BBB Foods Inc. (NYSE:TBBB) Sees Significant Growth in Short Interest

BBB Foods Inc. (NYSE:TBBB) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totaling 4,044,746 shares, an increase of 27.6% from the November 30th total of 3,169,318 shares. Based on an average daily volume of 731,715 shares, the days-to-cover ratio is currently 5.5 days. Currently, 3.5% of the company’s shares are short sold. Currently, 3.5% of the company’s shares are short sold. Based on an average daily volume of 731,715 shares, the days-to-cover ratio is currently 5.5 days.

Analyst Upgrades and Downgrades

TBBB has been the topic of several research reports. Zacks Research upgraded shares of BBB Foods from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 9th. JPMorgan Chase & Co. lifted their price objective on shares of BBB Foods from $35.50 to $39.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. The Goldman Sachs Group lifted their price target on BBB Foods from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, December 18th. Weiss Ratings reissued a “sell (d+)” rating on shares of BBB Foods in a research report on Monday. Finally, Wall Street Zen upgraded BBB Foods from a “sell” rating to a “hold” rating in a research note on Saturday, December 20th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $35.80.

Institutional Trading of BBB Foods

Institutional investors have recently made changes to their positions in the stock. Ashoka WhiteOak Capital Pte Ltd grew its holdings in shares of BBB Foods by 100.7% in the second quarter. Ashoka WhiteOak Capital Pte Ltd now owns 57,800 shares of the company’s stock worth $1,587,000 after purchasing an additional 29,000 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of BBB Foods by 276.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 156,526 shares of the company’s stock worth $4,176,000 after buying an additional 114,990 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of BBB Foods during the second quarter valued at $819,000. The Manufacturers Life Insurance Company raised its holdings in shares of BBB Foods by 28.3% in the first quarter. The Manufacturers Life Insurance Company now owns 702,571 shares of the company’s stock valued at $18,745,000 after acquiring an additional 154,929 shares in the last quarter. Finally, TT International Asset Management LTD lifted its stake in BBB Foods by 19.6% in the second quarter. TT International Asset Management LTD now owns 683,977 shares of the company’s stock worth $18,987,000 after acquiring an additional 111,978 shares during the period. Hedge funds and other institutional investors own 8.42% of the company’s stock.

BBB Foods Price Performance

Shares of BBB Foods stock opened at $33.56 on Wednesday. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.39 and a current ratio of 0.65. BBB Foods has a 52-week low of $23.00 and a 52-week high of $35.38. The company has a fifty day moving average of $31.16 and a 200-day moving average of $27.88. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of -39.95 and a beta of -0.15.

BBB Foods (NYSE:TBBB) last posted its quarterly earnings results on Wednesday, November 19th. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.23). BBB Foods had a negative net margin of 2.61% and a negative return on equity of 44.56%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. Equities research analysts expect that BBB Foods will post 0.15 EPS 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. The company also provides branded, private label, and spot products. It serves low-to-middle income households through online channels.