JPMorgan Chase & Co. Issues Positive Forecast for BBB Foods (NYSE:TBBB) Stock Price

BBB Foods (NYSE:TBBB) had its price target raised by equities researchers at JPMorgan Chase & Co. from $46.00 to $48.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 21.20% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Wall Street Zen raised shares of BBB Foods from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Scotiabank increased their price objective on BBB Foods from $37.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Weiss Ratings restated a “sell (d+)” rating on shares of BBB Foods in a research report on Wednesday, June 24th. Zacks Research raised BBB Foods from a “strong sell” rating to a “hold” rating in a research report on Monday. Finally, HSBC upgraded shares of BBB Foods from a “hold” rating to a “buy” rating and raised their target price for the stock from $38.00 to $47.00 in a report on Wednesday, May 27th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $43.43.

BBB Foods Trading Down 0.2%

BBB Foods stock traded down $0.07 during midday trading on Thursday, hitting $39.60. 158,668 shares of the stock were exchanged, compared to its average volume of 649,181. BBB Foods has a 52 week low of $23.81 and a 52 week high of $43.81. 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 stock has a market capitalization of $4.70 billion, a PE ratio of -25.55 and a beta of -0.02. The company has a fifty day simple moving average of $39.51 and a two-hundred day simple moving average of $36.87.

BBB Foods (NYSE:TBBB) last announced its earnings results on Wednesday, May 6th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03). The company 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%. Equities research analysts anticipate that BBB Foods will post -0.61 EPS for the current fiscal year.

Institutional Trading of BBB Foods

Institutional investors have recently modified their holdings of the stock. Orbis Allan Gray Ltd purchased a new stake in BBB Foods in the 4th quarter valued at $109,810,000. Principal Financial Group Inc. acquired a new stake in shares of BBB Foods in the first quarter valued at about $65,967,000. Wasatch Advisors LP raised its holdings in BBB Foods by 314.6% during the second quarter. Wasatch Advisors LP now owns 2,192,012 shares of the company’s stock worth $60,850,000 after purchasing an additional 1,663,338 shares during the last quarter. Duquesne Family Office LLC increased its position in shares of BBB Foods by 228.1% in the third quarter. Duquesne Family Office LLC now owns 1,183,125 shares of the company’s stock valued at $31,897,000 after buying an additional 822,575 shares in the last quarter. Finally, Millennium Management LLC raised its position in BBB Foods by 296.5% during the fourth quarter. Millennium Management LLC now owns 778,613 shares of the company’s stock worth $25,998,000 after acquiring an additional 582,262 shares during the last quarter. 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.