BBB Foods (NYSE:TBBB) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research lowered shares of BBB Foods (NYSE:TBBB) from a hold rating to a strong sell rating in a research note published on Monday,Zacks.com reports.

TBBB has been the subject of several other reports. JPMorgan Chase & Co. raised their target price on shares of BBB Foods from $35.50 to $39.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Wall Street Zen cut shares of BBB Foods from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of BBB Foods in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, BBB Foods presently has an average rating of “Hold” and an average target price of $34.80.

BBB Foods Stock Up 2.0%

TBBB traded up $0.57 on Monday, hitting $29.23. 31,333 shares of the company were exchanged, compared to its average volume of 711,892. The stock’s fifty day moving average is $26.71 and its 200-day moving average is $27.06. 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 company has a market cap of $3.34 billion, a PE ratio of -365.38 and a beta of -0.03.

BBB Foods (NYSE:TBBB) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.09). The company had revenue of $1 billion for the quarter, compared to analyst estimates of $17.98 billion. BBB Foods had a negative return on equity of 3.07% and a negative net margin of 0.19%. Equities research analysts predict that BBB Foods will post 0.15 EPS for the current fiscal year.

Institutional Trading of BBB Foods

Institutional investors have recently added to or reduced their stakes in the company. DNB Asset Management AS grew its holdings in BBB Foods by 60.0% in the 3rd quarter. DNB Asset Management AS now owns 374,275 shares of the company’s stock valued at $10,090,000 after buying an additional 140,409 shares in the last quarter. Citigroup Inc. grew its position in shares of BBB Foods by 108.9% during the 3rd quarter. Citigroup Inc. now owns 281,023 shares of the company’s stock worth $7,576,000 after purchasing an additional 146,488 shares in the last quarter. Barings LLC bought a new position in shares of BBB Foods during the third quarter worth approximately $1,959,000. Savant Capital LLC acquired a new stake in shares of BBB Foods in the third quarter valued at approximately $317,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of BBB Foods by 26.1% in the third quarter. Jones Financial Companies Lllp now owns 2,869 shares of the company’s stock valued at $75,000 after buying an additional 593 shares during the period. 8.42% of the stock is currently 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.