Zacks Research Downgrades BBB Foods (NYSE:TBBB) to Strong Sell

BBB Foods (NYSE:TBBB) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday,Zacks.com reports.

A number of other research analysts also recently commented on the stock. Morgan Stanley raised shares of BBB Foods to an “overweight” rating in a research report on Wednesday, January 28th. Wells Fargo & Company set a $42.00 target price on shares of BBB Foods in a research note on Friday, March 13th. The Goldman Sachs Group lifted their price target on BBB Foods from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, December 18th. UBS Group boosted their price target on BBB Foods from $31.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, February 20th. Finally, Itau BBA Securities upgraded BBB Foods from a “market perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a research note on Friday, March 13th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, BBB Foods currently has an average rating of “Hold” and an average price target of $39.50.

BBB Foods Trading Up 3.9%

Shares of BBB Foods stock opened at $34.89 on Monday. The stock has a market cap of $3.98 billion, a P/E ratio of -26.43 and a beta of -0.16. The company has a quick ratio of 0.35, a current ratio of 0.62 and a debt-to-equity ratio of 2.61. BBB Foods has a 12-month low of $23.81 and a 12-month high of $40.09. The business’s 50 day moving average is $35.20 and its 200-day moving average is $31.61.

BBB Foods (NYSE:TBBB) last released its earnings results on Wednesday, March 11th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.22). The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.24 billion. BBB Foods had a negative net margin of 3.72% and a negative return on equity of 70.80%. Equities research analysts predict that BBB Foods will post 0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BBB Foods

Large investors have recently made changes to their positions in the company. Baillie Gifford & Co. grew its holdings in BBB Foods by 123.4% in the 3rd quarter. Baillie Gifford & Co. now owns 194,851 shares of the company’s stock valued at $5,253,000 after buying an additional 107,622 shares in the last quarter. Barings LLC acquired a new stake in shares of BBB Foods during the third quarter worth $1,959,000. Citigroup Inc. boosted its position in shares of BBB Foods by 108.9% in the third quarter. Citigroup Inc. now owns 281,023 shares of the company’s stock valued at $7,576,000 after acquiring an additional 146,488 shares during the period. DNB Asset Management AS boosted its position in shares of BBB Foods by 60.0% in the third quarter. DNB Asset Management AS now owns 374,275 shares of the company’s stock valued at $10,090,000 after acquiring an additional 140,409 shares during the period. Finally, 3G Capital Partners LP grew its stake in shares of BBB Foods by 6.7% in the third quarter. 3G Capital Partners LP now owns 1,600,000 shares of the company’s stock valued at $43,136,000 after acquiring an additional 100,000 shares in the last quarter. Institutional investors own 8.42% of the company’s stock.

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. The company also provides branded, private label, and spot products. It serves low-to-middle income households through online channels.