BBB Foods (NYSE:TBBB) Hits New 52-Week High – Here’s What Happened

Shares of BBB Foods Inc. (NYSE:TBBB) reached a new 52-week high on Friday . The stock traded as high as $33.90 and last traded at $33.4660, with a volume of 86969 shares. The stock had previously closed at $33.35.

Wall Street Analyst Weigh In

TBBB has been the topic of several recent analyst reports. Zacks Research cut BBB Foods from a “hold” rating to a “strong sell” rating in a research report on Monday, November 10th. JPMorgan Chase & Co. raised their price target on shares of BBB Foods from $35.50 to $39.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of BBB Foods in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, BBB Foods presently has a consensus rating of “Hold” and an average target price of $34.80.

BBB Foods Stock Performance

The company has a market cap of $3.77 billion, a P/E ratio of -39.29 and a beta of -0.15. The company has a quick ratio of 0.39, a current ratio of 0.65 and a debt-to-equity ratio of 2.21. The business has a fifty day simple moving average of $28.40 and a two-hundred day simple moving average of $27.25.

BBB Foods (NYSE:TBBB) last released its quarterly earnings results on Wednesday, November 19th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.23). BBB Foods had a negative net margin of 2.61% and a negative return on equity of 44.56%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. On average, sell-side analysts anticipate that BBB Foods Inc. will post 0.15 EPS for the current year.

Institutional Investors Weigh In On BBB Foods

A number of hedge funds have recently modified their holdings of the business. Bank of Nova Scotia bought a new position in BBB Foods in the 1st quarter worth $213,000. Deutsche Bank AG raised its stake in shares of BBB Foods by 104.5% in the first quarter. Deutsche Bank AG now owns 22,500 shares of the company’s stock worth $600,000 after buying an additional 11,500 shares during the period. Entropy Technologies LP purchased a new position in shares of BBB Foods during the 1st quarter valued at about $461,000. Burkehill Global Management LP bought a new position in shares of BBB Foods during the 1st quarter valued at approximately $9,338,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in BBB Foods by 124.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 2,140 shares of the company’s stock valued at $57,000 after purchasing an additional 1,187 shares in the last quarter. Institutional investors own 8.42% of the company’s stock.

BBB Foods Company Profile

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.