BBB Foods (NYSE:TBBB) Reaches New 52-Week High – Time to Buy?

BBB Foods Inc. (NYSE:TBBB) shares hit a new 52-week high during trading on Monday. The stock traded as high as $57.81 and last traded at $58.8470, with a volume of 864,153 shares changing hands. The stock had previously closed at $57.68.

Analyst Upgrades and Downgrades

TBBB has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price objective on BBB Foods from $48.00 to $67.00 and gave the company an “overweight” rating in a research report on Thursday, September 10th. Weiss Ratings upgraded BBB Foods from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Zacks Research upgraded BBB Foods from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. UBS Group lifted their price target on shares of BBB Foods from $51.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Finally, Citigroup reaffirmed a “buy” rating on shares of BBB Foods in a report on Monday, September 14th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.50.

BBB Foods Trading Up 1.6%

The company has a 50 day simple moving average of $51.05 and a 200 day simple moving average of $43.26. The company has a market capitalization of $6.95 billion, a PE ratio of -36.29 and a beta of 0.02. 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 for the quarter, missing the consensus estimate of ($0.16) by ($0.03). The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.42 billion. BBB Foods had a negative net margin of 3.68% and a negative return on equity of 72.47%. Analysts anticipate that BBB Foods Inc. will post -0.62 earnings per share for the current year.

Insider Activity at BBB Foods

In related news, Director Sapire Rose Nicole Domin Reich sold 7,623 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $51.00, for a total transaction of $388,773.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TBBB. Wasatch Advisors LP grew its holdings in shares of BBB Foods by 3.4% during the second quarter. Wasatch Advisors LP now owns 4,239,474 shares of the company’s stock worth $176,659,000 after buying an additional 139,649 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of BBB Foods in the first quarter valued at about $65,967,000. Ninety One UK Ltd acquired a new stake in shares of BBB Foods in the third quarter valued at about $59,033,000. Sei Investments Co. raised its position in shares of BBB Foods by 10.7% in 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 last quarter. Finally, Carmignac Gestion lifted its stake in shares of BBB Foods by 526.5% in the second quarter. Carmignac Gestion now owns 670,106 shares of the company’s stock worth $27,917,000 after buying an additional 563,141 shares in the last quarter. Hedge funds and other institutional investors own 8.42% of the company’s stock.

About BBB Foods

BBB Foods Inc operates Tiendas 3B, a hard-discount grocery retail chain in Mexico. The company serves value-conscious consumers through small-format neighborhood stores focused on convenient locations, a streamlined shopping experience and everyday low prices.

Tiendas 3B stores offer a selection of essential grocery and household products, including packaged foods, beverages, personal-care items, cleaning supplies and other daily necessities. The assortment combines private-label merchandise with branded products, and certain locations also carry fresh or perishable goods.

BBB Foods was established to develop the hard-discount retail model in Mexico and has expanded its store network across the country, primarily in urban and suburban communities.