BBB Foods (NYSE:TBBB) Given New $39.00 Price Target at JPMorgan Chase & Co.

BBB Foods (NYSE:TBBB) had its price target raised by JPMorgan Chase & Co. from $35.50 to $39.00 in a report published on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Wall Street Zen downgraded BBB Foods from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Zacks Research upgraded BBB Foods from a “strong sell” rating to a “hold” rating in a report on Friday, October 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BBB Foods in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group upgraded shares of BBB Foods to a “hold” rating in a research report on Wednesday, July 9th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, BBB Foods has a consensus rating of “Hold” and an average price target of $34.80.

BBB Foods Stock Performance

Shares of TBBB opened at $28.56 on Monday. The firm has a 50-day moving average price of $26.03 and a 200 day moving average price of $26.91. The firm has a market capitalization of $3.26 billion, a PE ratio of -357.01 and a beta of -0.03. The company has a quick ratio of 0.44, a current ratio of 0.69 and a debt-to-equity ratio of 2.08. BBB Foods has a 52-week low of $23.00 and a 52-week high of $35.22.

BBB Foods (NYSE:TBBB) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.09). The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $17.98 billion. BBB Foods had a negative return on equity of 3.07% and a negative net margin of 0.19%. On average, sell-side analysts anticipate that BBB Foods will post 0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BBB Foods

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Verdence Capital Advisors LLC raised its position in BBB Foods by 6.2% during the second quarter. Verdence Capital Advisors LLC now owns 9,095 shares of the company’s stock valued at $252,000 after buying an additional 529 shares during the period. Tempus Wealth Planning LLC grew its stake in BBB Foods by 4.7% during the 1st quarter. Tempus Wealth Planning LLC now owns 12,703 shares of the company’s stock valued at $339,000 after acquiring an additional 571 shares in the last quarter. Blue Trust Inc. grew its stake in BBB Foods by 6.2% during the 3rd quarter. Blue Trust Inc. now owns 11,170 shares of the company’s stock valued at $301,000 after acquiring an additional 657 shares in the last quarter. J.Safra Asset Management Corp increased its holdings in shares of BBB Foods by 6.4% in the 1st quarter. J.Safra Asset Management Corp now owns 10,925 shares of the company’s stock valued at $291,000 after purchasing an additional 661 shares during the period. Finally, Osaic Holdings Inc. purchased a new stake in shares of BBB Foods in the second quarter worth approximately $25,000. 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.