BBB Foods Inc. (NYSE:TBBB) Sees Significant Drop in Short Interest

BBB Foods Inc. (NYSE:TBBB - Get Free Report) saw a significant decline in short interest during 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 sold short. Based on an average trading volume of 1,040,000 shares, the days-to-cover ratio is currently 1.4 days.

Analyst Upgrades and Downgrades

Separately, Itau BBA Securities initiated coverage on BBB Foods in a research report on Wednesday, January 22nd. They set a "market perform" rating and a $32.00 target price on the stock. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $32.00.

Hedge Funds Weigh In On BBB Foods

A number of hedge funds have recently added to or reduced their stakes in TBBB. Toronto Dominion Bank purchased a new stake in shares of BBB Foods in the fourth quarter valued at approximately $141,000. Verdence Capital Advisors LLC purchased a new stake in shares of BBB Foods in the 3rd quarter worth $224,000. Virtu Financial LLC bought a new position in shares of BBB Foods during the 3rd quarter worth $230,000. White Oak Capital Partners Pte. Ltd. purchased a new position in shares of BBB Foods during the fourth quarter valued at $226,000. Finally, J.Safra Asset Management Corp raised its holdings 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 acquiring an additional 6,895 shares in the last quarter. 8.42% of the stock is currently owned by institutional investors.

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BBB Foods Stock Performance

Shares of NYSE TBBB traded up $0.28 during mid-day trading on Monday, reaching $25.34. The company had a trading volume of 65,591 shares, compared to its average volume of 618,719. BBB Foods has a 52 week low of $19.31 and a 52 week high of $35.22. The business's 50-day moving average is $28.31 and its 200-day moving average is $29.97. The company has a current ratio of 0.79, a quick ratio of 0.54 and a debt-to-equity ratio of 1.72.

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.