BBB Foods (NYSE:TBBB) Upgraded at Zacks Research

Zacks Research upgraded shares of BBB Foods (NYSE:TBBB) from a strong sell rating to a hold rating in a research report released on Thursday morning,Zacks.com reports.

Several other brokerages also recently weighed in on TBBB. The Goldman Sachs Group lifted their target price on BBB Foods from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, December 18th. Wall Street Zen cut BBB Foods from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. JPMorgan Chase & Co. lifted their price objective on shares of BBB Foods from $35.50 to $39.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Morgan Stanley raised shares of BBB Foods to an “overweight” rating in a report on Wednesday, January 28th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of BBB Foods in a research report on Monday, December 29th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $35.80.

BBB Foods Trading Up 2.2%

BBB Foods stock opened at $38.99 on Thursday. BBB Foods has a 52-week low of $23.00 and a 52-week high of $39.39. The company has a quick ratio of 0.39, a current ratio of 0.65 and a debt-to-equity ratio of 2.21. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of -46.42 and a beta of -0.14. The firm has a 50-day moving average price of $34.02 and a two-hundred day moving average price of $29.41.

BBB Foods (NYSE:TBBB) last announced its quarterly earnings results on Wednesday, November 19th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.23). The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. BBB Foods had a negative net margin of 2.61% and a negative return on equity of 44.56%. Sell-side analysts expect that BBB Foods will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On BBB Foods

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its holdings in BBB Foods by 276.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 156,526 shares of the company’s stock valued at $4,176,000 after acquiring an additional 114,990 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of BBB Foods by 32.3% in the 2nd quarter. Blue Trust Inc. now owns 10,513 shares of the company’s stock worth $292,000 after purchasing an additional 2,564 shares in the last quarter. Verdence Capital Advisors LLC lifted its stake 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 purchasing an additional 529 shares during the last quarter. J.Safra Asset Management Corp boosted its holdings in BBB Foods by 10.0% during the second quarter. J.Safra Asset Management Corp now owns 12,018 shares of the company’s stock worth $330,000 after buying an additional 1,093 shares in the last quarter. Finally, VELA Investment Management LLC boosted its holdings in BBB Foods by 37.2% during the second quarter. VELA Investment Management LLC now owns 34,300 shares of the company’s stock worth $952,000 after buying an additional 9,300 shares in the last quarter. 8.42% of the stock is currently owned by institutional investors.

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. The company also provides branded, private label, and spot products. It serves low-to-middle income households through online channels.