LB Partners LLC Takes Position in BBB Foods Inc. $TBBB

LB Partners LLC purchased a new position in shares of BBB Foods Inc. (NYSE:TBBB) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 35,000 shares of the company’s stock, valued at approximately $1,238,000. BBB Foods accounts for about 1.1% of LB Partners LLC’s investment portfolio, making the stock its 19th largest position.

Several other hedge funds have also recently modified their holdings of TBBB. Goldman Sachs Group Inc. lifted its stake in BBB Foods by 276.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 156,526 shares of the company’s stock valued at $4,176,000 after buying an additional 114,990 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in BBB Foods by 48.4% during the 2nd quarter. Qube Research & Technologies Ltd now owns 285,206 shares of the company’s stock worth $7,917,000 after buying an additional 92,989 shares in the last quarter. Sei Investments Co. increased its stake in BBB Foods by 57.7% during the 2nd quarter. Sei Investments Co. now owns 417,794 shares of the company’s stock worth $11,598,000 after buying an additional 152,883 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in BBB Foods by 0.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 705,005 shares of the company’s stock worth $19,571,000 after buying an additional 2,434 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of 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 valued at $4,774,000 after acquiring an additional 41,979 shares during the last quarter. Institutional investors and hedge funds own 8.42% of the company’s stock.

Wall Street Analysts Forecast Growth

TBBB has been the topic of several research reports. Wall Street Zen upgraded BBB Foods from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reiterated a “sell (d+)” rating on shares of BBB Foods in a research report on Wednesday, June 24th. Zacks Research downgraded BBB Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, March 23rd. Scotiabank raised their price objective on BBB Foods from $37.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Finally, JPMorgan Chase & Co. lifted 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 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 company. According to MarketBeat.com, BBB Foods currently has a consensus rating of “Hold” and an average price target of $43.14.

BBB Foods Stock Up 0.2%

Shares of NYSE TBBB opened at $41.74 on Thursday. The stock has a market cap of $4.95 billion, a PE ratio of -26.93 and a beta of -0.02. The company has a current ratio of 0.60, a quick ratio of 0.35 and a debt-to-equity ratio of 2.76. BBB Foods Inc. has a 12-month low of $23.81 and a 12-month high of $43.81. The company has a 50-day moving average of $38.70 and a 200 day moving average of $36.32.

BBB Foods (NYSE:TBBB) last released its earnings results 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). The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. BBB Foods had a negative return on equity of 79.86% and a negative net margin of 3.95%. As a group, sell-side analysts predict that BBB Foods Inc. will post -0.61 EPS for the current fiscal year.

BBB Foods 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.