BBB Foods (NYSE:TBBB) Shares Down 5.4% – Time to Sell?

Shares of BBB Foods Inc. (NYSE:TBBB) fell 5.4% during mid-day trading on Wednesday . The stock traded as low as $28.09 and last traded at $28.29. 658,862 shares traded hands during 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

TBBB has been the subject of several research reports. HSBC raised BBB Foods from a “reduce” rating to a “hold” rating and set a $31.00 price objective for the company in a research note on Friday, August 23rd. Hsbc Global Res raised BBB Foods from a “strong sell” rating to a “hold” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. raised their price objective on BBB Foods from $30.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group initiated coverage on BBB Foods in a research note on Monday, September 9th. They set a “hold” rating and a $33.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $30.57.

BBB Foods Stock Down 5.6 %

The company has a current ratio of 0.79, a quick ratio of 0.54 and a debt-to-equity ratio of 1.85. The business has a 50-day moving average of $32.10 and a 200-day moving average of $28.37.

Institutional Trading of BBB Foods

Institutional investors have recently bought and sold shares of the company. Janus Henderson Group PLC bought a new position in BBB Foods during the first quarter valued at about $8,355,000. Driehaus Capital Management LLC bought a new position in shares of BBB Foods in the second quarter worth about $26,562,000. Barings LLC increased its stake in shares of BBB Foods by 34.5% in the second quarter. Barings LLC now owns 83,798 shares of the company’s stock worth $1,999,000 after purchasing an additional 21,502 shares during the period. Picton Mahoney Asset Management increased its stake in shares of BBB Foods by 43.8% in the second quarter. Picton Mahoney Asset Management now owns 68,600 shares of the company’s stock worth $1,637,000 after purchasing an additional 20,900 shares during the period. Finally, Sei Investments Co. increased its stake in shares of BBB Foods by 891.3% in the second quarter. Sei Investments Co. now owns 296,390 shares of the company’s stock worth $7,072,000 after purchasing an additional 266,490 shares during the period. Institutional investors and hedge funds own 8.42% of the company’s stock.

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.