BBB Foods (NYSE:TBBB) Issues Earnings Results

BBB Foods (NYSE:TBBB) issued its quarterly earnings results on Wednesday. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.03), Zacks reports. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.42 billion. BBB Foods had a negative return on equity of 79.86% and a negative net margin of 3.95%.

BBB Foods Trading Up 1.6%

TBBB traded up $0.65 during trading on Wednesday, hitting $42.09. 588,150 shares of the company’s stock were exchanged, compared to its average volume of 629,359. BBB Foods has a 1 year low of $23.81 and a 1 year high of $44.58. The stock has a 50 day moving average price of $41.11 and a 200 day moving average price of $37.86. The firm has a market cap of $4.99 billion and a P/E ratio of -27.15. The company has a current ratio of 0.60, a quick ratio of 0.35 and a debt-to-equity ratio of 2.76.

Hedge Funds Weigh In On BBB Foods

Several hedge funds and other institutional investors have recently made changes to their positions in TBBB. Virtu Financial LLC acquired a new stake in BBB Foods in the 4th quarter valued at $399,000. XTX Topco Ltd purchased a new stake in shares of BBB Foods in the fourth quarter worth about $463,000. Tudor Investment Corp ET AL purchased a new stake in shares of BBB Foods in the fourth quarter worth about $2,952,000. Millennium Management LLC grew its stake in shares of BBB Foods by 296.5% in the fourth quarter. Millennium Management LLC now owns 778,613 shares of the company’s stock valued at $25,998,000 after buying an additional 582,262 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in shares of BBB Foods by 18.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 20,439 shares of the company’s stock valued at $682,000 after buying an additional 3,113 shares in the last quarter. Institutional investors and hedge funds own 8.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TBBB shares. Citigroup initiated coverage on shares of BBB Foods in a report on Friday, July 31st. They set a “buy” rating and a $49.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price on shares of BBB Foods from $46.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Zacks Research raised shares of BBB Foods from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. HSBC raised shares of BBB Foods from a “hold” rating to a “buy” rating and increased their price target for the stock from $38.00 to $47.00 in a research note on Wednesday, May 27th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of BBB Foods in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $45.12.

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. The company also provides branded, private label, and spot products. It serves low-to-middle income households through online channels.