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

Shares of BBB Foods Inc. (NYSE:TBBB) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $44.75 and last traded at $46.6790, with a volume of 6926 shares trading hands. The stock had previously closed at $42.30.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TBBB. Scotiabank lifted their price target on BBB Foods from $37.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Citigroup assumed coverage on BBB Foods in a research report on Friday, July 31st. They issued a “buy” rating and a $49.00 target price on the stock. Wall Street Zen upgraded BBB Foods from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. HSBC upgraded BBB Foods from a “hold” rating to a “buy” rating and boosted their price target for the stock from $38.00 to $47.00 in a research report on Wednesday, May 27th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of BBB Foods in a report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, BBB Foods currently has an average rating of “Moderate Buy” and a consensus price target of $45.12.

BBB Foods Price Performance

The company has a market cap of $5.66 billion and a PE ratio of -29.66. The company has a debt-to-equity ratio of 2.16, a current ratio of 0.68 and a quick ratio of 0.35. The stock has a fifty day moving average price of $41.55 and a 200-day moving average price of $38.10.

BBB Foods (NYSE:TBBB) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.03). The company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.42 billion. BBB Foods had a negative net margin of 3.68% and a negative return on equity of 72.47%. On average, equities analysts expect that BBB Foods Inc. will post -0.61 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Orbis Allan Gray Ltd acquired a new stake in BBB Foods in the 4th quarter valued at approximately $109,810,000. Principal Financial Group Inc. bought a new stake in shares of BBB Foods in the first quarter valued at approximately $65,967,000. Wasatch Advisors LP grew its stake in shares of BBB Foods by 314.6% in 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 last quarter. Duquesne Family Office LLC grew 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 worth $31,897,000 after acquiring an additional 822,575 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in BBB Foods by 296.5% in the 4th quarter. Millennium Management LLC now owns 778,613 shares of the company’s stock valued at $25,998,000 after purchasing an additional 582,262 shares during the period. Institutional investors and hedge funds 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.