BBB Foods Inc. (NYSE:TBBB) Stake Lowered by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its stake in BBB Foods Inc. (NYSE:TBBB - Free Report) by 20.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 545,682 shares of the company's stock after selling 140,924 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.49% of BBB Foods worth $16,370,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. J.Safra Asset Management Corp lifted its holdings in BBB Foods by 153.3% in the 2nd quarter. J.Safra Asset Management Corp now owns 3,369 shares of the company's stock worth $80,000 after purchasing an additional 2,039 shares in the last quarter. National Bank of Canada FI acquired a new position in BBB Foods during the 2nd quarter valued at about $103,000. Hood River Capital Management LLC increased its holdings in shares of BBB Foods by 118.5% in the second quarter. Hood River Capital Management LLC now owns 4,958 shares of the company's stock valued at $119,000 after purchasing an additional 2,689 shares during the period. Federated Hermes Inc. acquired a new stake in BBB Foods during the second quarter worth about $143,000. Finally, Quent Capital LLC purchased a new position in BBB Foods during the second quarter worth approximately $167,000. 8.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. 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. upped their price target on BBB Foods from $30.00 to $34.00 and gave the stock an "overweight" rating in a report on Wednesday, August 7th. HSBC raised BBB Foods from a "reduce" rating to a "hold" rating and set a $31.00 target price on the stock in a research note on Friday, August 23rd. Finally, Jefferies Financial Group assumed coverage on BBB Foods in a report on Monday, September 9th. They set a "hold" rating and a $33.00 price objective for the company. Five 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, the company presently has an average rating of "Hold" and a consensus price target of $30.57.

BBB Foods Stock Performance

Shares of NYSE TBBB traded up $0.05 during midday trading on Monday, hitting $28.27. 192,822 shares of the company's stock were exchanged, compared to its average volume of 784,067. BBB Foods Inc. has a twelve month low of $18.71 and a twelve month high of $35.22. The stock's 50 day moving average price is $31.91 and its 200-day moving average price is $28.44. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.54 and a current ratio of 0.79.

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.