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

BBB Foods Inc. (NYSE:TBBB)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $43.80 and last traded at $42.33, with a volume of 1047195 shares. The stock had previously closed at $42.12.

Analyst Upgrades and Downgrades

A number of analysts have commented on TBBB shares. Itau BBA Securities raised BBB Foods from a “market perform” rating to an “outperform” rating and set a $42.00 target price for the company in a report on Friday, March 13th. HSBC raised BBB Foods from a “hold” rating to a “buy” rating and lifted their target price for the stock from $38.00 to $47.00 in a report on Wednesday, May 27th. Wells Fargo & Company set a $42.00 price objective on BBB Foods in a report on Friday, March 13th. Wall Street Zen raised BBB Foods from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Scotiabank lifted 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. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $43.14.

BBB Foods Stock Up 0.5%

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 company has a market cap of $5.02 billion, a P/E ratio of -27.31 and a beta of 0.03. The company has a fifty day moving average of $37.47 and a 200 day moving average of $35.57.

BBB Foods (NYSE:TBBB) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.03). BBB Foods had a negative net margin of 3.95% and a negative return on equity of 79.86%. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. On average, research analysts anticipate that BBB Foods Inc. will post -0.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BBB Foods

A number of hedge funds have recently made changes to their positions in the company. Carmignac Gestion purchased a new stake in shares of BBB Foods in the first quarter worth about $3,778,000. Militia Capital Management LLC purchased a new stake in shares of BBB Foods in the first quarter worth about $1,734,000. Royal Bank of Canada lifted its position in shares of BBB Foods by 19.6% in the first quarter. Royal Bank of Canada now owns 11,415 shares of the company’s stock worth $404,000 after buying an additional 1,874 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of BBB Foods by 12.4% in the first quarter. Lazard Asset Management LLC now owns 63,744 shares of the company’s stock worth $2,255,000 after buying an additional 7,032 shares in the last quarter. Finally, Sei Investments Co. lifted its position in shares of BBB Foods by 10.7% in the first quarter. Sei Investments Co. now owns 748,627 shares of the company’s stock worth $26,479,000 after buying an additional 72,646 shares in the last quarter. 8.42% of the stock is currently owned by hedge funds and other institutional investors.

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. The company also provides branded, private label, and spot products. It serves low-to-middle income households through online channels.