BBB Foods (NYSE:TBBB) Rating Increased to Hold at HSBC

HSBC upgraded shares of BBB Foods (NYSE:TBBB) from a reduce rating to a hold rating in a research note released on Friday morning, MarketBeat Ratings reports. They currently have $31.00 target price on the stock.

A number of other analysts have also commented on the stock. Bank of America boosted their price objective on shares of BBB Foods from $26.00 to $31.00 and gave the stock a buy rating in a research report on Thursday, May 23rd. JPMorgan Chase & Co. boosted their price objective on shares of BBB Foods from $30.00 to $34.00 and gave the stock an overweight rating in a research report on Wednesday, August 7th. Finally, Scotiabank boosted their price objective on shares of BBB Foods from $33.00 to $36.00 and gave the stock a sector outperform rating in a research report on Friday, May 31st. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, BBB Foods has a consensus rating of Hold and an average target price of $30.17.

BBB Foods Stock Up 9.5 %

Shares of TBBB opened at $32.67 on Friday. BBB Foods has a twelve month low of $18.71 and a twelve month high of $32.99. The firm’s 50 day moving average price is $25.57 and its two-hundred day moving average price is $23.75.

Hedge Funds Weigh In On BBB Foods

Institutional investors have recently added to or reduced their stakes in the company. J.Safra Asset Management Corp acquired a new position in BBB Foods during the first quarter worth $32,000. Hood River Capital Management LLC acquired a new position in BBB Foods during the first quarter worth $54,000. National Bank of Canada FI acquired a new position in BBB Foods during the second quarter worth $103,000. Federated Hermes Inc. acquired a new position in BBB Foods during the second quarter worth $143,000. Finally, Quent Capital LLC acquired a new position in BBB Foods during the second quarter worth $167,000. 8.42% of the stock is currently owned by institutional investors and hedge funds.

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.