Zweig DiMenna Associates LLC Reduces Stock Holdings in BBB Foods Inc. (NYSE:TBBB)

Key Points

• Zweig DiMenna Associates LLC has decreased its stake in BBB Foods Inc. by 34.8%, holding 258,766 shares valued at approximately $6.9 million after selling 137,875 shares in the first quarter.
• Several institutional investors have increased their holdings in BBB Foods, including Ameriprise Financial Inc., which raised its stake by 146.1% during the fourth quarter.
• Analysts currently give BBB Foods an average rating of "Hold" with a price target of $33.29, despite a disappointing earnings report where the company missed consensus estimates by $0.10.

Zweig DiMenna Associates LLC decreased its stake in BBB Foods Inc. (NYSE:TBBB - Free Report) by 34.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 258,766 shares of the company's stock after selling 137,875 shares during the quarter. Zweig DiMenna Associates LLC owned about 0.23% of BBB Foods worth $6,904,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TBBB. 12 West Capital Management LP bought a new stake in shares of BBB Foods during the 4th quarter worth approximately $48,544,000. Capital Research Global Investors lifted its stake in shares of BBB Foods by 37.3% during the 4th quarter. Capital Research Global Investors now owns 5,330,214 shares of the company's stock worth $150,738,000 after acquiring an additional 1,448,093 shares during the last quarter. FMR LLC lifted its stake in shares of BBB Foods by 33.6% during the 4th quarter. FMR LLC now owns 3,494,773 shares of the company's stock worth $98,832,000 after acquiring an additional 878,003 shares during the last quarter. TT International Asset Management LTD bought a new stake in shares of BBB Foods during the 1st quarter worth approximately $15,261,000. Finally, Ameriprise Financial Inc. lifted its stake in shares of BBB Foods by 146.1% during the 4th quarter. Ameriprise Financial Inc. now owns 943,857 shares of the company's stock worth $26,692,000 after acquiring an additional 560,280 shares during the last quarter. Hedge funds and other institutional investors own 8.42% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TBBB shares. The Goldman Sachs Group raised BBB Foods to a "hold" rating in a research report on Wednesday, July 9th. Itau BBA Securities raised BBB Foods from a "market perform" rating to an "outperform" rating and set a $36.00 target price for the company in a research report on Monday, April 21st. UBS Group lifted their target price on BBB Foods from $32.00 to $33.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Finally, Scotiabank set a $37.00 target price on BBB Foods and gave the company an "outperform" rating in a research report on Friday, April 11th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, BBB Foods presently has an average rating of "Hold" and an average price target of $33.29.

BBB Foods Stock Performance

NYSE TBBB opened at $25.67 on Friday. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 116.70 and a beta of 0.02. BBB Foods Inc. has a twelve month low of $23.00 and a twelve month high of $35.22. The company has a current ratio of 0.74, a quick ratio of 0.49 and a debt-to-equity ratio of 1.93. The stock has a 50-day moving average of $27.35 and a 200 day moving average of $27.73.

BBB Foods (NYSE:TBBB - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.10). The business had revenue of $838.41 million during the quarter, compared to analyst estimates of $836.80 million. BBB Foods had a return on equity of 13.08% and a net margin of 0.85%. Sell-side analysts anticipate that BBB Foods Inc. will post 0.15 EPS for the current fiscal 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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