BBB Foods (NYSE:TBBB) Sets New 52-Week High – Time to Buy?

BBB Foods Inc. (NYSE:TBBB) shares hit a new 52-week high during mid-day trading on Monday. The stock traded as high as $54.00 and last traded at $53.9380, with a volume of 249000 shares. The stock had previously closed at $52.65.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. UBS Group boosted their price target on shares of BBB Foods from $51.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. JPMorgan Chase & Co. increased their price objective on shares of BBB Foods from $48.00 to $67.00 and gave the company an “overweight” rating in a report on Thursday, September 10th. Weiss Ratings reissued a “sell (d+)” rating on shares of BBB Foods in a research note on Monday, September 21st. Zacks Research upgraded BBB Foods from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, Scotiabank restated an “outperform” rating and issued a $65.00 price target on shares of BBB Foods in a research report on Thursday, August 27th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $50.50.

BBB Foods Trading Up 2.7%

The business has a 50-day simple moving average of $48.18 and a 200-day simple moving average of $41.75. The company has a market cap of $6.41 billion, a PE ratio of -33.51 and a beta of 0.02. The company has a quick ratio of 0.44, a current ratio of 0.68 and a debt-to-equity ratio of 2.16.

BBB Foods (NYSE:TBBB) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.03). The business had revenue of $1.49 billion during 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, analysts predict that BBB Foods Inc. will post -0.62 EPS for the current fiscal year.

Insider Transactions at BBB Foods

In other BBB Foods news, Director Sapire Rose Nicole Domin Reich sold 7,623 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $51.00, for a total transaction of $388,773.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Institutional Investors Weigh In On BBB Foods

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wasatch Advisors LP boosted its holdings in shares of BBB Foods by 3.4% in the second quarter. Wasatch Advisors LP now owns 4,239,474 shares of the company’s stock valued at $176,659,000 after acquiring an additional 139,649 shares in the last quarter. Principal Financial Group Inc. purchased a new position in BBB Foods during the first quarter worth about $65,967,000. Capital International Inc. CA lifted its position in BBB Foods by 1.3% in the fourth quarter. Capital International Inc. CA now owns 1,022,314 shares of the company’s stock valued at $34,135,000 after purchasing an additional 12,962 shares during the period. Carmignac Gestion boosted its holdings in BBB Foods by 526.5% in the 2nd quarter. Carmignac Gestion now owns 670,106 shares of the company’s stock valued at $27,917,000 after purchasing an additional 563,141 shares in the last quarter. Finally, Sei Investments Co. increased its position in BBB Foods by 10.7% during the 1st quarter. Sei Investments Co. now owns 748,627 shares of the company’s stock worth $26,479,000 after purchasing an additional 72,646 shares during the period. 8.42% of the stock is owned by hedge funds and other institutional investors.

BBB Foods Company Profile

BBB Foods Inc operates Tiendas 3B, a hard-discount grocery retail chain in Mexico. The company serves value-conscious consumers through small-format neighborhood stores focused on convenient locations, a streamlined shopping experience and everyday low prices.

Tiendas 3B stores offer a selection of essential grocery and household products, including packaged foods, beverages, personal-care items, cleaning supplies and other daily necessities. The assortment combines private-label merchandise with branded products, and certain locations also carry fresh or perishable goods.

BBB Foods was established to develop the hard-discount retail model in Mexico and has expanded its store network across the country, primarily in urban and suburban communities.