BBB Foods Inc. (NYSE:TBBB – Get Free Report) was the target of a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 1,470,000 shares, a decline of 65.9% from the February 13th total of 4,310,000 shares. Approximately 3.8% of the company’s shares are short sold. Based on an average daily trading volume, of 1,040,000 shares, the short-interest ratio is presently 1.4 days.
Analysts Set New Price Targets
Separately, Itau BBA Securities started coverage on BBB Foods in a report on Wednesday, January 22nd. They issued a “market perform” rating and a $32.00 price target for the company. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $32.00.
Check Out Our Latest Stock Analysis on TBBB
BBB Foods Stock Up 2.0 %
Hedge Funds Weigh In On BBB Foods
Several hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank purchased a new stake in shares of BBB Foods during the 4th quarter worth about $141,000. Verdence Capital Advisors LLC acquired a new stake in BBB Foods during the third quarter worth $224,000. White Oak Capital Partners Pte. Ltd. acquired a new stake in BBB Foods during the fourth quarter worth $226,000. Virtu Financial LLC acquired a new stake in shares of BBB Foods in the third quarter valued at $230,000. Finally, J.Safra Asset Management Corp grew its stake in shares of BBB Foods by 204.7% in the fourth quarter. J.Safra Asset Management Corp now owns 10,264 shares of the company’s stock valued at $293,000 after buying an additional 6,895 shares in the last quarter. 8.42% of the stock is owned by institutional investors and hedge funds.
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.
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