Cidel Asset Management Inc. Takes Position in BBB Foods Inc. $TBBB

Cidel Asset Management Inc. bought a new stake in shares of BBB Foods Inc. (NYSE:TBBB) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 118,334 shares of the company’s stock, valued at approximately $4,931,000.

A number of other large investors also recently added to or reduced their stakes in the business. Sei Investments Co. boosted its position in BBB Foods by 10.7% during the first quarter. Sei Investments Co. now owns 748,627 shares of the company’s stock valued at $26,479,000 after buying an additional 72,646 shares during the period. Principal Financial Group Inc. purchased a new position in shares of BBB Foods in the first quarter worth about $65,967,000. Carmignac Gestion purchased a new position in shares of BBB Foods in the first quarter worth about $3,778,000. Wasatch Advisors LP grew its position in BBB Foods by 3.4% during the 2nd quarter. Wasatch Advisors LP now owns 4,239,474 shares of the company’s stock worth $176,659,000 after acquiring an additional 139,649 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in BBB Foods by 64.3% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 371,642 shares of the company’s stock worth $13,145,000 after acquiring an additional 145,412 shares during the last quarter. Hedge funds and other institutional investors own 8.42% of the company’s stock.

Insider Buying and Selling at BBB Foods

In related news, Director Sapire Rose Nicole Domin Reich sold 7,623 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $50.50, for a total transaction of $384,961.50. Following the completion of the transaction, the director owned 7,623 shares of the company’s stock, valued at $384,961.50. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TBBB shares. Zacks Research raised BBB Foods from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Wall Street Zen raised BBB Foods from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. HSBC upgraded BBB Foods from a “hold” rating to a “buy” rating and increased their price objective for the stock from $38.00 to $47.00 in a report on Wednesday, May 27th. JPMorgan Chase & Co. lifted their price objective on BBB Foods from $46.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of BBB Foods in a report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.12.

BBB Foods Price Performance

Shares of TBBB opened at $50.74 on Wednesday. BBB Foods Inc. has a fifty-two week low of $23.81 and a fifty-two week high of $51.62. The firm’s 50-day simple moving average is $44.27 and its two-hundred day simple moving average is $39.61. The stock has a market cap of $6.02 billion, a PE ratio of -31.52 and a beta of 0.05. The company has a debt-to-equity ratio of 2.16, a quick ratio of 0.44 and a current ratio of 0.68.

BBB Foods (NYSE:TBBB) last released its earnings results on Wednesday, August 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.03). BBB Foods had a negative net margin of 3.68% and a negative return on equity of 72.47%. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Analysts anticipate that BBB Foods Inc. will post -0.63 earnings per share for the current fiscal year.

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.