BBB Foods (NYSE:TBBB) Price Target Raised to $48.00 at JPMorgan Chase & Co.

BBB Foods (NYSE:TBBB) had its target price increased by JPMorgan Chase & Co. from $46.00 to $48.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

TBBB has been the subject of several other reports. Wall Street Zen raised shares of BBB Foods from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Zacks Research upgraded shares of BBB Foods from a “strong sell” rating to a “hold” rating in a report on Monday. HSBC raised shares of BBB Foods from a “hold” rating to a “buy” rating and lifted their price objective for the company from $38.00 to $47.00 in a research note on Wednesday, May 27th. Scotiabank upped their price objective on shares of BBB Foods from $37.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of BBB Foods in a research report on Wednesday, June 24th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $43.43.

BBB Foods Stock Up 1.6%

Shares of BBB Foods stock opened at $40.33 on Thursday. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of -26.02 and a beta of -0.02. The company has a debt-to-equity ratio of 2.76, a current ratio of 0.60 and a quick ratio of 0.35. BBB Foods has a 52-week low of $23.81 and a 52-week high of $43.81. The stock has a 50-day simple moving average of $39.55 and a 200-day simple moving average of $36.91.

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

Institutional Trading of BBB Foods

Large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its holdings in BBB Foods by 276.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 156,526 shares of the company’s stock worth $4,176,000 after acquiring an additional 114,990 shares during the period. Qube Research & Technologies Ltd grew its holdings in BBB Foods by 48.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 285,206 shares of the company’s stock valued at $7,917,000 after buying an additional 92,989 shares during the last quarter. Sei Investments Co. grew its holdings in BBB Foods by 57.7% in the 2nd quarter. Sei Investments Co. now owns 417,794 shares of the company’s stock valued at $11,598,000 after buying an additional 152,883 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in BBB Foods by 0.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 705,005 shares of the company’s stock worth $19,571,000 after buying an additional 2,434 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in BBB Foods by 32.3% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 171,979 shares of the company’s stock worth $4,774,000 after buying an additional 41,979 shares during the period. 8.42% of the stock is owned by 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.