BBB Foods (NYSE:TBBB) Hits New 1-Year High – Here’s What Happened

BBB Foods Inc. (NYSE:TBBB) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $33.21 and last traded at $33.3110, with a volume of 550007 shares. The stock had previously closed at $31.95.

Wall Street Analyst Weigh In

TBBB has been the topic of several recent research reports. Zacks Research cut BBB Foods from a “hold” rating to a “strong sell” rating in a research report on Monday, November 10th. Wall Street Zen lowered BBB Foods from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. increased their price target on BBB Foods from $35.50 to $39.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of BBB Foods in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $34.80.

BBB Foods Trading Up 2.0%

The company has a current ratio of 0.65, a quick ratio of 0.39 and a debt-to-equity ratio of 2.21. The business has a 50 day moving average price of $27.82 and a 200-day moving average price of $27.14. The firm has a market capitalization of $3.72 billion, a PE ratio of -38.79 and a beta of -0.03.

BBB Foods (NYSE:TBBB) last posted its quarterly earnings results on Wednesday, November 19th. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.23). The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. BBB Foods had a negative net margin of 2.61% and a negative return on equity of 44.56%. Analysts expect that BBB Foods Inc. will post 0.15 earnings per share for the current year.

Institutional Trading of BBB Foods

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wasatch Advisors LP grew its position in BBB Foods by 23.8% during the third quarter. Wasatch Advisors LP now owns 2,712,916 shares of the company’s stock worth $73,140,000 after buying an additional 520,904 shares during the period. Verition Fund Management LLC boosted its stake in shares of BBB Foods by 25.5% during the 3rd quarter. Verition Fund Management LLC now owns 36,146 shares of the company’s stock worth $974,000 after acquiring an additional 7,345 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of BBB Foods by 547.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,056 shares of the company’s stock worth $28,000 after acquiring an additional 893 shares during the period. Centiva Capital LP purchased a new position in BBB Foods in the 3rd quarter valued at approximately $430,000. Finally, Bank of America Corp DE raised its holdings in BBB Foods by 43.9% during the third quarter. Bank of America Corp DE now owns 863,017 shares of the company’s stock worth $23,267,000 after purchasing an additional 263,391 shares during the last quarter. Institutional investors and hedge funds own 8.42% of the company’s stock.

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.