William Blair Investment Management LLC Purchases New Shares in BBB Foods Inc. (NYSE:TBBB)

William Blair Investment Management LLC purchased a new stake in BBB Foods Inc. (NYSE:TBBB) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 2,057,761 shares of the company’s stock, valued at approximately $48,934,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of TBBB. Sei Investments Co. purchased a new stake in BBB Foods in the 1st quarter valued at $711,000. Russell Investments Group Ltd. purchased a new position in BBB Foods during the 1st quarter worth $1,512,000. Seven Grand Managers LLC purchased a new position in BBB Foods during the 1st quarter worth $2,378,000. Van ECK Associates Corp purchased a new position in BBB Foods during the 1st quarter worth $2,821,000. Finally, Sib LLC purchased a new position in BBB Foods during the 1st quarter worth $4,756,000. Hedge funds and other institutional investors own 8.42% of the company’s stock.

BBB Foods Stock Up 3.0 %

Shares of NYSE:TBBB traded up $0.77 on Wednesday, reaching $26.32. 945,669 shares of the company were exchanged, compared to its average volume of 907,268. BBB Foods Inc. has a 1-year low of $18.71 and a 1-year high of $28.84. The stock’s 50-day simple moving average is $24.43.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TBBB. Scotiabank upped their price objective on shares of BBB Foods from $33.00 to $36.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 31st. Bank of America upped their price objective on shares of BBB Foods from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Finally, UBS Group downgraded shares of BBB Foods from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $26.00 to $27.00 in a research report on Tuesday, April 9th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $29.20.

BBB Foods Profile

BBB Foods Inc, through its subsidiaries, operates grocery retail stores in Mexico. It offers food products, drinks, hygiene and beauty products, home clean products, coffee, tea and substitutes, jellies and desserts, and baby and pet products. The company also provides branded, private label, and spot products.