Quest Partners LLC Takes Position in BBB Foods Inc. (NYSE:TBBB)

Quest Partners LLC bought a new position in shares of BBB Foods Inc. (NYSE:TBBB) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 563,298 shares of the company’s stock, valued at approximately $16,899,000. BBB Foods accounts for approximately 1.5% of Quest Partners LLC’s portfolio, making the stock its largest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. J.Safra Asset Management Corp boosted its position in shares of BBB Foods by 153.3% during the 2nd quarter. J.Safra Asset Management Corp now owns 3,369 shares of the company’s stock valued at $80,000 after purchasing an additional 2,039 shares in the last quarter. Hood River Capital Management LLC bought a new stake in BBB Foods during the first quarter worth approximately $54,000. National Bank of Canada FI bought a new stake in BBB Foods during the second quarter worth approximately $103,000. Engle Capital Management L.P. grew its position in BBB Foods by 0.7% in the second quarter. Engle Capital Management L.P. now owns 720,000 shares of the company’s stock worth $17,179,000 after buying an additional 5,000 shares during the last quarter. Finally, Federated Hermes Inc. bought a new position in shares of BBB Foods in the second quarter valued at $143,000. 8.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

BBB Foods Price Performance

Shares of TBBB opened at $32.18 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.79 and a debt-to-equity ratio of 1.85. The company’s 50 day moving average price is $31.69 and its 200 day moving average price is $27.96. BBB Foods Inc. has a 52 week low of $18.71 and a 52 week high of $35.22.

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

BBB Foods 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.