BBB Foods (NYSE:TBBB) Price Target Raised to $48.00 at JPMorgan Chase & Co.

BBB Foods (NYSE:TBBB) had its target price upped by JPMorgan Chase & Co. from $46.00 to $48.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 21.20% from the company’s current price.

Several other equities research analysts also recently weighed in on the company. HSBC raised BBB Foods from a “hold” rating to a “buy” rating and upped their target price for the stock from $38.00 to $47.00 in a research report on Wednesday, May 27th. Zacks Research upgraded shares of BBB Foods from a “strong sell” rating to a “hold” rating in a research note on Monday. Weiss Ratings restated a “sell (d+)” rating on shares of BBB Foods in a research note on Wednesday, June 24th. Scotiabank raised their target price on BBB Foods from $37.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Finally, Wall Street Zen upgraded BBB Foods from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $43.43.

BBB Foods Trading Down 0.2%

Shares of TBBB stock traded down $0.07 on Thursday, reaching $39.60. 158,668 shares of the stock were exchanged, compared to its average volume of 649,181. BBB Foods has a 1-year low of $23.81 and a 1-year high of $43.81. The stock has a market cap of $4.70 billion, a P/E ratio of -25.55 and a beta of -0.02. The company has a quick ratio of 0.35, a current ratio of 0.60 and a debt-to-equity ratio of 2.76. The firm has a 50 day moving average of $39.51 and a two-hundred day moving average of $36.87.

BBB Foods (NYSE:TBBB) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.03). BBB Foods had a negative net margin of 3.95% and a negative return on equity of 79.86%. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. On average, research analysts anticipate that BBB Foods will post -0.61 EPS for the current year.

Institutional Trading of BBB Foods

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its position in BBB Foods by 276.8% during the first quarter. Goldman Sachs Group Inc. now owns 156,526 shares of the company’s stock valued at $4,176,000 after buying an additional 114,990 shares during the period. Qube Research & Technologies Ltd raised its stake in BBB Foods by 48.4% in the second quarter. Qube Research & Technologies Ltd now owns 285,206 shares of the company’s stock worth $7,917,000 after buying an additional 92,989 shares in the last quarter. Sei Investments Co. lifted its holdings in BBB Foods by 57.7% in the second quarter. Sei Investments Co. now owns 417,794 shares of the company’s stock worth $11,598,000 after buying an additional 152,883 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in BBB Foods by 0.3% in the second quarter. The Manufacturers Life Insurance Company now owns 705,005 shares of the company’s stock worth $19,571,000 after buying an additional 2,434 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of BBB Foods by 32.3% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 171,979 shares of the company’s stock worth $4,774,000 after acquiring an additional 41,979 shares during the period. Institutional investors and hedge funds own 8.42% of the company’s stock.

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. The company also provides branded, private label, and spot products. It serves low-to-middle income households through online channels.