BBB Foods (NYSE:TBBB) Sets New 1-Year High – What’s Next?

BBB Foods Inc. (NYSE:TBBB) shares reached a new 52-week high on Monday. The stock traded as high as $66.58 and last traded at $66.8140, with a volume of 59,215 shares trading hands. The stock had previously closed at $65.62.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Citigroup reissued a “buy” rating on shares of BBB Foods in a research note on Monday, September 14th. UBS Group upped their price objective on BBB Foods from $58.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, October 21st. Scotiabank reaffirmed an “outperform” rating and set a $65.00 price objective on shares of BBB Foods in a report on Thursday, August 27th. Weiss Ratings lowered BBB Foods from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. lifted their target price on BBB Foods from $48.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, September 10th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $51.88.

BBB Foods Stock Up 0.5%

The company has a market capitalization of $8.05 billion, a P/E ratio of -72.22 and a beta of -0.01. The firm has a fifty day simple moving average of $55.23 and a 200-day simple moving average of $42.97. The company has a quick ratio of 0.45, a current ratio of 0.69 and a debt-to-equity ratio of 2.09.

BBB Foods (NYSE:TBBB) last released its quarterly earnings results on Monday, November 2nd. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.11. BBB Foods had a negative return on equity of 36.98% and a negative net margin of 1.94%. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.53 billion. On average, equities research analysts expect that BBB Foods Inc. will post -0.62 EPS for the current fiscal year.

Insider Activity at BBB Foods

In related news, Director Sapire Rose Nicole Domin Reich sold 7,623 shares of the business’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $51.00, for a total value of $388,773.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Hedge Funds Weigh In On BBB Foods

Hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. acquired a new stake in shares of BBB Foods during the 1st quarter worth approximately $65,967,000. Ninety One UK Ltd bought a new position in BBB Foods in the third quarter valued at about $59,033,000. Carmignac Gestion raised its stake in BBB Foods by 526.5% during the second quarter. Carmignac Gestion now owns 670,106 shares of the company’s stock worth $27,917,000 after acquiring an additional 563,141 shares in the last quarter. Ninety One North America Inc. bought a new position in shares of BBB Foods in the third quarter worth about $17,591,000. Finally, William Blair Investment Management LLC bought a new position in shares of BBB Foods in the third quarter worth about $15,718,000. 8.42% of the stock is currently owned by institutional investors and hedge funds.

BBB Foods Company Profile

BBB Foods operates Tiendas 3B, a hard-discount grocery retailer in Mexico. Its stores focus on everyday low prices and a streamlined shopping experience, offering a selected assortment of food and household products from both national brands and private-label lines. Founded in 2004, the company has expanded its store network across Mexico. The Tiendas 3B name refers to “bueno, bonito y barato,” or “good, attractive and affordable,” reflecting its emphasis on value. BBB Foods was founded by Anthony Hatoum, who serves as the company’s chief executive officer.