BBB Foods (NYSE:TBBB) Announces Quarterly Earnings Results

BBB Foods (NYSE:TBBB) issued its earnings results on Wednesday. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.23), Zacks reports. BBB Foods had a negative return on equity of 3.07% and a negative net margin of 0.19%.

BBB Foods Stock Performance

Shares of NYSE TBBB traded up $1.31 during trading on Wednesday, hitting $30.49. The company had a trading volume of 534,722 shares, compared to its average volume of 711,742. BBB Foods has a 12 month low of $23.00 and a 12 month 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. The firm has a market capitalization of $3.48 billion, a P/E ratio of -381.06 and a beta of -0.03. The stock has a 50 day simple moving average of $26.91 and a 200 day simple moving average of $26.99.

Hedge Funds Weigh In On BBB Foods

Several large investors have recently added to or reduced their stakes in TBBB. Goldman Sachs Group Inc. lifted its stake in shares of BBB Foods by 276.8% during the 1st 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 in the last quarter. Qube Research & Technologies Ltd lifted its position in shares of BBB Foods by 48.4% in the second quarter. Qube Research & Technologies Ltd now owns 285,206 shares of the company’s stock valued at $7,917,000 after acquiring an additional 92,989 shares in the last quarter. Sei Investments Co. lifted its position in shares of BBB Foods by 57.7% in the second 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 in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of BBB Foods by 0.3% in the second quarter. The Manufacturers Life Insurance Company now owns 705,005 shares of the company’s stock worth $19,571,000 after acquiring an additional 2,434 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of BBB Foods by 32.3% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 171,979 shares of the company’s stock worth $4,774,000 after purchasing an additional 41,979 shares in the last quarter. Hedge funds and other institutional investors own 8.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on BBB Foods from $35.50 to $39.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Zacks Research downgraded BBB Foods from a “hold” rating to a “strong sell” rating in a report on Monday, November 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BBB Foods in a research report on Wednesday, October 8th. Finally, Wall Street Zen downgraded BBB Foods from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $34.80.

About BBB Foods

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.