Zacks Research Upgrades BBB Foods (NYSE:TBBB) to “Hold”

BBB Foods (NYSE:TBBB) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

A number of other analysts also recently issued reports on the company. The Goldman Sachs Group raised their price objective on BBB Foods from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, December 18th. Morgan Stanley raised shares of BBB Foods to an “overweight” rating in a research report on Wednesday, January 28th. Weiss Ratings restated a “sell (d+)” rating on shares of BBB Foods in a report on Monday, December 29th. JPMorgan Chase & Co. increased their target price on shares of BBB Foods from $35.50 to $39.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Finally, Wall Street Zen cut shares of BBB Foods from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $35.80.

BBB Foods Price Performance

NYSE:TBBB opened at $38.99 on Thursday. The firm has a market cap of $4.45 billion, a P/E ratio of -46.42 and a beta of -0.14. The stock has a 50 day moving average of $34.02 and a two-hundred day moving average of $29.39. BBB Foods has a 12 month low of $23.00 and a 12 month high of $39.39. The company has a current ratio of 0.65, a quick ratio of 0.39 and a debt-to-equity ratio of 2.21.

BBB Foods (NYSE:TBBB) last announced its quarterly earnings data 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). BBB Foods had a negative net margin of 2.61% and a negative return on equity of 44.56%. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. On average, analysts expect that BBB Foods will post 0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Wasatch Advisors LP boosted its stake in shares of BBB Foods by 314.6% in the second quarter. Wasatch Advisors LP now owns 2,192,012 shares of the company’s stock valued at $60,850,000 after buying an additional 1,663,338 shares in the last quarter. 3G Capital Partners LP grew its holdings in shares of BBB Foods by 328.6% in the 2nd quarter. 3G Capital Partners LP now owns 1,500,000 shares of the company’s stock worth $41,640,000 after acquiring an additional 1,150,000 shares during the period. 12 West Capital Management LP raised its holdings in BBB Foods by 39.8% during the third quarter. 12 West Capital Management LP now owns 3,382,770 shares of the company’s stock worth $91,199,000 after purchasing an additional 963,712 shares during the last quarter. Duquesne Family Office LLC raised its stake in shares of BBB Foods by 228.1% during the 3rd quarter. Duquesne Family Office LLC now owns 1,183,125 shares of the company’s stock worth $31,897,000 after buying an additional 822,575 shares during the last quarter. Finally, Bronte Capital Management Pty Ltd. acquired a new position in BBB Foods during the fourth quarter worth about $13,161,000. 8.42% of the stock is currently owned by institutional investors and hedge funds.

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.