BBB Foods (NYSE:TBBB) Announces Quarterly Earnings Results, Misses Estimates By $0.23 EPS

BBB Foods (NYSE:TBBB) issued its quarterly earnings results on Wednesday. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.23), Zacks reports. BBB Foods had a negative net margin of 0.19% and a negative return on equity of 3.07%.

BBB Foods Price Performance

Shares of TBBB stock traded up $1.31 during trading hours on Wednesday, hitting $30.49. The company had a trading volume of 534,276 shares, compared to its average volume of 711,742. BBB Foods has a 12 month low of $23.00 and a 12 month high of $34.75. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.44 and a current ratio of 0.69. The firm’s fifty day moving average is $26.91 and its 200 day moving average is $26.99. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of -381.06 and a beta of -0.03.

Institutional Trading of BBB Foods

A number of large investors have recently bought and sold shares of the stock. Wasatch Advisors LP raised its stake in BBB Foods by 23.8% during the third quarter. Wasatch Advisors LP now owns 2,712,916 shares of the company’s stock worth $73,140,000 after acquiring an additional 520,904 shares in the last quarter. Verition Fund Management LLC grew its holdings in shares of BBB Foods by 25.5% in the 3rd quarter. Verition Fund Management LLC now owns 36,146 shares of the company’s stock worth $974,000 after purchasing an additional 7,345 shares during the last quarter. Larson Financial Group LLC lifted its holdings in BBB Foods by 547.9% during the 3rd quarter. Larson Financial Group LLC now owns 1,056 shares of the company’s stock valued at $28,000 after purchasing an additional 893 shares during the last quarter. Bank of America Corp DE boosted its position in BBB Foods by 43.9% in the third quarter. Bank of America Corp DE now owns 863,017 shares of the company’s stock valued at $23,267,000 after buying an additional 263,391 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC boosted its position in BBB Foods by 88.8% in the third quarter. Schonfeld Strategic Advisors LLC now owns 22,018 shares of the company’s stock valued at $594,000 after buying an additional 10,358 shares in the last quarter. 8.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TBBB shares. JPMorgan Chase & Co. upped their price objective on shares of BBB Foods from $35.50 to $39.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Wall Street Zen lowered BBB Foods from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BBB Foods in a report on Wednesday, October 8th. Finally, Zacks Research lowered BBB Foods from a “hold” rating to a “strong sell” rating in a report on Monday, November 10th. Three investment 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, BBB Foods presently has a consensus rating of “Hold” and a consensus target price of $34.80.

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.