BBB Foods (NYSE:TBBB) Shares Gap Down – What’s Next?

Shares of BBB Foods Inc. (NYSE:TBBB) gapped down before the market opened on Tuesday . The stock had previously closed at $31.23, but opened at $29.81. BBB Foods shares last traded at $29.05, with a volume of 316,047 shares changing hands.

Analysts Set New Price Targets

Separately, Itau BBA Securities assumed coverage on BBB Foods in a report on Wednesday, January 22nd. They set a “market perform” rating and a $32.00 target price for the company. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, BBB Foods presently has a consensus rating of “Hold” and an average target price of $30.75.

BBB Foods Stock Down 3.1 %

The company has a debt-to-equity ratio of 1.72, a current ratio of 0.79 and a quick ratio of 0.54. The company has a 50-day simple moving average of $29.61 and a two-hundred day simple moving average of $30.18.

BBB Foods (NYSE:TBBB) last posted its earnings results on Monday, November 25th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.07. On average, equities analysts predict that BBB Foods Inc. will post 0.15 EPS for the current year.

Institutional Investors Weigh In On BBB Foods

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TBBB. Verdence Capital Advisors LLC purchased a new stake in shares of BBB Foods in the third quarter worth $224,000. Virtu Financial LLC bought a new position in shares of BBB Foods during the third quarter valued at $230,000. Tempus Wealth Planning LLC bought a new position in shares of BBB Foods during the fourth quarter valued at $343,000. SG Americas Securities LLC bought a new position in shares of BBB Foods during the fourth quarter valued at $375,000. Finally, XTX Topco Ltd lifted its holdings in shares of BBB Foods by 95.9% during the third quarter. XTX Topco Ltd now owns 23,756 shares of the company’s stock valued at $713,000 after purchasing an additional 11,632 shares in the last quarter. 8.42% of the stock is owned by hedge funds and other institutional investors.

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.