BBB Foods (NYSE:TBBB) Shares Up 5% – Still a Buy?

BBB Foods Inc. (NYSE:TBBB) shares shot up 5% during mid-day trading on Wednesday . The stock traded as high as $31.60 and last traded at $31.73. 29,131 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 642,654 shares. The stock had previously closed at $30.21.

Wall Street Analyst Weigh In

Separately, Itau BBA Securities started coverage on shares of BBB Foods in a report on Wednesday, January 22nd. They issued a “market perform” rating and a $32.00 target price for the company. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $30.75.

BBB Foods Price Performance

The company has a quick ratio of 0.54, a current ratio of 0.79 and a debt-to-equity ratio of 1.72. The business has a 50 day simple moving average of $29.83 and a 200 day simple moving average of $30.01.

BBB Foods (NYSE:TBBB) last announced its quarterly earnings data on Monday, November 25th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.03 by $0.07. As a group, equities analysts predict that BBB Foods Inc. will post 0.15 earnings per share for the current year.

Hedge Funds Weigh In On BBB Foods

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of BBB Foods by 23.0% in the 3rd quarter. FMR LLC now owns 2,616,770 shares of the company’s stock valued at $78,503,000 after acquiring an additional 490,100 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in BBB Foods by 0.6% in the third quarter. JPMorgan Chase & Co. now owns 1,274,625 shares of the company’s stock valued at $38,239,000 after purchasing an additional 7,014 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in BBB Foods in the third quarter valued at $24,694,000. The Manufacturers Life Insurance Company raised its stake in shares of BBB Foods by 23.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 686,606 shares of the company’s stock valued at $16,382,000 after buying an additional 129,773 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in shares of BBB Foods in the 3rd quarter valued at about $16,899,000. Hedge funds and other institutional investors own 8.42% of the company’s stock.

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.