Principal Financial Group Inc. Acquires Shares of 1,865,059 BBB Foods Inc. $TBBB

Principal Financial Group Inc. acquired a new stake in BBB Foods Inc. (NYSE:TBBB) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,865,059 shares of the company’s stock, valued at approximately $65,967,000. Principal Financial Group Inc. owned 1.60% of BBB Foods at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Bronte Capital Management Pty Ltd. bought a new position in BBB Foods in the 4th quarter valued at about $13,161,000. Deltec Asset Management LLC boosted its holdings in shares of BBB Foods by 239.7% during the fourth quarter. Deltec Asset Management LLC now owns 44,500 shares of the company’s stock worth $1,486,000 after acquiring an additional 31,400 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of BBB Foods by 64.3% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 371,642 shares of the company’s stock valued at $13,145,000 after purchasing an additional 145,412 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in shares of BBB Foods in the fourth quarter valued at approximately $1,456,000. Finally, Wasatch Advisors LP increased its stake in shares of BBB Foods by 20.3% during the first quarter. Wasatch Advisors LP now owns 4,099,825 shares of the company’s stock worth $145,011,000 after purchasing an additional 690,544 shares during the period. Institutional investors and hedge funds own 8.42% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on TBBB. Zacks Research raised BBB Foods from a “strong sell” rating to a “hold” rating in a report on Monday. JPMorgan Chase & Co. increased their price objective on BBB Foods from $46.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday. Weiss Ratings reissued a “sell (d+)” rating on shares of BBB Foods in a report on Wednesday, June 24th. Wall Street Zen raised BBB Foods from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, HSBC upgraded shares of BBB Foods from a “hold” rating to a “buy” rating and upped their price target for the company from $38.00 to $47.00 in a research note on Wednesday, May 27th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $43.43.

BBB Foods Trading Up 1.6%

Shares of TBBB stock opened at $40.33 on Friday. The stock has a market cap of $4.78 billion, a P/E ratio of -26.02 and a beta of -0.02. BBB Foods Inc. has a 1 year low of $23.81 and a 1 year high of $43.81. The company has a current ratio of 0.60, a quick ratio of 0.35 and a debt-to-equity ratio of 2.76. The stock has a 50 day simple moving average of $39.55 and a 200 day simple moving average of $36.91.

BBB Foods (NYSE:TBBB) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03). The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. BBB Foods had a negative return on equity of 79.86% and a negative net margin of 3.95%. On average, research analysts predict that BBB Foods Inc. will post -0.61 earnings per share for the current fiscal 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. The company also provides branded, private label, and spot products. It serves low-to-middle income households through online channels.