Eleva Capital SAS Acquires New Stake in BBB Foods Inc. $TBBB

Eleva Capital SAS purchased a new stake in BBB Foods Inc. (NYSE:TBBB) in the third quarter, Holdings Channel reports. The institutional investor purchased 166,147 shares of the company’s stock, valued at approximately $8,746,000. BBB Foods comprises about 7.3% of Eleva Capital SAS’s portfolio, making the stock its 6th largest position.

Several other large investors also recently made changes to their positions in TBBB. Wasatch Advisors LP grew its stake in shares of BBB Foods by 3.4% in the 2nd quarter. Wasatch Advisors LP now owns 4,239,474 shares of the company’s stock worth $176,659,000 after purchasing an additional 139,649 shares during the last quarter. Principal Financial Group Inc. acquired a new position in BBB Foods in the first quarter worth approximately $65,967,000. Carmignac Gestion grew its position in BBB Foods by 526.5% in the second quarter. Carmignac Gestion now owns 670,106 shares of the company’s stock worth $27,917,000 after buying an additional 563,141 shares during the last quarter. Sei Investments Co. lifted its position in shares of BBB Foods by 10.7% during the 1st quarter. Sei Investments Co. now owns 748,627 shares of the company’s stock valued at $26,479,000 after acquiring an additional 72,646 shares during the last quarter. Finally, Engle Capital Management L.P. boosted its stake in shares of BBB Foods by 1.8% during the 4th quarter. Engle Capital Management L.P. now owns 750,000 shares of the company’s stock worth $25,042,000 after acquiring an additional 13,231 shares in the last quarter. Institutional investors own 8.42% of the company’s stock.

Insider Activity

In related news, Director Sapire Rose Nicole Domin Reich sold 7,623 shares of the business’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 value of $388,773.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TBBB shares. UBS Group boosted their target price on BBB Foods from $51.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. Zacks Research raised BBB Foods from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. JPMorgan Chase & Co. boosted their price objective on BBB Foods from $48.00 to $67.00 and gave the stock an “overweight” rating in a report on Thursday, September 10th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of BBB Foods in a research note on Monday, September 21st. Finally, Citigroup reiterated a “buy” rating on shares of BBB Foods in a report on Monday, September 14th. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $50.50.

BBB Foods Stock Up 0.0%

BBB Foods stock traded up $0.02 during trading hours on Tuesday, hitting $53.89. The company had a trading volume of 152,936 shares, compared to its average volume of 658,229. BBB Foods Inc. has a fifty-two week low of $23.81 and a fifty-two week high of $54.74. 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 firm has a market capitalization of $6.39 billion, a P/E ratio of -33.47 and a beta of 0.02. The firm’s fifty day moving average is $48.45 and its 200-day moving average is $41.90.

BBB Foods (NYSE:TBBB) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.03). BBB Foods had a negative net margin of 3.68% and a negative return on equity of 72.47%. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.42 billion. On average, research analysts forecast that BBB Foods Inc. will post -0.62 earnings per share for the current 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.