BBB Foods (NYSE:TBBB) Shares Down 6.5% Following Weak Earnings

BBB Foods Inc. (NYSE:TBBB)’s stock price traded down 6.5% during mid-day trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $28.75 and last traded at $28.97. 414,522 shares changed hands during 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 (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.10). The company had revenue of $838.41 million for the quarter, compared to analyst estimates of $836.80 million.

Analysts Set New Price Targets

TBBB has been the subject of a number of research reports. Scotiabank set a $37.00 price target on BBB Foods and gave the company an “outperform” rating in a research report on Friday, April 11th. Itau BBA Securities upgraded BBB Foods from a “market perform” rating to an “outperform” rating and set a $36.00 target price for the company in a report on Monday, April 21st. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.67.

Institutional Investors Weigh In On BBB Foods

Large investors have recently modified their holdings of the stock. FNY Investment Advisers LLC acquired a new stake in BBB Foods in the first quarter valued at approximately $37,000. Toronto Dominion Bank acquired a new stake in shares of BBB Foods during the fourth quarter valued at about $141,000. Blue Trust Inc. purchased a new stake in shares of BBB Foods during the first quarter worth about $212,000. Bank of Nova Scotia acquired a new stake in BBB Foods during the 1st quarter valued at approximately $213,000. Finally, White Oak Capital Partners Pte. Ltd. purchased a new stake in BBB Foods during the 4th quarter worth approximately $226,000. Institutional investors and hedge funds own 8.42% of the company’s stock.

BBB Foods Stock Performance

The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 126.91 and a beta of 0.49. 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 has a 50-day simple moving average of $26.99 and a 200-day simple moving average of $28.94.

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.