Carmignac Gestion Grows Stock Position in BBB Foods Inc. $TBBB

Carmignac Gestion increased its stake in shares of BBB Foods Inc. (NYSE:TBBB) by 526.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 670,106 shares of the company’s stock after purchasing an additional 563,141 shares during the quarter. Carmignac Gestion’s holdings in BBB Foods were worth $27,917,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Osaic Holdings Inc. acquired a new stake in BBB Foods in the 2nd quarter valued at about $25,000. Larson Financial Group LLC grew 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 buying an additional 893 shares in the last quarter. Smartleaf Asset Management LLC purchased a new stake in shares of BBB Foods during the fourth quarter worth approximately $39,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of BBB Foods during the fourth quarter worth approximately $89,000. Finally, Global Retirement Partners LLC acquired a new stake in BBB Foods in the fourth quarter valued at approximately $136,000. Hedge funds and other institutional investors own 8.42% of the company’s stock.

BBB Foods Stock Up 2.0%

Shares of BBB Foods stock traded up $0.97 during trading hours on Tuesday, hitting $50.74. The company had a trading volume of 555,322 shares, compared to its average volume of 660,560. The company’s 50-day moving average is $44.09 and its two-hundred day moving average is $39.52. BBB Foods Inc. has a twelve month low of $23.81 and a twelve month high of $51.62. The company has a debt-to-equity ratio of 2.16, a current ratio of 0.68 and a quick ratio of 0.44. The company has a market cap of $6.02 billion, a P/E ratio of -31.52 and a beta of 0.05.

BBB Foods (NYSE:TBBB) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.03). BBB Foods had a negative return on equity of 72.47% and a negative net margin of 3.68%.The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.42 billion. Analysts anticipate that BBB Foods Inc. will post -0.63 earnings per share for the current fiscal year.

Insider Activity at BBB Foods

In other news, Director Sapire Rose Nicole Domin Reich sold 7,623 shares of BBB Foods stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $50.50, for a total transaction of $384,961.50. Following the sale, the director owned 7,623 shares in the company, valued at approximately $384,961.50. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Analysts Set New Price Targets

Several research analysts have commented on TBBB shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of BBB Foods in a report on Wednesday, June 24th. HSBC upgraded shares of BBB Foods from a “hold” rating to a “buy” rating and raised their price objective for the company from $38.00 to $47.00 in a report on Wednesday, May 27th. Citigroup initiated coverage on shares of BBB Foods in a research note on Friday, July 31st. They set a “buy” rating and a $49.00 target price for the company. Wall Street Zen upgraded BBB Foods from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, UBS Group upped their price objective on BBB Foods from $51.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. One investment 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, BBB Foods currently has an average rating of “Moderate Buy” and a consensus price target of $48.12.

BBB Foods 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.