BBB Foods (NYSE:TBBB) Shares Down 4.5%

BBB Foods Inc. (NYSE:TBBB) dropped 4.5% on Thursday . The stock traded as low as $29.86 and last traded at $30.14. Approximately 205,086 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 809,662 shares. The stock had previously closed at $31.55.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on TBBB shares. JPMorgan Chase & Co. boosted their price target on shares of BBB Foods from $30.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Hsbc Global Res upgraded BBB Foods from a “strong sell” rating to a “hold” rating in a report on Friday, August 23rd. Scotiabank upped their price target on BBB Foods from $33.00 to $36.00 and gave the stock a “sector outperform” rating in a report on Friday, May 31st. Jefferies Financial Group initiated coverage on BBB Foods in a research note on Monday, September 9th. They issued a “hold” rating and a $33.00 price objective for the company. Finally, HSBC upgraded BBB Foods from a “reduce” rating to a “hold” rating and set a $31.00 target price for the company in a research note on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $30.57.

BBB Foods Price Performance

The company has a 50 day moving average price of $28.99 and a 200 day moving average price of $25.43. The company has a current ratio of 0.79, a quick ratio of 0.54 and a debt-to-equity ratio of 1.85.

BBB Foods (NYSE:TBBB) last issued its earnings results on Wednesday, August 21st. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.15. The company had revenue of $788.28 million for the quarter, compared to analyst estimates of $708.69 million. As a group, sell-side analysts anticipate that BBB Foods Inc. will post 0.14 EPS for the current fiscal year.

Institutional Trading of BBB Foods

A number of hedge funds have recently added to or reduced their stakes in the business. Capital International Investors acquired a new stake in shares of BBB Foods during the 1st quarter worth $120,440,000. William Blair Investment Management LLC acquired a new stake in BBB Foods during the first quarter worth about $48,934,000. Capital International Inc. CA purchased a new position in shares of BBB Foods in the 1st quarter worth about $33,004,000. Driehaus Capital Management LLC purchased a new position in shares of BBB Foods in the 2nd quarter worth about $26,562,000. Finally, Thornburg Investment Management Inc. purchased a new stake in shares of BBB Foods during the 1st quarter worth about $18,668,000. 8.42% of the stock is owned by institutional investors and hedge funds.

About BBB Foods

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.