Federated Hermes Inc. Invests $143,000 in BBB Foods Inc. (NYSE:TBBB)

Federated Hermes Inc. acquired a new position in BBB Foods Inc. (NYSE:TBBB) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 6,000 shares of the company’s stock, valued at approximately $143,000.

A number of other institutional investors have also made changes to their positions in TBBB. J.Safra Asset Management Corp acquired a new stake in BBB Foods during the first quarter worth about $32,000. Hood River Capital Management LLC acquired a new stake in BBB Foods during the first quarter worth about $54,000. National Bank of Canada FI acquired a new stake in BBB Foods during the second quarter worth about $103,000. Quent Capital LLC acquired a new stake in BBB Foods during the second quarter worth about $167,000. Finally, State of New Jersey Common Pension Fund D grew its position in BBB Foods by 50.6% during the second quarter. State of New Jersey Common Pension Fund D now owns 40,001 shares of the company’s stock worth $954,000 after buying an additional 13,447 shares in the last quarter. 8.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on TBBB shares. JPMorgan Chase & Co. lifted their target price on BBB Foods from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Scotiabank lifted their target price on BBB Foods from $33.00 to $36.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 31st. HSBC raised BBB Foods from a “reduce” rating to a “hold” rating and set a $31.00 price objective on the stock in a report on Friday, August 23rd. Hsbc Global Res raised BBB Foods from a “strong sell” rating to a “hold” rating in a report on Friday, August 23rd. Finally, Jefferies Financial Group initiated coverage on BBB Foods in a report on Monday, September 9th. They set a “hold” rating and a $33.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $30.57.

BBB Foods Stock Performance

Shares of BBB Foods stock opened at $31.55 on Thursday. The firm has a fifty day moving average of $28.83 and a two-hundred day moving average of $25.34. BBB Foods Inc. has a 52 week low of $18.71 and a 52 week high of $33.16. The company has a current ratio of 0.79, a quick ratio of 0.54 and a debt-to-equity ratio of 1.85.

BBB Foods (NYSE:TBBB) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.15. The firm had revenue of $788.28 million during the quarter, compared to analyst estimates of $708.69 million. As a group, equities research analysts forecast that BBB Foods Inc. will post 0.14 earnings per share for the current year.

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.