3G Capital Partners LP Sells 1,050,000 Shares of BBB Foods Inc. $TBBB

3G Capital Partners LP cut its holdings in shares of BBB Foods Inc. (NYSE:TBBB) by 65.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 550,000 shares of the company’s stock after selling 1,050,000 shares during the period. BBB Foods comprises approximately 4.3% of 3G Capital Partners LP’s holdings, making the stock its 9th biggest position. 3G Capital Partners LP’s holdings in BBB Foods were worth $18,364,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the business. Greenoaks Capital Partners LLC acquired a new stake in shares of BBB Foods during the 4th quarter valued at about $9,340,000. Fund 1 Investments LLC acquired a new stake in shares of BBB Foods during the 4th quarter valued at about $992,000. Lazard Asset Management LLC acquired a new stake in shares of BBB Foods during the 4th quarter valued at about $1,894,000. Jain Global LLC acquired a new stake in shares of BBB Foods during the 4th quarter valued at about $722,000. Finally, Orbis Allan Gray Ltd acquired a new stake in shares of BBB Foods during the 4th quarter valued at about $109,810,000. 8.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TBBB has been the topic of a number of analyst reports. Wall Street Zen upgraded BBB Foods from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Itau BBA Securities upgraded BBB Foods from a “market perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a report on Friday, March 13th. JPMorgan Chase & Co. lifted their price objective on BBB Foods from $44.00 to $46.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. UBS Group lifted their price objective on BBB Foods from $31.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. Finally, HSBC upgraded BBB Foods from a “hold” rating to a “buy” rating and lifted their price objective 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, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $43.14.

BBB Foods Trading Up 0.2%

TBBB opened at $42.53 on Thursday. The company has a debt-to-equity ratio of 2.76, a current ratio of 0.60 and a quick ratio of 0.35. The company’s 50 day simple moving average is $37.72 and its two-hundred day simple moving average is $35.72. BBB Foods Inc. has a 1-year low of $23.81 and a 1-year high of $43.80. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of -27.44 and a beta of 0.03.

BBB Foods (NYSE:TBBB) last released 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). BBB Foods had a negative return on equity of 79.86% and a negative net margin of 3.95%.The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Analysts expect that BBB Foods Inc. will post -0.61 EPS for the current fiscal year.

BBB Foods 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.