Brokerages Set BBB Foods Inc. (NYSE:TBBB) Price Target at $43.14

BBB Foods Inc. (NYSE:TBBB) has received a consensus rating of “Hold” from the nine research firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $43.1429.

A number of research analysts have recently commented on TBBB shares. Wall Street Zen upgraded shares of BBB Foods from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of BBB Foods in a research note on Wednesday, June 24th. Zacks Research cut shares of BBB Foods from a “hold” rating to a “strong sell” rating in a report on Monday, March 23rd. HSBC raised shares of BBB Foods from a “hold” rating to a “buy” rating and raised their target price for the company from $38.00 to $47.00 in a research report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of BBB Foods from $44.00 to $46.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th.

BBB Foods Trading Up 2.4%

NYSE:TBBB traded up $0.99 during mid-day trading on Friday, hitting $42.64. 724,196 shares of the stock traded hands, compared to its average volume of 546,861. The stock has a market capitalization of $5.06 billion, a price-to-earnings ratio of -27.51 and a beta of -0.02. The firm’s 50 day moving average is $39.32 and its two-hundred day moving average is $36.73. BBB Foods has a 52 week low of $23.81 and a 52 week high of $43.81. The company has a quick ratio of 0.35, a current ratio of 0.60 and a debt-to-equity ratio of 2.76.

BBB Foods (NYSE:TBBB) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.03). BBB Foods had a negative return on equity of 79.86% and a negative net margin of 3.95%.The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. On average, equities research analysts predict that BBB Foods will post -0.61 earnings per share for the current year.

Hedge Funds Weigh In On BBB Foods

Several institutional investors and hedge funds have recently bought and sold shares of the company. Orbis Allan Gray Ltd purchased a new position in BBB Foods during the 4th quarter worth $109,810,000. Principal Financial Group Inc. acquired a new stake in BBB Foods in the first quarter worth about $65,967,000. Wasatch Advisors LP boosted its holdings in BBB Foods by 314.6% in the second quarter. Wasatch Advisors LP now owns 2,192,012 shares of the company’s stock worth $60,850,000 after acquiring an additional 1,663,338 shares in the last quarter. 12 West Capital Management LP grew its stake in shares of BBB Foods by 39.8% during the third quarter. 12 West Capital Management LP now owns 3,382,770 shares of the company’s stock worth $91,199,000 after acquiring an additional 963,712 shares during the last quarter. Finally, Duquesne Family Office LLC grew its stake in shares of BBB Foods by 228.1% during the third quarter. Duquesne Family Office LLC now owns 1,183,125 shares of the company’s stock worth $31,897,000 after acquiring an additional 822,575 shares during the last quarter. 8.42% of the stock is owned by hedge funds and other institutional investors.

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. The company also provides branded, private label, and spot products. It serves low-to-middle income households through online channels.