Ninety One North America Inc. Acquires 334,172 Shares of BBB Foods Inc. $TBBB

Ninety One North America Inc. bought a new stake in BBB Foods Inc. (NYSE:TBBB) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 334,172 shares of the company’s stock, valued at approximately $17,591,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TBBB. Farther Finance Advisors LLC purchased a new stake in BBB Foods during the 3rd quarter worth about $27,000. GAMMA Investing LLC purchased a new position in shares of BBB Foods in the 3rd quarter valued at about $43,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of BBB Foods in the 4th quarter valued at about $89,000. Toth Financial Advisory Corp acquired a new position in shares of BBB Foods during the third quarter worth about $142,000. Finally, Royal Bank of Canada grew its position in shares of BBB Foods by 19.6% during the first quarter. Royal Bank of Canada now owns 11,415 shares of the company’s stock worth $404,000 after buying an additional 1,874 shares in the last quarter. 8.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. UBS Group raised their target price on shares of BBB Foods from $51.00 to $58.00 and gave the company a “buy” rating in a report on Friday, August 28th. JPMorgan Chase & Co. lifted their price target on BBB Foods from $48.00 to $67.00 and gave the stock an “overweight” rating in a report on Thursday, September 10th. Scotiabank reaffirmed an “outperform” rating and set a $65.00 price objective on shares of BBB Foods in a research report on Thursday, August 27th. Zacks Research upgraded BBB Foods from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, Weiss Ratings raised BBB Foods from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.50.

Insider Buying and Selling at BBB Foods

In related news, Director Sapire Rose Nicole Domin Reich sold 7,623 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $51.00, for a total transaction of $388,773.00. The transaction was disclosed in a filing with the SEC, which is available at this link.

BBB Foods Stock Up 0.1%

Shares of BBB Foods stock traded up $0.06 during trading hours on Thursday, hitting $56.42. The company had a trading volume of 391,872 shares, compared to its average volume of 665,855. The company’s 50-day moving average is $50.40 and its two-hundred day moving average is $42.95. BBB Foods Inc. has a twelve month low of $25.84 and a twelve month high of $57.30. The company has a debt-to-equity ratio of 2.16, a current ratio of 0.68 and a quick ratio of 0.44. The company has a market cap of $6.69 billion, a P/E ratio of -35.06 and a beta of 0.02.

BBB Foods (NYSE:TBBB) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.03). BBB Foods had a negative return on equity of 72.47% and a negative net margin of 3.68%. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.42 billion. Analysts anticipate that BBB Foods Inc. will post -0.62 earnings per share for the current fiscal year.

About BBB Foods

BBB Foods Inc operates Tiendas 3B, a hard-discount grocery retail chain in Mexico. The company serves value-conscious consumers through small-format neighborhood stores focused on convenient locations, a streamlined shopping experience and everyday low prices.

Tiendas 3B stores offer a selection of essential grocery and household products, including packaged foods, beverages, personal-care items, cleaning supplies and other daily necessities. The assortment combines private-label merchandise with branded products, and certain locations also carry fresh or perishable goods.

BBB Foods was established to develop the hard-discount retail model in Mexico and has expanded its store network across the country, primarily in urban and suburban communities.