1,121,446 Shares of BBB Foods Inc. $TBBB Acquired by Ninety One UK Ltd

Ninety One UK Ltd bought a new stake in shares of BBB Foods Inc. (NYSE:TBBB) in the third quarter, Holdings Channel reports. The fund bought 1,121,446 shares of the company’s stock, valued at approximately $59,033,000.

Other hedge funds have also added to or reduced their stakes in the company. Wasatch Advisors LP increased its position in shares of BBB Foods by 3.4% during the second quarter. Wasatch Advisors LP now owns 4,239,474 shares of the company’s stock valued at $176,659,000 after buying an additional 139,649 shares during the period. Principal Financial Group Inc. bought a new position in shares of BBB Foods in the first quarter valued at approximately $65,967,000. Carmignac Gestion boosted its position in shares of BBB Foods by 526.5% in the second quarter. Carmignac Gestion now owns 670,106 shares of the company’s stock valued at $27,917,000 after acquiring an additional 563,141 shares during the period. Sei Investments Co. boosted its position in shares of BBB Foods by 10.7% in the first quarter. Sei Investments Co. now owns 748,627 shares of the company’s stock valued at $26,479,000 after acquiring an additional 72,646 shares during the period. Finally, Engle Capital Management L.P. grew its stake in BBB Foods by 1.8% during the fourth quarter. Engle Capital Management L.P. now owns 750,000 shares of the company’s stock valued at $25,042,000 after acquiring an additional 13,231 shares in the last quarter. Hedge funds and other institutional investors own 8.42% of the company’s stock.

Insider Buying and Selling at BBB Foods

In related news, Director Sapire Rose Nicole Domin Reich sold 7,623 shares of the business’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $51.00, for a total transaction of $388,773.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

BBB Foods Trading Up 0.1%

Shares of TBBB stock traded up $0.05 during trading hours on Thursday, reaching $56.41. The company’s stock had a trading volume of 392,757 shares, compared to its average volume of 666,206. The company has a current ratio of 0.68, a quick ratio of 0.44 and a debt-to-equity ratio of 2.16. BBB Foods Inc. has a one year low of $25.84 and a one year high of $57.30. The stock has a market capitalization of $6.69 billion, a P/E ratio of -35.02 and a beta of 0.02. The firm’s fifty day simple moving average is $50.40 and its 200 day simple moving average is $42.95.

BBB Foods (NYSE:TBBB) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.03). BBB Foods had a negative net margin of 3.68% and a negative return on equity of 72.47%. The company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Equities research analysts expect that BBB Foods Inc. will post -0.62 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on TBBB shares. JPMorgan Chase & Co. upped their target price on shares of BBB Foods from $48.00 to $67.00 and gave the stock an “overweight” rating in a report on Thursday, September 10th. Scotiabank reissued an “outperform” rating and issued a $65.00 price target on shares of BBB Foods in a report on Thursday, August 27th. Citigroup reissued a “buy” rating on shares of BBB Foods in a report on Monday, September 14th. UBS Group boosted their price target on shares of BBB Foods from $51.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Finally, Zacks Research raised shares of BBB Foods from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.50.

BBB Foods 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.