BBB Foods (NYSE:TBBB) Shares Gap Down – What’s Next?

BBB Foods Inc. (NYSE:TBBB)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $34.16, but opened at $32.14. BBB Foods shares last traded at $31.88, with a volume of 50,971 shares traded.

Analysts Set New Price Targets

Several research analysts have recently weighed in on TBBB shares. JPMorgan Chase & Co. upped their price target on shares of BBB Foods from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Hsbc Global Res raised shares of BBB Foods from a “strong sell” rating to a “hold” rating in a report on Friday, August 23rd. HSBC raised shares of BBB Foods from a “reduce” rating to a “hold” rating and set a $31.00 price target on the stock in a report on Friday, August 23rd. Finally, Jefferies Financial Group initiated coverage on shares of BBB Foods in a research report on Monday, September 9th. They issued a “hold” rating and a $33.00 target price for the company. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $30.57.

BBB Foods Stock Down 12.2 %

The firm’s 50-day moving average is $32.11 and its 200-day moving average is $28.34. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.79 and a quick ratio of 0.54.

Institutional Trading of BBB Foods

Institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC purchased a new stake in BBB Foods during the first quarter valued at about $8,355,000. Sei Investments Co. purchased a new stake in BBB Foods during the first quarter valued at about $711,000. Driehaus Capital Management LLC bought a new position in shares of BBB Foods during the second quarter valued at about $26,562,000. Barings LLC raised its stake in shares of BBB Foods by 34.5% during the second quarter. Barings LLC now owns 83,798 shares of the company’s stock valued at $1,999,000 after acquiring an additional 21,502 shares during the last quarter. Finally, Picton Mahoney Asset Management raised its stake in shares of BBB Foods by 43.8% during the second quarter. Picton Mahoney Asset Management now owns 68,600 shares of the company’s stock valued at $1,637,000 after acquiring an additional 20,900 shares during the last quarter. 8.42% of the stock is currently owned by hedge funds and other institutional investors.

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.