47.00 in a report on Wednesday, May 27th. Zacks Research upgraded shares of BBB Foods from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. Scotiabank reaffirmed an "outperform" rating and set a $65.00 target price on shares of BBB Foods in a research report on Thursday, August 27th. Wall Street Zen upgraded shares of BBB Foods from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Finally, UBS Group increased their price target on shares of BBB Foods from $51.00 to $58.00 and gave the company a "buy" rating in a report on Friday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $50.50.

BBB Foods Trading Down 1.7%

Shares of TBBB opened at $50.45 on Friday. The stock's 50-day moving average price is $44.82 and its 200 day moving average price is $39.88. The company has a quick ratio of 0.44, a current ratio of 0.68 and a debt-to-equity ratio of 2.16. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of -31.33 and a beta of 0.05. BBB Foods Inc. has a 12-month low of $23.81 and a 12-month high of $52.22.

BBB Foods (NYSE:TBBB - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.19) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.03). BBB Foods had a negative return on equity of 72.47% and a negative net margin of 3.68%.The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.42 billion. As a group, research analysts predict that BBB Foods Inc. will post -0.63 earnings per share for the current year.

Insider Activity at BBB Foods

In related news, Director Sapire Rose Nicole Domin Reich sold 7,623 shares of the company's stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $51.00, for a total value of $388,773.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

About BBB Foods

BBB Foods Inc is a Mexico-based discount retailer that operates under the Tiendas 3B brand. The company serves consumers through neighborhood stores offering everyday necessities at affordable prices, with a focus on convenience, value and accessible locations.

Tiendas 3B stores sell a range of groceries, household products, personal-care items and other frequently purchased consumer goods. The business emphasizes a hard-discount retail model, including a selection of private-label and branded products, streamlined store formats and cost-conscious operations.

BBB Foods was founded in Mexico and has expanded its store network across the country.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.