BBB Foods (NYSE:TBBB) Price Target Raised to $48.00

BBB Foods (NYSE:TBBB) had its target price hoisted by JPMorgan Chase & Co. from $46.00 to $48.00 in a report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also recently issued reports on TBBB. Zacks Research upgraded BBB Foods from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Scotiabank increased their target price on BBB Foods from $37.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Weiss Ratings reissued a “sell (d+)” rating on shares of BBB Foods in a report on Wednesday, June 24th. Wall Street Zen raised BBB Foods from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, HSBC upgraded BBB Foods from a “hold” rating to a “buy” rating and boosted their price target for the company from $38.00 to $47.00 in a research note on Wednesday, May 27th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, BBB Foods presently has an average rating of “Hold” and an average target price of $43.43.

BBB Foods Price Performance

Shares of TBBB opened at $40.62 on Thursday. The firm has a market capitalization of $4.82 billion, a PE ratio of -26.21 and a beta of -0.02. The company’s 50-day moving average is $39.61 and its 200-day moving average is $36.94. BBB Foods has a fifty-two week low of $23.81 and a fifty-two week high of $43.81. The company has a debt-to-equity ratio of 2.76, a current ratio of 0.60 and a quick ratio of 0.35.

BBB Foods (NYSE:TBBB) last announced its earnings results on Wednesday, May 6th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.03). BBB Foods had a negative return on equity of 79.86% and a negative net margin of 3.95%.The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. Equities analysts forecast that BBB Foods will post -0.61 EPS for the current year.

Institutional Trading of BBB Foods

A number of institutional investors have recently bought and sold shares of TBBB. Goldman Sachs Group Inc. increased its holdings in shares of BBB Foods by 276.8% during the first quarter. Goldman Sachs Group Inc. now owns 156,526 shares of the company’s stock worth $4,176,000 after purchasing an additional 114,990 shares during the period. Qube Research & Technologies Ltd raised its position in shares of BBB Foods by 48.4% in the second quarter. Qube Research & Technologies Ltd now owns 285,206 shares of the company’s stock valued at $7,917,000 after buying an additional 92,989 shares in the last quarter. Sei Investments Co. boosted its stake in shares of BBB Foods by 57.7% in the second quarter. Sei Investments Co. now owns 417,794 shares of the company’s stock valued at $11,598,000 after buying an additional 152,883 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of BBB Foods by 0.3% in the second quarter. The Manufacturers Life Insurance Company now owns 705,005 shares of the company’s stock valued at $19,571,000 after buying an additional 2,434 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in BBB Foods by 32.3% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 171,979 shares of the company’s stock worth $4,774,000 after buying an additional 41,979 shares in the last quarter. Institutional investors own 8.42% of the company’s stock.

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.