Principal Financial Group Inc. Makes New $65.97 Million Investment in BBB Foods Inc. $TBBB

Principal Financial Group Inc. bought a new stake in BBB Foods Inc. (NYSE:TBBB) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 1,865,059 shares of the company’s stock, valued at approximately $65,967,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in TBBB. Orbis Allan Gray Ltd bought a new stake in shares of BBB Foods during the 4th quarter worth approximately $109,810,000. Wasatch Advisors LP increased its stake in BBB Foods by 314.6% in the second quarter. Wasatch Advisors LP now owns 2,192,012 shares of the company’s stock valued at $60,850,000 after acquiring an additional 1,663,338 shares during the last quarter. Duquesne Family Office LLC increased its stake in 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 during the last quarter. Millennium Management LLC raised its position in BBB Foods by 296.5% during the fourth 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 in the last quarter. Finally, Nuveen LLC acquired a new position in BBB Foods during the fourth quarter valued at approximately $14,626,000. 8.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TBBB. Zacks Research raised BBB Foods from a “strong sell” rating to a “hold” rating in a report on Monday. Wall Street Zen raised BBB Foods from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Scotiabank upped their price objective on BBB Foods from $37.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. HSBC upgraded BBB Foods from a “hold” rating to a “buy” rating and lifted their target price for the company from $38.00 to $47.00 in a research report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. boosted their target price on BBB Foods from $46.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, BBB Foods has a consensus rating of “Hold” and an average price target of $43.43.

BBB Foods Stock Up 1.6%

Shares of TBBB opened at $40.33 on Friday. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.35 and a current ratio of 0.60. BBB Foods Inc. has a 52 week low of $23.81 and a 52 week high of $43.81. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of -26.02 and a beta of -0.02. The stock has a fifty day moving average of $39.55 and a 200-day moving average of $36.91.

BBB Foods (NYSE:TBBB) last issued 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 firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. As a group, sell-side analysts anticipate that BBB Foods Inc. will post -0.61 earnings per share 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.