Millennium Management LLC Decreases Stock Position in BBB Foods Inc. (NYSE:TBBB)

Millennium Management LLC lowered its position in shares of BBB Foods Inc. (NYSE:TBBB - Free Report) by 45.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 756,738 shares of the company's stock after selling 638,525 shares during the period. Millennium Management LLC owned 0.67% of BBB Foods worth $18,056,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Capital International Investors acquired a new position in shares of BBB Foods in the 1st quarter valued at $120,440,000. William Blair Investment Management LLC purchased a new stake in shares of BBB Foods during the 1st quarter worth $48,934,000. Capital International Inc. CA purchased a new position in shares of BBB Foods in the 1st quarter valued at about $33,004,000. Thornburg Investment Management Inc. acquired a new stake in shares of BBB Foods in the first quarter valued at about $18,668,000. Finally, Engle Capital Management L.P. grew its position in BBB Foods by 0.7% during the second quarter. Engle Capital Management L.P. now owns 720,000 shares of the company's stock worth $17,179,000 after buying an additional 5,000 shares during the period. 8.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TBBB. Jefferies Financial Group began coverage on BBB Foods in a research note on Monday, September 9th. They set a "hold" rating and a $33.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on shares of BBB Foods from $30.00 to $34.00 and gave the company an "overweight" rating in a research note on Wednesday, August 7th. HSBC upgraded shares of BBB Foods from a "reduce" rating to a "hold" rating and set a $31.00 price target on the stock in a research report on Friday, August 23rd. Finally, Hsbc Global Res raised BBB Foods from a "strong sell" rating to a "hold" rating in a research note on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, BBB Foods currently has an average rating of "Hold" and a consensus price target of $30.57.

BBB Foods Trading Up 2.7 %

Shares of TBBB stock traded up $0.80 during trading hours on Friday, hitting $30.73. 716,583 shares of the company were exchanged, compared to its average volume of 683,209. The firm has a fifty day moving average of $29.37 and a 200 day moving average of $25.77. The company has a current ratio of 0.79, a quick ratio of 0.54 and a debt-to-equity ratio of 1.85. BBB Foods Inc. has a 1 year low of $18.71 and a 1 year high of $33.16.

BBB Foods (NYSE:TBBB - Get Free Report) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.15. The company had revenue of $788.28 million for the quarter, compared to analysts' expectations of $708.69 million. As a group, equities research analysts predict that BBB Foods Inc. will post 0.14 earnings per share for the current fiscal year.

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.