Bronte Capital Management Pty Ltd. Raises Stock Position in BBB Foods Inc. $TBBB

Bronte Capital Management Pty Ltd. lifted its holdings in shares of BBB Foods Inc. (NYSE:TBBB) by 23.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 487,550 shares of the company’s stock after purchasing an additional 93,392 shares during the quarter. BBB Foods comprises about 1.8% of Bronte Capital Management Pty Ltd.’s holdings, making the stock its 13th biggest holding. Bronte Capital Management Pty Ltd. owned about 0.42% of BBB Foods worth $17,245,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Osaic Holdings Inc. acquired a new stake in BBB Foods during the 2nd quarter worth approximately $25,000. Farther Finance Advisors LLC raised its stake in shares of BBB Foods by 92.5% in the fourth quarter. Farther Finance Advisors LLC now owns 824 shares of the company’s stock valued at $28,000 after acquiring an additional 396 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of BBB Foods by 547.9% in the third quarter. Larson Financial Group LLC now owns 1,056 shares of the company’s stock valued at $28,000 after acquiring an additional 893 shares in the last quarter. Smartleaf Asset Management LLC purchased a new position in BBB Foods in the fourth quarter valued at $39,000. Finally, Toth Financial Advisory Corp boosted its holdings in BBB Foods by 29.0% in the fourth quarter. Toth Financial Advisory Corp now owns 1,600 shares of the company’s stock valued at $53,000 after purchasing an additional 360 shares during the period. Hedge funds and other institutional investors own 8.42% of the company’s stock.

BBB Foods Stock Performance

Shares of TBBB opened at $42.01 on Friday. The company has a market capitalization of $4.98 billion, a price-to-earnings ratio of -27.11 and a beta of -0.02. BBB Foods Inc. 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 50 day moving average price of $38.76 and a 200 day moving average price of $36.39.

BBB Foods (NYSE:TBBB) last released its quarterly earnings data 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 for 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%. Research analysts predict that BBB Foods Inc. will post -0.61 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TBBB has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price objective on BBB Foods from $44.00 to $46.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. Wall Street Zen upgraded shares of BBB Foods from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Wells Fargo & Company set a $42.00 target price on shares of BBB Foods in a report on Friday, March 13th. Scotiabank lifted their price target on shares of BBB Foods from $37.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of BBB Foods in a report on Wednesday, June 24th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $43.14.

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.