Gabelli Funds LLC Invests $975,000 in BBB Foods Inc. (NYSE:TBBB)

Gabelli Funds LLC purchased a new position in BBB Foods Inc. (NYSE:TBBB) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 41,000 shares of the company’s stock, valued at approximately $975,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Seven Grand Managers LLC bought a new position in BBB Foods in the first quarter worth approximately $2,378,000. Sib LLC bought a new position in BBB Foods in the first quarter worth approximately $4,756,000. Zweig DiMenna Associates LLC bought a new position in BBB Foods in the first quarter worth approximately $6,342,000. Van ECK Associates Corp bought a new position in BBB Foods in the first quarter worth approximately $2,821,000. Finally, Capstone Investment Advisors LLC bought a new position in BBB Foods in the first quarter worth approximately $6,492,000. 8.42% of the stock is currently owned by hedge funds and other institutional investors.

BBB Foods Trading Up 2.9 %

NYSE TBBB traded up $0.75 during midday trading on Friday, hitting $26.90. 781,371 shares of the company traded hands, compared to its average volume of 642,318. The firm has a 50-day simple moving average of $24.58. BBB Foods Inc. has a 52 week low of $18.71 and a 52 week high of $28.84.

Analysts Set New Price Targets

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

About BBB Foods

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.