BBB Foods (NYSE:TBBB – Get Free Report) had its target price increased by investment analysts at JPMorgan Chase & Co. from $48.00 to $67.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 31.54% from the company’s current price.
Other research analysts have also recently issued reports about the company. Citigroup began coverage on BBB Foods in a research report on Friday, July 31st. They set a “buy” rating and a $49.00 price objective on the stock. Scotiabank restated an “outperform” rating and set a $65.00 target price on shares of BBB Foods in a research note on Thursday, August 27th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of BBB Foods in a report on Wednesday, June 24th. UBS Group upped their price target on shares of BBB Foods from $51.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. Finally, Wall Street Zen raised shares of BBB Foods from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, BBB Foods currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.50.
Get Our Latest Analysis on BBB Foods
BBB Foods Stock Performance
BBB Foods (NYSE:TBBB – Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.03). The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.42 billion. BBB Foods had a negative net margin of 3.68% and a negative return on equity of 72.47%. Sell-side analysts forecast that BBB Foods will post -0.63 earnings per share for the current fiscal year.
Insider Transactions at BBB Foods
In other BBB Foods news, Director Sapire Rose Nicole Domin Reich sold 7,623 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $50.50, for a total transaction of $384,961.50. Following the completion of the sale, the director directly owned 7,623 shares of the company’s stock, valued at $384,961.50. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Hedge Funds Weigh In On BBB Foods
Several hedge funds have recently modified their holdings of TBBB. Wasatch Advisors LP boosted its position in shares of BBB Foods by 3.4% during the second quarter. Wasatch Advisors LP now owns 4,239,474 shares of the company’s stock worth $176,659,000 after acquiring an additional 139,649 shares during the last quarter. Orbis Allan Gray Ltd purchased a new stake in BBB Foods in the 4th quarter worth $109,810,000. Principal Financial Group Inc. bought a new position in shares of BBB Foods during the 1st quarter valued at about $65,967,000. Duquesne Family Office LLC boosted its holdings in shares of BBB Foods by 228.1% during the 3rd quarter. Duquesne Family Office LLC now owns 1,183,125 shares of the company’s stock valued at $31,897,000 after purchasing an additional 822,575 shares during the last quarter. Finally, Capital International Inc. CA grew its position in shares of BBB Foods by 1.3% during the fourth quarter. Capital International Inc. CA now owns 1,022,314 shares of the company’s stock valued at $34,135,000 after purchasing an additional 12,962 shares in the last quarter. Hedge funds and other institutional investors 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. The company also provides branded, private label, and spot products. It serves low-to-middle income households through online channels.
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