BBB Foods (NYSE:TBBB) Sets New 12-Month High – What’s Next?

BBB Foods Inc. (NYSE:TBBB) hit a new 52-week high during trading on Monday . The company traded as high as $43.81 and last traded at $42.25, with a volume of 418194 shares traded. The stock had previously closed at $42.10.

Wall Street Analyst Weigh In

TBBB has been the subject of several analyst reports. Zacks Research cut shares of BBB Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, March 23rd. Scotiabank raised their price target on shares of BBB Foods from $37.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Wells Fargo & Company set a $42.00 price objective on shares of BBB Foods in a report on Friday, March 13th. HSBC upgraded shares of BBB Foods from a “hold” rating to a “buy” rating and upped their price objective for the stock from $38.00 to $47.00 in a research report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. increased their target price on shares of BBB Foods from $44.00 to $46.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $43.14.

BBB Foods Price Performance

The firm has a market capitalization of $4.98 billion, a PE ratio of -27.12 and a beta of 0.03. The stock has a 50-day moving average price of $38.10 and a 200 day moving average price of $35.97. The company has a quick ratio of 0.35, a current ratio of 0.60 and a debt-to-equity ratio of 2.76.

BBB Foods (NYSE:TBBB) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $1.27 billion. Equities analysts forecast that BBB Foods Inc. will post -0.61 EPS for the current fiscal year.

Institutional Trading of BBB Foods

Several institutional investors have recently made changes to their positions in TBBB. Orbis Allan Gray Ltd acquired a new stake in BBB Foods during the 4th quarter worth approximately $109,810,000. Principal Financial Group Inc. acquired a new position in shares of BBB Foods in the first quarter worth $65,967,000. Wasatch Advisors LP increased its position in shares of BBB Foods by 314.6% during the second quarter. Wasatch Advisors LP now owns 2,192,012 shares of the company’s stock worth $60,850,000 after acquiring an additional 1,663,338 shares during the period. 12 West Capital Management LP increased its position in shares of BBB Foods by 39.8% during the third quarter. 12 West Capital Management LP now owns 3,382,770 shares of the company’s stock worth $91,199,000 after acquiring an additional 963,712 shares during the period. Finally, Duquesne Family Office LLC raised its stake in shares of BBB Foods by 228.1% in the third quarter. Duquesne Family Office LLC now owns 1,183,125 shares of the company’s stock valued at $31,897,000 after acquiring an additional 822,575 shares in the last quarter. Hedge funds and other institutional investors own 8.42% of the company’s stock.

BBB Foods Company Profile

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.