Verdence Capital Advisors LLC Takes Position in BBB Foods Inc. (NYSE:TBBB)

Verdence Capital Advisors LLC bought a new position in BBB Foods Inc. (NYSE:TBBB) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 7,454 shares of the company’s stock, valued at approximately $224,000.

Other institutional investors also recently bought and sold shares of the company. Sei Investments Co. purchased a new stake in shares of BBB Foods in the first quarter valued at $711,000. Russell Investments Group Ltd. purchased a new stake in BBB Foods in the 1st quarter valued at about $1,512,000. Picton Mahoney Asset Management acquired a new position in shares of BBB Foods during the 1st quarter valued at about $1,134,000. J.Safra Asset Management Corp purchased a new position in shares of BBB Foods during the 1st quarter worth about $32,000. Finally, Thornburg Investment Management Inc. acquired a new stake in shares of BBB Foods in the first quarter worth approximately $18,668,000. 8.42% of the stock is currently owned by institutional investors and hedge funds.

BBB Foods Stock Down 1.2 %

Shares of NYSE TBBB opened at $32.89 on Wednesday. The firm’s 50-day simple moving average is $31.44 and its 200 day simple moving average is $27.73. BBB Foods Inc. has a fifty-two week low of $18.71 and a fifty-two week high of $35.22. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.54 and a current ratio of 0.79.

BBB Foods (NYSE:TBBB) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.15. The firm had revenue of $788.28 million during the quarter, compared to the consensus estimate of $708.69 million. On average, equities research analysts predict that BBB Foods Inc. will post 0.14 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. HSBC upgraded BBB Foods from a “reduce” rating to a “hold” rating and set a $31.00 price objective for the company in a report on Friday, August 23rd. Jefferies Financial Group assumed coverage on BBB Foods in a report on Monday, September 9th. They issued a “hold” rating and a $33.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price on BBB Foods from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Finally, Hsbc Global Res upgraded shares of BBB Foods from a “strong sell” rating to a “hold” rating in a report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $30.57.

BBB Foods 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.