BBB Foods Inc. (NYSE:TBBB) Sees Large Decrease in Short Interest

BBB Foods Inc. (NYSE:TBBB) was the target of a large drop in short interest in February. As of February 28th, there was short interest totalling 1,470,000 shares, a drop of 65.9% from the February 13th total of 4,310,000 shares. Based on an average daily volume of 1,040,000 shares, the days-to-cover ratio is currently 1.4 days. Approximately 3.8% of the company’s stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TBBB. Alyeska Investment Group L.P. boosted its holdings in shares of BBB Foods by 1.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 107,739 shares of the company’s stock valued at $3,047,000 after purchasing an additional 1,655 shares during the last quarter. Voloridge Investment Management LLC boosted its holdings in shares of BBB Foods by 0.6% in the 4th quarter. Voloridge Investment Management LLC now owns 302,119 shares of the company’s stock valued at $8,544,000 after purchasing an additional 1,736 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of BBB Foods by 0.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 547,642 shares of the company’s stock valued at $15,487,000 after purchasing an additional 1,960 shares during the last quarter. Gabelli Funds LLC boosted its holdings in shares of BBB Foods by 3.7% in the 4th quarter. Gabelli Funds LLC now owns 56,000 shares of the company’s stock valued at $1,584,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Picton Mahoney Asset Management boosted its holdings in shares of BBB Foods by 13.5% in the 4th quarter. Picton Mahoney Asset Management now owns 29,400 shares of the company’s stock valued at $831,000 after purchasing an additional 3,500 shares during the last quarter. 8.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Itau BBA Securities initiated coverage on BBB Foods in a report on Wednesday, January 22nd. They issued a “market perform” rating and a $32.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $32.00.

BBB Foods Stock Up 2.0 %

BBB Foods stock traded up $0.48 during mid-day trading on Friday, reaching $25.00. The company had a trading volume of 389,995 shares, compared to its average volume of 618,892. BBB Foods has a 1 year low of $19.31 and a 1 year high of $35.22. The company has a current ratio of 0.79, a quick ratio of 0.54 and a debt-to-equity ratio of 1.72. The stock’s 50-day simple moving average is $28.31 and its 200-day simple moving average is $30.00.

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.