JPMorgan Chase & Co. Boosts BBB Foods (NYSE:TBBB) Price Target to $39.00

Key Points

• JPMorgan Chase & Co. raised its price target for BBB Foods (TBBB) from $35.50 to $39.00, suggesting a potential upside of 36.55% from the stock's previous close.
• Analyst ratings for BBB Foods show mixed sentiments, with three analysts rating it as a Buy, three as Hold, and one as Sell, leading to a consensus rating of "Hold".
• BBB Foods experienced a trading increase of 5.8%, reaching $28.56 during mid-day trading, while the company's recent earnings report revealed a miss in EPS estimates.

BBB Foods (NYSE:TBBB - Get Free Report) had its price objective lifted by JPMorgan Chase & Co. from $35.50 to $39.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 36.55% from the stock's previous close.

A number of other analysts have also commented on the stock. The Goldman Sachs Group raised shares of BBB Foods to a "hold" rating in a research note on Wednesday, July 9th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of BBB Foods in a research note on Wednesday, October 8th. Zacks Research raised shares of BBB Foods from a "strong sell" rating to a "hold" rating in a research note on Friday, October 10th. Finally, Wall Street Zen lowered shares of BBB Foods from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, BBB Foods currently has a consensus rating of "Hold" and an average target price of $34.80.

BBB Foods Trading Up 5.8%

TBBB stock traded up $1.56 during mid-day trading on Monday, reaching $28.56. 560,681 shares of the stock traded hands, compared to its average volume of 726,089. 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 has a 52-week low of $23.00 and a 52-week high of $35.22. The company has a market cap of $3.26 billion, a P/E ratio of -357.01 and a beta of -0.03. The stock's fifty day moving average is $25.98 and its 200-day moving average is $26.89.

BBB Foods (NYSE:TBBB - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.13) EPS 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 analysts' expectations of $17.98 billion. As a group, sell-side analysts expect that BBB Foods will post 0.15 earnings per share for the current year.

Institutional Trading of BBB Foods

A number of hedge funds have recently made changes to their positions in TBBB. Jump Financial LLC acquired a new stake in BBB Foods in the first quarter valued at approximately $2,284,000. Deutsche Bank AG lifted its stake in BBB Foods by 104.5% in the first quarter. Deutsche Bank AG now owns 22,500 shares of the company's stock valued at $600,000 after acquiring an additional 11,500 shares during the last quarter. Entropy Technologies LP acquired a new stake in BBB Foods in the first quarter valued at approximately $461,000. Goldman Sachs Group Inc. lifted its stake in BBB Foods by 276.8% in the first quarter. Goldman Sachs Group Inc. now owns 156,526 shares of the company's stock valued at $4,176,000 after acquiring an additional 114,990 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in BBB Foods by 73.2% in the first quarter. Ameriprise Financial Inc. now owns 1,634,417 shares of the company's stock valued at $43,606,000 after acquiring an additional 690,560 shares during the last quarter. 8.42% of the stock is owned by hedge funds and other institutional investors.

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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