BBB Foods (NYSE:TBBB) Issues Quarterly Earnings Results

BBB Foods (NYSE:TBBB) posted its quarterly earnings results on Wednesday. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.03), Zacks reports. BBB Foods had a negative return on equity of 79.86% and a negative net margin of 3.95%.The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.42 billion.

BBB Foods Stock Up 1.6%

Shares of BBB Foods stock traded up $0.65 during trading hours on Wednesday, hitting $42.09. The company had a trading volume of 605,467 shares, compared to its average volume of 629,359. The company has a debt-to-equity ratio of 2.76, a current ratio of 0.60 and a quick ratio of 0.35. The company’s 50-day moving average is $41.11 and its two-hundred day moving average is $37.86. The company has a market cap of $4.99 billion and a P/E ratio of -27.15. BBB Foods has a twelve month low of $23.81 and a twelve month high of $44.58.

Institutional Investors Weigh In On BBB Foods

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. acquired a new position in BBB Foods in the second quarter valued at $25,000. Larson Financial Group LLC increased 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 in the last quarter. Smartleaf Asset Management LLC purchased a new stake in shares of BBB Foods in the 4th quarter valued at about $39,000. State of Wyoming purchased a new stake in shares of BBB Foods in the 4th quarter valued at about $139,000. Finally, Bank of Nova Scotia acquired a new stake in shares of BBB Foods in the 4th quarter valued at about $267,000. 8.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TBBB has been the subject of several recent analyst reports. UBS Group raised shares of BBB Foods from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $43.00 to $51.00 in a research report on Tuesday, August 4th. Scotiabank increased their target price on BBB Foods from $37.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Wall Street Zen raised BBB Foods from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Citigroup started coverage on BBB Foods in a report on Friday, July 31st. They set a “buy” rating and a $49.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price objective on BBB Foods from $46.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, BBB Foods has an average rating of “Moderate Buy” and an average target price of $45.12.

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.