BBB Foods (NYSE:TBBB) Shares Down 9% Following Weak Earnings

BBB Foods Inc. (NYSE:TBBB)’s share price dropped 9% during trading on Thursday following a dissappointing earnings announcement. The stock traded as low as $31.30 and last traded at $30.96. Approximately 200,042 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 637,823 shares. The stock had previously closed at $34.03.

The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.22). The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.24 billion. BBB Foods had a negative return on equity of 44.56% and a negative net margin of 2.61%.

Analyst Ratings Changes

Several analysts have recently weighed in on TBBB shares. Morgan Stanley upgraded shares of BBB Foods to an “overweight” rating in a research report on Wednesday, January 28th. UBS Group lifted their target price on BBB Foods from $31.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, February 20th. Weiss Ratings reissued a “sell (d+)” rating on shares of BBB Foods in a research report on Monday, December 29th. Zacks Research upgraded BBB Foods from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 5th. Finally, The Goldman Sachs Group raised their target price on shares of BBB Foods from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, December 18th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, BBB Foods has a consensus rating of “Hold” and a consensus target price of $39.00.

Institutional Investors Weigh In On BBB Foods

Several hedge funds have recently modified their holdings of the stock. Toth Financial Advisory Corp raised its position in BBB Foods by 29.0% during the 4th quarter. Toth Financial Advisory Corp now owns 1,600 shares of the company’s stock worth $53,000 after buying an additional 360 shares during the last quarter. Farther Finance Advisors LLC lifted its position in BBB Foods by 92.5% in the fourth quarter. Farther Finance Advisors LLC now owns 824 shares of the company’s stock valued at $28,000 after purchasing an additional 396 shares during the period. J.Safra Asset Management Corp boosted its holdings in BBB Foods by 3.5% in the 3rd quarter. J.Safra Asset Management Corp now owns 12,441 shares of the company’s stock valued at $335,000 after purchasing an additional 423 shares in the last quarter. Verdence Capital Advisors LLC raised its stake in shares of BBB Foods by 5.3% during the 3rd quarter. Verdence Capital Advisors LLC now owns 9,579 shares of the company’s stock worth $279,000 after buying an additional 484 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of BBB Foods by 26.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,869 shares of the company’s stock valued at $75,000 after buying an additional 593 shares during the period. 8.42% of the stock is owned by institutional investors and hedge funds.

BBB Foods Stock Performance

The stock has a 50 day moving average of $35.30 and a two-hundred day moving average of $31.13. The stock has a market capitalization of $3.52 billion, a PE ratio of -36.83 and a beta of -0.16. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.65 and a quick ratio of 0.39.

BBB Foods Company 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.