BBB Foods (NYSE:TBBB) Upgraded at HSBC

BBB Foods (NYSE:TBBB) was upgraded by analysts at HSBC from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, Marketbeat reports. The firm currently has a $47.00 price objective on the stock. HSBC’s price objective points to a potential upside of 34.22% from the company’s previous close.

A number of other equities analysts have also issued reports on TBBB. UBS Group increased their target price on shares of BBB Foods from $31.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. Zacks Research cut shares of BBB Foods from a “hold” rating to a “strong sell” rating in a report on Monday, March 23rd. Morgan Stanley upgraded shares of BBB Foods to an “overweight” rating in a research note on Wednesday, January 28th. Weiss Ratings restated a “sell (d+)” rating on shares of BBB Foods in a research report on Friday, March 27th. Finally, JPMorgan Chase & Co. increased their price target on BBB Foods from $44.00 to $46.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $43.14.

BBB Foods Stock Performance

BBB Foods stock traded up $0.63 during mid-day trading on Wednesday, hitting $35.02. 18,679 shares of the company’s stock traded hands, compared to its average volume of 557,697. The company has a quick ratio of 0.35, a current ratio of 0.62 and a debt-to-equity ratio of 2.61. BBB Foods has a one year low of $23.81 and a one year high of $40.09. The firm has a 50 day moving average price of $36.12 and a 200 day moving average price of $34.61. The company has a market cap of $4.09 billion, a PE ratio of -22.62 and a beta of 0.02.

BBB Foods (NYSE:TBBB) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.03). The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. BBB Foods had a negative return on equity of 82.15% and a negative net margin of 3.95%. On average, equities analysts forecast that BBB Foods will post -0.61 EPS for the current year.

Hedge Funds Weigh In On BBB Foods

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its holdings in BBB Foods by 276.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 156,526 shares of the company’s stock worth $4,176,000 after buying an additional 114,990 shares during the period. Qube Research & Technologies Ltd increased its position in shares of BBB Foods by 48.4% in the second quarter. Qube Research & Technologies Ltd now owns 285,206 shares of the company’s stock worth $7,917,000 after acquiring an additional 92,989 shares in the last quarter. Sei Investments Co. increased its position in shares of BBB Foods by 57.7% in the second quarter. Sei Investments Co. now owns 417,794 shares of the company’s stock worth $11,598,000 after acquiring an additional 152,883 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of BBB Foods by 0.3% during the second quarter. The Manufacturers Life Insurance Company now owns 705,005 shares of the company’s stock valued at $19,571,000 after acquiring an additional 2,434 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of BBB Foods by 32.3% in the 2nd 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 in the last quarter. Institutional investors and hedge funds own 8.42% of the company’s stock.

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.