Bronte Capital Management Pty Ltd. Invests $13.16 Million in BBB Foods Inc. $TBBB

Bronte Capital Management Pty Ltd. bought a new position in shares of BBB Foods Inc. (NYSE:TBBB) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 394,158 shares of the company’s stock, valued at approximately $13,161,000. BBB Foods comprises approximately 1.4% of Bronte Capital Management Pty Ltd.’s portfolio, making the stock its 15th biggest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of TBBB. Osaic Holdings Inc. purchased a new stake in shares of BBB Foods during the second quarter worth about $25,000. Farther Finance Advisors LLC increased its position in shares of BBB Foods by 92.5% during the fourth quarter. Farther Finance Advisors LLC now owns 824 shares of the company’s stock worth $28,000 after acquiring an additional 396 shares during the last quarter. Larson Financial Group LLC increased its position in shares of BBB Foods by 547.9% during the third quarter. Larson Financial Group LLC now owns 1,056 shares of the company’s stock worth $28,000 after acquiring an additional 893 shares during the last quarter. Toth Financial Advisory Corp increased its holdings in BBB Foods by 29.0% in the fourth quarter. Toth Financial Advisory Corp now owns 1,600 shares of the company’s stock valued at $53,000 after buying an additional 360 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in 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 last quarter. 8.42% of the stock is owned by hedge funds and other institutional investors.

BBB Foods Stock Performance

Shares of TBBB stock opened at $38.12 on Wednesday. The company has a quick ratio of 0.35, a current ratio of 0.62 and a debt-to-equity ratio of 2.61. The business has a 50 day moving average of $35.55 and a two-hundred day moving average of $33.73. BBB Foods Inc. has a 52 week low of $23.81 and a 52 week high of $40.09. The company has a market cap of $4.45 billion, a P/E ratio of -28.88 and a beta of 0.02.

BBB Foods (NYSE:TBBB) last issued its earnings results on Wednesday, March 11th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.22). BBB Foods had a negative net margin of 3.72% and a negative return on equity of 70.80%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.24 billion. As a group, analysts anticipate that BBB Foods Inc. will post -0.57 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TBBB. Zacks Research lowered BBB Foods from a “hold” rating to a “strong sell” rating in a report on Monday, March 23rd. Wells Fargo & Company set a $42.00 price objective on BBB Foods in a report on Friday, March 13th. Morgan Stanley raised BBB Foods to an “overweight” rating in a report on Wednesday, January 28th. Weiss Ratings reissued a “sell (d+)” rating on shares of BBB Foods in a report on Friday, March 27th. Finally, Itau BBA Securities raised BBB Foods from a “market perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a report on Friday, March 13th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, BBB Foods currently has a consensus rating of “Hold” and an average target price of $42.50.

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.