BBB Foods (NYSE:TBBB) Upgraded to Hold by Hsbc Global Res

BBB Foods (NYSE:TBBB) was upgraded by research analysts at Hsbc Global Res from a “strong sell” rating to a “hold” rating in a research note issued on Friday, Zacks.com reports.

Other research analysts also recently issued reports about the company. HSBC upgraded BBB Foods from a “reduce” rating to a “hold” rating and set a $31.00 price target on the stock in a report on Friday. JPMorgan Chase & Co. lifted their price target on BBB Foods from $30.00 to $34.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Scotiabank lifted their price target on BBB Foods from $33.00 to $36.00 and gave the company a “sector outperform” rating in a report on Friday, May 31st. Finally, Bank of America boosted their target price on BBB Foods from $26.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $30.17.

BBB Foods Trading Up 9.5 %

Shares of NYSE:TBBB opened at $32.67 on Friday. BBB Foods has a 12-month low of $18.71 and a 12-month high of $32.99. The business’s fifty day simple moving average is $25.57 and its 200-day simple moving average is $23.75.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. J.Safra Asset Management Corp acquired a new stake in BBB Foods during the 1st quarter worth about $32,000. Hood River Capital Management LLC acquired a new stake in BBB Foods during the 1st quarter worth about $54,000. National Bank of Canada FI acquired a new stake in BBB Foods during the 2nd quarter worth about $103,000. Engle Capital Management L.P. lifted its position in BBB Foods by 0.7% during the 2nd quarter. Engle Capital Management L.P. now owns 720,000 shares of the company’s stock worth $17,179,000 after acquiring an additional 5,000 shares during the period. Finally, Federated Hermes Inc. acquired a new stake in BBB Foods during the 2nd quarter worth about $143,000. 8.42% of the stock is currently owned by hedge funds and other institutional investors.

BBB Foods Company Profile

BBB Foods Inc, through its subsidiaries, operates grocery retail stores in Mexico. It offers food products, drinks, hygiene and beauty products, home clean products, coffee, tea and substitutes, jellies and desserts, and baby and pet products. The company also provides branded, private label, and spot products.