Short Interest in BBB Foods Inc. (NYSE:TBBB) Grows By 48.7%

BBB Foods Inc. (NYSE:TBBB) was the target of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 2,230,000 shares, a growth of 48.7% from the March 15th total of 1,500,000 shares. Based on an average daily trading volume, of 1,020,000 shares, the short-interest ratio is presently 2.2 days. Approximately 3.6% of the company’s shares are short sold.

Analysts Set New Price Targets

Several research analysts recently weighed in on TBBB shares. Scotiabank set a $37.00 price objective on shares of BBB Foods and gave the stock an “outperform” rating in a research note on Friday, April 11th. Itau BBA Securities initiated coverage on shares of BBB Foods in a report on Wednesday, January 22nd. They issued a “market perform” rating and a $32.00 price target for the company. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $33.00.

Hedge Funds Weigh In On BBB Foods

Several hedge funds have recently modified their holdings of the stock. 12 West Capital Management LP bought a new position in shares of BBB Foods in the 4th quarter valued at about $48,544,000. Capital Research Global Investors lifted its stake in BBB Foods by 37.3% in the 4th quarter. Capital Research Global Investors now owns 5,330,214 shares of the company’s stock valued at $150,738,000 after purchasing an additional 1,448,093 shares during the last quarter. FMR LLC grew its holdings in BBB Foods by 33.6% during the fourth quarter. FMR LLC now owns 3,494,773 shares of the company’s stock worth $98,832,000 after purchasing an additional 878,003 shares during the period. Ameriprise Financial Inc. increased its position in BBB Foods by 146.1% during the fourth quarter. Ameriprise Financial Inc. now owns 943,857 shares of the company’s stock worth $26,692,000 after buying an additional 560,280 shares during the last quarter. Finally, Driehaus Capital Management LLC raised its stake in BBB Foods by 17.4% in the fourth quarter. Driehaus Capital Management LLC now owns 1,567,285 shares of the company’s stock valued at $44,323,000 after buying an additional 232,443 shares during the period. Institutional investors own 8.42% of the company’s stock.

BBB Foods Stock Performance

TBBB opened at $25.96 on Friday. 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 business’s 50-day moving average price is $26.34 and its two-hundred day moving average price is $29.18. BBB Foods has a 1 year low of $19.67 and a 1 year high of $35.22.

BBB Foods (NYSE:TBBB) last released its quarterly earnings results on Wednesday, April 9th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($1.03). The business had revenue of $784.03 million during the quarter, compared to analysts’ expectations of $16.87 billion. On average, equities research analysts anticipate that BBB Foods will post 0.15 earnings per share for the current year.

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.