BBB Foods (NYSE:TBBB) Trading Up 6.3% on Analyst Upgrade

BBB Foods Inc. (NYSE:TBBB)’s share price was up 6.3% during mid-day trading on Friday after Wall Street Zen upgraded the stock from a sell rating to a hold rating. The company traded as high as $33.82 and last traded at $33.7660. Approximately 98,898 shares traded hands during trading, a decline of 85% from the average daily volume of 672,974 shares. The stock had previously closed at $31.76.

A number of other equities research analysts have also weighed in on the stock. Wells Fargo & Company set a $42.00 price objective on shares of BBB Foods in a report on Friday. The Goldman Sachs Group raised their target price on BBB Foods from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, December 18th. Zacks Research raised BBB Foods from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 5th. Weiss Ratings reiterated a “sell (d+)” rating on shares of BBB Foods in a research note on Monday, December 29th. Finally, Morgan Stanley raised BBB Foods to an “overweight” rating in a report on Wednesday, January 28th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, BBB Foods has an average rating of “Hold” and a consensus price target of $39.50.

Institutional Investors Weigh In On BBB Foods

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TBBB. Caitong International Asset Management Co. Ltd purchased a new position in shares of BBB Foods during the 4th quarter valued at about $89,000. Virtu Financial LLC acquired a new position in shares of BBB Foods in the 4th quarter valued at about $399,000. XTX Topco Ltd purchased a new stake in shares of BBB Foods in the fourth quarter worth about $463,000. Tudor Investment Corp ET AL purchased a new stake in shares of BBB Foods in the fourth quarter worth about $2,952,000. Finally, Millennium Management LLC grew its holdings 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 period. 8.42% of the stock is owned by institutional investors and hedge funds.

BBB Foods Stock Performance

The firm has a fifty day moving average of $35.24 and a 200 day moving average of $31.22. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.65 and a quick ratio of 0.39. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of -25.08 and a beta of -0.16.

BBB Foods (NYSE:TBBB) last announced its quarterly earnings results on Wednesday, March 11th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.22). BBB Foods had a negative net margin of 3.72% and a negative return on equity of 70.82%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.24 billion. On average, sell-side analysts anticipate that BBB Foods Inc. will post 0.15 earnings per share for the current fiscal year.

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.