Thornburg Investment Management Inc. Cuts Position in BBB Foods Inc. $TBBB

Thornburg Investment Management Inc. cut its stake in BBB Foods Inc. (NYSE:TBBB) by 52.7% during the fourth quarter, HoldingsChannel reports. The fund owned 187,102 shares of the company’s stock after selling 208,843 shares during the quarter. Thornburg Investment Management Inc.’s holdings in BBB Foods were worth $6,247,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TBBB. Goldman Sachs Group Inc. increased its holdings in shares of BBB Foods by 276.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 156,526 shares of the company’s stock valued at $4,176,000 after acquiring an additional 114,990 shares during the period. Qube Research & Technologies Ltd increased its holdings in shares of BBB Foods by 48.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 285,206 shares of the company’s stock valued at $7,917,000 after acquiring an additional 92,989 shares during the period. Sei Investments Co. increased its holdings in shares of BBB Foods by 57.7% in the 2nd quarter. Sei Investments Co. now owns 417,794 shares of the company’s stock valued at $11,598,000 after acquiring an additional 152,883 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of BBB Foods by 0.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 705,005 shares of the company’s stock valued at $19,571,000 after acquiring an additional 2,434 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of BBB Foods by 32.3% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 171,979 shares of the company’s stock valued at $4,774,000 after acquiring an additional 41,979 shares during the period. 8.42% of the stock is currently owned by hedge funds and other institutional investors.

BBB Foods Stock Up 0.1%

Shares of TBBB stock opened at $42.16 on Monday. BBB Foods Inc. has a 1-year low of $23.81 and a 1-year high of $42.71. The stock’s fifty day moving average price is $37.35 and its 200 day moving average price is $35.50. The company has a debt-to-equity ratio of 2.76, a current ratio of 0.60 and a quick ratio of 0.35. The company has a market cap of $5.00 billion, a price-to-earnings ratio of -27.20 and a beta of 0.03.

BBB Foods (NYSE:TBBB) last announced its earnings results on Wednesday, May 6th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.03). BBB Foods had a negative return on equity of 79.86% and a negative net margin of 3.95%.The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. On average, research analysts expect that BBB Foods Inc. will post -0.61 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TBBB has been the topic of a number of analyst reports. Zacks Research downgraded BBB Foods from a “hold” rating to a “strong sell” rating in a report on Monday, March 23rd. Weiss Ratings reiterated a “sell (d+)” rating on shares of BBB Foods in a report on Friday, March 27th. UBS Group boosted their target price on BBB Foods from $31.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. HSBC upgraded BBB Foods from a “hold” rating to a “buy” rating and boosted their target price for the stock from $38.00 to $47.00 in a research note on Wednesday, May 27th. Finally, Wells Fargo & Company set a $42.00 target price on BBB Foods in a research note on Friday, March 13th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $43.14.

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