BBB Foods (NYSE:TBBB) Stock Price Down 6% – Time to Sell?

BBB Foods Inc. (NYSE:TBBB)’s share price dropped 6% during mid-day trading on Thursday . The company traded as low as $33.41 and last traded at $33.98. Approximately 167,116 shares changed hands during trading, a decline of 70% from the average daily volume of 558,612 shares. The stock had previously closed at $36.14.

Wall Street Analyst Weigh In

TBBB has been the topic of a number of research analyst reports. HSBC upgraded BBB Foods from a “hold” rating to a “buy” rating and increased their price target for the stock from $38.00 to $47.00 in a report on Wednesday. Weiss Ratings restated a “sell (d+)” rating on shares of BBB Foods in a report on Friday, March 27th. UBS Group increased their price target on BBB Foods from $31.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. Wells Fargo & Company set a $42.00 price target on BBB Foods in a report on Friday, March 13th. Finally, Zacks Research cut BBB Foods from a “hold” rating to a “strong sell” rating in a report on Monday, March 23rd. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, BBB Foods currently has an average rating of “Hold” and a consensus target price of $43.14.

BBB Foods Price Performance

The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.35 and a current ratio of 0.62. The business has a fifty day simple moving average of $36.17 and a 200-day simple moving average of $34.67. The stock has a market capitalization of $3.98 billion, a P/E ratio of -21.97 and a beta of 0.02.

BBB Foods (NYSE:TBBB) last issued its earnings results 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 82.15% and a negative net margin of 3.95%.The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. Sell-side analysts expect that BBB Foods Inc. will post -0.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BBB Foods

A number of institutional investors have recently modified their holdings of TBBB. Osaic Holdings Inc. acquired a new position in shares of BBB Foods during the second quarter worth approximately $25,000. Farther Finance Advisors LLC raised its position in shares of BBB Foods by 92.5% during the fourth quarter. Farther Finance Advisors LLC now owns 824 shares of the company’s stock worth $28,000 after purchasing an additional 396 shares during the period. Larson Financial Group LLC raised its position in shares of BBB Foods by 547.9% during the third quarter. Larson Financial Group LLC now owns 1,056 shares of the company’s stock worth $28,000 after purchasing an additional 893 shares during the period. Smartleaf Asset Management LLC acquired a new position in shares of BBB Foods during the fourth quarter worth approximately $39,000. Finally, Toth Financial Advisory Corp raised its position in shares of BBB Foods by 29.0% during the fourth quarter. Toth Financial Advisory Corp now owns 1,600 shares of the company’s stock worth $53,000 after purchasing an additional 360 shares during the period. 8.42% of the stock is owned by institutional investors and hedge funds.

About BBB Foods

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.