BBB Foods (NYSE:TBBB) Hits New 12-Month High – Here’s Why

BBB Foods Inc. (NYSE:TBBB)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $40.31 and last traded at $39.9310, with a volume of 43984 shares. The stock had previously closed at $39.52.

Wall Street Analysts Forecast Growth

TBBB has been the subject of a number of research analyst reports. Wall Street Zen raised BBB Foods from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. HSBC raised shares of BBB Foods from a “hold” rating to a “buy” rating and increased their price objective for the stock from $38.00 to $47.00 in a report on Wednesday, May 27th. UBS Group boosted their target price on shares of BBB Foods from $31.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. Weiss Ratings reiterated a “sell (d+)” rating on shares of BBB Foods in a research report on Friday, March 27th. Finally, Zacks Research cut shares of BBB Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, March 23rd. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $43.14.

BBB Foods Trading Up 2.5%

The company has a quick ratio of 0.35, a current ratio of 0.60 and a debt-to-equity ratio of 2.76. The company has a market cap of $4.80 billion, a P/E ratio of -26.12 and a beta of 0.03. The business has a 50-day moving average price of $36.97 and a two-hundred day moving average price of $35.29.

BBB Foods (NYSE:TBBB) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03). The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. BBB Foods had a negative return on equity of 79.86% and a negative net margin of 3.95%. On average, analysts predict that BBB Foods Inc. will post -0.61 EPS for the current year.

Institutional Investors Weigh In On BBB Foods

Institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its holdings 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 buying an additional 114,990 shares during the period. Qube Research & Technologies Ltd grew its holdings in BBB Foods by 48.4% during the 2nd quarter. Qube Research & Technologies Ltd now owns 285,206 shares of the company’s stock worth $7,917,000 after acquiring an additional 92,989 shares during the period. Sei Investments Co. raised its position in shares of BBB Foods by 57.7% during the 2nd quarter. Sei Investments Co. now owns 417,794 shares of the company’s stock valued at $11,598,000 after acquiring an additional 152,883 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of BBB Foods by 0.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 705,005 shares of the company’s stock valued at $19,571,000 after acquiring an additional 2,434 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of BBB Foods by 32.3% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 171,979 shares of the company’s stock valued at $4,774,000 after purchasing an additional 41,979 shares during the period. Institutional investors and hedge funds 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. The company also provides branded, private label, and spot products. It serves low-to-middle income households through online channels.