BBB Foods (NYSE:TBBB) Sees Large Volume Increase – Here’s Why

BBB Foods Inc. (NYSE:TBBB) saw unusually-strong trading volume on Thursday . Approximately 2,530,934 shares changed hands during trading, an increase of 221% from the previous session’s volume of 789,636 shares.The stock last traded at $28.35 and had previously closed at $28.57.

Analysts Set New Price Targets

Separately, Itau BBA Securities started coverage on shares of BBB Foods in a research report on Wednesday, January 22nd. They set a “market perform” rating and a $32.00 price target on the stock. Six 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 presently has a consensus rating of “Hold” and an average price target of $30.75.

BBB Foods Price Performance

The firm has a 50 day moving average price of $29.60 and a 200-day moving average price of $30.15. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.79 and a quick ratio of 0.54.

BBB Foods (NYSE:TBBB) last issued its quarterly earnings results on Monday, November 25th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.07. As a group, sell-side analysts expect that BBB Foods Inc. will post 0.15 EPS for the current year.

Hedge Funds Weigh In On BBB Foods

Several large investors have recently bought and sold shares of the business. Van ECK Associates Corp lifted its holdings in BBB Foods by 13.6% during the 3rd quarter. Van ECK Associates Corp now owns 207,878 shares of the company’s stock worth $6,727,000 after buying an additional 24,963 shares during the last quarter. Verdence Capital Advisors LLC purchased a new stake in BBB Foods during the third quarter worth approximately $224,000. State of New Jersey Common Pension Fund D boosted its holdings in BBB Foods by 29.2% in the third quarter. State of New Jersey Common Pension Fund D now owns 51,664 shares of the company’s stock valued at $1,550,000 after purchasing an additional 11,663 shares in the last quarter. Quest Partners LLC purchased a new position in BBB Foods in the third quarter valued at approximately $16,899,000. Finally, FMR LLC increased its stake in BBB Foods by 23.0% in the third quarter. FMR LLC now owns 2,616,770 shares of the company’s stock valued at $78,503,000 after purchasing an additional 490,100 shares during the last quarter. Hedge funds and other institutional investors own 8.42% of the company’s stock.

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.