BBB Foods (NYSE:TBBB) Sets New 12-Month High After Strong Earnings

Shares of BBB Foods Inc. (NYSE:TBBB) reached a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $60.00 and last traded at $59.3480, with a volume of 189,527 shares trading hands. The stock had previously closed at $56.97.

The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.10) by $0.11. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.53 billion. BBB Foods had a negative net margin of 3.68% and a negative return on equity of 72.47%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TBBB. Scotiabank reissued an “outperform” rating and set a $65.00 price target on shares of BBB Foods in a research note on Thursday, August 27th. Weiss Ratings upgraded BBB Foods from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Zacks Research raised BBB Foods from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. UBS Group upped their price objective on BBB Foods from $58.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, October 21st. Finally, Citigroup reiterated a “buy” rating on shares of BBB Foods in a research report on Monday, September 14th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $51.88.

Insider Activity at BBB Foods

In other news, Director Sapire Rose Nicole Domin Reich sold 7,623 shares of the business’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $51.00, for a total value of $388,773.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TBBB. Wasatch Advisors LP grew its position in BBB Foods by 3.4% in the second quarter. Wasatch Advisors LP now owns 4,239,474 shares of the company’s stock worth $176,659,000 after acquiring an additional 139,649 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in BBB Foods during the first quarter valued at approximately $65,967,000. Ninety One UK Ltd purchased a new stake in BBB Foods during the third quarter valued at approximately $59,033,000. Carmignac Gestion raised its position in BBB Foods by 526.5% during the second quarter. Carmignac Gestion now owns 670,106 shares of the company’s stock valued at $27,917,000 after purchasing an additional 563,141 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of BBB Foods by 10.7% in the 1st quarter. Sei Investments Co. now owns 748,627 shares of the company’s stock valued at $26,479,000 after purchasing an additional 72,646 shares during the last quarter. Institutional investors own 8.42% of the company’s stock.

BBB Foods Price Performance

The firm has a market capitalization of $7.17 billion, a P/E ratio of -37.55 and a beta of 0.02. The firm has a 50 day moving average price of $53.34 and a 200-day moving average price of $41.98. The company has a current ratio of 0.68, a quick ratio of 0.44 and a debt-to-equity ratio of 2.16.

About BBB Foods

BBB Foods Inc operates Tiendas 3B, a hard-discount grocery retail chain in Mexico. Its stores focus on everyday consumer essentials, including food, beverages, household products and personal-care items, offered primarily through a combination of private-label and selected national-brand products.

The company’s business model emphasizes a limited assortment, compact store formats and value-oriented pricing. Tiendas 3B stores primarily serve communities in Mexico, with a presence concentrated in the country’s central and southern regions.

BBB Foods was founded in 2004 and is led by Anthony Hatoum, who serves as the company’s chief executive officer.