BBB Foods (NYSE:TBBB) Sets New 12-Month High – Here’s Why

BBB Foods Inc. (NYSE:TBBB) shares reached a new 52-week high during trading on Friday . The company traded as high as $33.21 and last traded at $33.3110, with a volume of 550007 shares changing hands. The stock had previously closed at $31.95.

Analyst Ratings Changes

TBBB has been the subject of several recent analyst reports. Wall Street Zen cut BBB Foods from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Zacks Research downgraded BBB Foods from a “hold” rating to a “strong sell” rating in a research report on Monday, November 10th. Weiss Ratings restated a “sell (d)” rating on shares of BBB Foods in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased their target price on shares of BBB Foods from $35.50 to $39.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $34.80.

BBB Foods Stock Up 2.1%

The firm has a market cap of $3.72 billion, a PE ratio of -38.82 and a beta of -0.03. The company has a quick ratio of 0.39, a current ratio of 0.65 and a debt-to-equity ratio of 2.21. The business has a 50-day moving average price of $27.68 and a two-hundred day moving average price of $27.12.

BBB Foods (NYSE:TBBB) last announced its quarterly earnings data on Wednesday, November 19th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.23). BBB Foods had a negative net margin of 2.61% and a negative return on equity of 44.56%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. On average, equities research analysts expect that BBB Foods Inc. will post 0.15 EPS for the current year.

Institutional Investors Weigh In On BBB Foods

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Picton Mahoney Asset Management increased its holdings in BBB Foods by 35.7% in the first quarter. Picton Mahoney Asset Management now owns 39,900 shares of the company’s stock valued at $1,065,000 after buying an additional 10,500 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of BBB Foods during the 1st quarter worth about $838,000. Bank of Nova Scotia purchased a new position in BBB Foods in the first quarter valued at approximately $213,000. Deutsche Bank AG raised its holdings in BBB Foods by 104.5% during the first quarter. Deutsche Bank AG now owns 22,500 shares of the company’s stock worth $600,000 after purchasing an additional 11,500 shares in the last quarter. Finally, Entropy Technologies LP purchased a new stake in shares of BBB Foods during the 1st quarter worth approximately $461,000. 8.42% of the stock is currently owned by institutional investors and hedge funds.

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.