BBB Foods (NYSE:TBBB) Sees Strong Trading Volume – Here’s What Happened

BBB Foods Inc. (NYSE:TBBB) saw unusually-high trading volume on Friday . Approximately 2,807,421 shares traded hands during mid-day trading, an increase of 379% from the previous session’s volume of 586,312 shares.The stock last traded at $35.6350 and had previously closed at $32.73.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TBBB shares. Zacks Research cut BBB Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, March 23rd. Scotiabank upped their target price 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. UBS Group boosted their target price on BBB Foods from $31.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. HSBC upgraded shares of BBB Foods from a “hold” rating to a “buy” rating and lifted their price target for the stock from $38.00 to $47.00 in a research note on Wednesday. Finally, Wells Fargo & Company set a $42.00 price target on shares of BBB Foods in a research note on Friday, March 13th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s 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 Stock Performance

The stock has a market cap of $4.19 billion, a price-to-earnings ratio of -23.10 and a beta of 0.02. The stock’s 50 day moving average is $36.15 and its two-hundred day moving average is $34.71. The company has a current ratio of 0.62, a quick ratio of 0.35 and a debt-to-equity ratio of 2.61.

BBB Foods (NYSE:TBBB) last issued its quarterly 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). The business 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 82.15% and a negative net margin of 3.95%. Analysts anticipate that BBB Foods Inc. will post -0.61 earnings per share for the current fiscal year.

Institutional Trading of BBB Foods

Hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC lifted its position in BBB Foods by 92.5% during the 4th quarter. Farther Finance Advisors LLC now owns 824 shares of the company’s stock worth $28,000 after acquiring an additional 396 shares during the period. Osaic Holdings Inc. acquired a new stake in BBB Foods during the 2nd quarter worth approximately $25,000. Larson Financial Group LLC lifted its position in BBB Foods by 547.9% during the 3rd quarter. Larson Financial Group LLC now owns 1,056 shares of the company’s stock worth $28,000 after acquiring an additional 893 shares during the period. Smartleaf Asset Management LLC acquired a new stake in BBB Foods during the 4th quarter worth approximately $39,000. Finally, Toth Financial Advisory Corp raised its position in BBB Foods by 29.0% during the 4th quarter. Toth Financial Advisory Corp now owns 1,600 shares of the company’s stock worth $53,000 after buying an additional 360 shares during the last quarter. 8.42% of the stock is owned by institutional investors and hedge funds.

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.