BBB Foods (NYSE:TBBB) Hits New 52-Week High - What's Next?

Key Points

• BBB Foods shares reached a new 52-week high of $55.91, giving the company a market capitalization of approximately $6.57 billion.
• Analyst sentiment is broadly positive: seven analysts rate the stock Buy and three rate it Hold, producing a “Moderate Buy” consensus, though the $50.50 average price target is below the current price.
• The company exceeded revenue expectations with quarterly sales of $1.49 billion but missed on earnings, reporting a loss of $0.19 per share versus the expected $0.16 loss; profitability remained negative.

BBB Foods Inc. (NYSE:TBBB - Get Free Report) shares hit a new 52-week high on Monday. The company traded as high as $55.91 and last traded at $55.0550, with a volume of 53,339 shares trading hands. The stock had previously closed at $55.59.

Analyst Upgrades and Downgrades

TBBB has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of BBB Foods from $48.00 to $67.00 and gave the stock an "overweight" rating in a report on Thursday, September 10th. Weiss Ratings upgraded BBB Foods from a "sell (d+)" rating to a "hold (c)" rating in a research note on Thursday. Scotiabank restated an "outperform" rating and set a $65.00 price target on shares of BBB Foods in a research report on Thursday, August 27th. Zacks Research upgraded BBB Foods from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Finally, Citigroup reaffirmed a "buy" rating on shares of BBB Foods in a research note on Monday, September 14th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, BBB Foods presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.50.

BBB Foods Price Performance

The company has a market capitalization of $6.57 billion, a price-to-earnings ratio of -34.26 and a beta of 0.02. The company's 50 day simple moving average is $49.55 and its 200-day simple moving average is $42.48. The company has a current ratio of 0.68, a quick ratio of 0.44 and a debt-to-equity ratio of 2.16.

BBB Foods (NYSE:TBBB - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.03). The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.42 billion. BBB Foods had a negative net margin of 3.68% and a negative return on equity of 72.47%. On average, equities research analysts predict that BBB Foods Inc. will post -0.62 earnings per share for the current fiscal year.

Insider Activity at BBB Foods

In other BBB Foods news, Director Sapire Rose Nicole Domin Reich sold 7,623 shares of the firm's stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $51.00, for a total transaction of $388,773.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Hedge Funds Weigh In On BBB Foods

A number of institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. bought a new position in BBB Foods during the first quarter valued at approximately $65,967,000. Wasatch Advisors LP increased its stake in shares of BBB Foods by 20.3% during the first quarter. Wasatch Advisors LP now owns 4,099,825 shares of the company's stock valued at $145,011,000 after buying an additional 690,544 shares during the period. Carmignac Gestion raised its holdings in BBB Foods by 526.5% in the 2nd quarter. Carmignac Gestion now owns 670,106 shares of the company's stock worth $27,917,000 after purchasing an additional 563,141 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in BBB Foods in the second quarter worth about $10,630,000. Finally, Ancient Art L.P. lifted its stake in shares of BBB Foods by 183.1% in the 4th quarter. Ancient Art L.P. now owns 391,637 shares of the company's stock valued at $13,077,000 after purchasing an additional 253,320 shares during the period. 8.42% of the stock is owned by institutional investors and hedge funds.

BBB Foods Company Profile

BBB Foods Inc operates Tiendas 3B, a hard-discount grocery retail chain in Mexico. The company serves value-conscious consumers through small-format neighborhood stores focused on convenient locations, a streamlined shopping experience and everyday low prices.

Tiendas 3B stores offer a selection of essential grocery and household products, including packaged foods, beverages, personal-care items, cleaning supplies and other daily necessities. The assortment combines private-label merchandise with branded products, and certain locations also carry fresh or perishable goods.

BBB Foods was established to develop the hard-discount retail model in Mexico and has expanded its store network across the country, primarily in urban and suburban communities.

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