Jennison Associates LLC Buys New Shares in BBB Foods Inc. $TBBB

Jennison Associates LLC bought a new stake in BBB Foods Inc. (NYSE:TBBB) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 30,514 shares of the company’s stock, valued at approximately $847,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Teacher Retirement System of Texas lifted its position in BBB Foods by 0.3% in the second quarter. Teacher Retirement System of Texas now owns 1,165,895 shares of the company’s stock worth $32,365,000 after purchasing an additional 3,200 shares during the period. Y Intercept Hong Kong Ltd bought a new position in BBB Foods in the second quarter worth $2,676,000. VELA Investment Management LLC lifted its position in BBB Foods by 37.2% in the second quarter. VELA Investment Management LLC now owns 34,300 shares of the company’s stock worth $952,000 after purchasing an additional 9,300 shares during the period. J.Safra Asset Management Corp lifted its position in BBB Foods by 10.0% in the second quarter. J.Safra Asset Management Corp now owns 12,018 shares of the company’s stock worth $330,000 after purchasing an additional 1,093 shares during the period. Finally, Verdence Capital Advisors LLC lifted its position in BBB Foods by 6.2% in the second quarter. Verdence Capital Advisors LLC now owns 9,095 shares of the company’s stock worth $252,000 after purchasing an additional 529 shares during the period. 8.42% of the stock is owned by institutional investors.

BBB Foods Stock Down 4.9%

Shares of NYSE TBBB opened at $27.26 on Friday. The stock has a market cap of $3.11 billion, a PE ratio of -340.79 and a beta of -0.03. The business has a fifty day moving average of $26.53 and a two-hundred day moving average of $27.08. BBB Foods Inc. has a 52-week low of $23.00 and a 52-week high of $34.75. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.44 and a current ratio of 0.69.

BBB Foods (NYSE:TBBB) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.09). The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $17.98 billion. BBB Foods had a negative net margin of 0.19% and a negative return on equity of 3.07%. As a group, equities research analysts expect that BBB Foods Inc. will post 0.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on TBBB shares. The Goldman Sachs Group raised BBB Foods to a “hold” rating in a research report on Wednesday, July 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BBB Foods in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised their target price on BBB Foods from $35.50 to $39.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Zacks Research raised BBB Foods from a “strong sell” rating to a “hold” rating in a report on Friday, October 10th. Finally, Wall Street Zen cut BBB Foods from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, BBB Foods has an average rating of “Hold” and an average target price of $34.80.

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.