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

BBB Foods Inc. (NYSE:TBBB) shares reached a new 52-week high during trading on Monday . The stock traded as high as $43.81 and last traded at $42.25, with a volume of 418194 shares changing hands. The stock had previously closed at $42.10.

Wall Street Analyst Weigh In

TBBB has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price target on BBB Foods from $44.00 to $46.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Weiss Ratings restated a “sell (d+)” rating on shares of BBB Foods in a research note on Friday, March 27th. Wall Street Zen raised shares of BBB Foods from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Itau BBA Securities raised shares of BBB Foods from a “market perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research note on Friday, March 13th. Finally, HSBC upgraded shares of BBB Foods from a “hold” rating to a “buy” rating and boosted their price target for the stock from $38.00 to $47.00 in a research report on Wednesday, May 27th. Five investment 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. Based on data from MarketBeat, BBB Foods presently has an average rating of “Hold” and an average price target of $43.14.

BBB Foods Stock Down 0.6%

The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.35 and a current ratio of 0.60. The stock has a 50 day moving average price of $37.93 and a 200 day moving average price of $35.85. The company has a market cap of $4.96 billion, a P/E ratio of -26.99 and a beta of 0.03.

BBB Foods (NYSE:TBBB) last released its earnings results on Wednesday, May 6th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03). BBB Foods had a negative return on equity of 79.86% 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. Research 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

Several hedge funds have recently made changes to their positions in TBBB. Orbis Allan Gray Ltd acquired a new stake in shares of BBB Foods during the fourth quarter worth $109,810,000. Principal Financial Group Inc. purchased a new position in BBB Foods in the 1st quarter worth about $65,967,000. Wasatch Advisors LP raised its holdings in BBB Foods by 314.6% during the 2nd quarter. Wasatch Advisors LP now owns 2,192,012 shares of the company’s stock worth $60,850,000 after buying an additional 1,663,338 shares during the period. 12 West Capital Management LP lifted its stake in BBB Foods by 39.8% during the third quarter. 12 West Capital Management LP now owns 3,382,770 shares of the company’s stock valued at $91,199,000 after buying an additional 963,712 shares in the last quarter. Finally, Duquesne Family Office LLC boosted its holdings in shares of BBB Foods by 228.1% in the third quarter. Duquesne Family Office LLC now owns 1,183,125 shares of the company’s stock worth $31,897,000 after buying an additional 822,575 shares during the period. Institutional investors and hedge funds own 8.42% of the company’s stock.

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.