BBB Foods (NYSE:TBBB) Stock Price Down 6.5% on Disappointing Earnings

Shares of BBB Foods Inc. (NYSE:TBBB) fell 6.5% during trading on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $28.75 and last traded at $28.97. Approximately 414,522 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 810,550 shares. The stock had previously closed at $30.98.

The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.10). The company had revenue of $838.41 million during the quarter, compared to analysts’ expectations of $836.80 million.

Wall Street Analyst Weigh In

Several brokerages recently commented on TBBB. Scotiabank set a $37.00 price objective on shares of BBB Foods and gave the company an “outperform” rating in a research note on Friday, April 11th. Itau BBA Securities upgraded shares of BBB Foods from a “market perform” rating to an “outperform” rating and set a $36.00 price target for the company in a research report on Monday, April 21st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $33.67.

Institutional Trading of BBB Foods

Large investors have recently modified their holdings of the business. 12 West Capital Management LP acquired a new position in shares of BBB Foods in the fourth quarter worth $48,544,000. Capital Research Global Investors lifted its holdings in BBB Foods by 37.3% in the 4th quarter. Capital Research Global Investors now owns 5,330,214 shares of the company’s stock valued at $150,738,000 after purchasing an additional 1,448,093 shares in the last quarter. FMR LLC boosted its stake in shares of BBB Foods by 33.6% during the 4th quarter. FMR LLC now owns 3,494,773 shares of the company’s stock worth $98,832,000 after purchasing an additional 878,003 shares during the last quarter. TT International Asset Management LTD purchased a new stake in shares of BBB Foods during the first quarter worth about $15,261,000. Finally, Ameriprise Financial Inc. raised its position in shares of BBB Foods by 146.1% in the fourth quarter. Ameriprise Financial Inc. now owns 943,857 shares of the company’s stock valued at $26,692,000 after buying an additional 560,280 shares during the last quarter. 8.42% of the stock is currently owned by institutional investors and hedge funds.

BBB Foods Stock Down 1.8 %

The firm’s 50 day moving average is $26.99 and its 200-day moving average is $28.94. The firm has a market cap of $3.19 billion, a PE ratio of 126.91 and a beta of 0.49. The company has a quick ratio of 0.54, a current ratio of 0.79 and a debt-to-equity ratio of 1.72.

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.