BBB Foods (NYSE:TBBB) Stock Price Down 5.4% – Here’s Why

Shares of BBB Foods Inc. (NYSE:TBBB) traded down 5.4% on Wednesday . The stock traded as low as $28.09 and last traded at $28.29. 658,862 shares traded hands during mid-day trading, a decline of 16% from the average session volume of 784,715 shares. The stock had previously closed at $29.89.

Analysts Set New Price Targets

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

BBB Foods Stock Performance

The firm’s 50 day moving average price is $31.97 and its 200-day moving average price is $28.37. The company has a quick ratio of 0.54, a current ratio of 0.79 and a debt-to-equity ratio of 1.72.

Hedge Funds Weigh In On BBB Foods

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TBBB. J.Safra Asset Management Corp raised its stake in shares of BBB Foods by 153.3% in the second quarter. J.Safra Asset Management Corp now owns 3,369 shares of the company’s stock worth $80,000 after purchasing an additional 2,039 shares during the last quarter. Hood River Capital Management LLC raised its position in BBB Foods by 118.5% in the 2nd quarter. Hood River Capital Management LLC now owns 4,958 shares of the company’s stock worth $119,000 after buying an additional 2,689 shares during the last quarter. National Bank of Canada FI purchased a new position in BBB Foods in the 2nd quarter worth about $103,000. Engle Capital Management L.P. lifted its stake in BBB Foods by 0.7% during the 2nd quarter. Engle Capital Management L.P. now owns 720,000 shares of the company’s stock valued at $17,179,000 after acquiring an additional 5,000 shares during the period. Finally, Federated Hermes Inc. purchased a new stake in shares of BBB Foods during the 2nd quarter valued at about $143,000. 8.42% of the stock is owned by institutional investors.

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.