BBB Foods (NYSE:TBBB) Trading 5% Higher – Here’s What Happened

BBB Foods Inc. (NYSE:TBBB) was up 5% during trading on Wednesday . The stock traded as high as $31.60 and last traded at $31.73. Approximately 29,131 shares changed hands during trading, a decline of 95% from the average daily volume of 642,654 shares. The stock had previously closed at $30.21.

Analyst Upgrades and Downgrades

Separately, Itau BBA Securities initiated coverage on shares of BBB Foods in a research report on Wednesday, January 22nd. They set a “market perform” rating and a $32.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, BBB Foods has an average rating of “Hold” and an average price target of $30.75.

BBB Foods Stock Performance

The company has a 50-day simple moving average of $29.83 and a 200 day simple moving average of $30.01. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.79 and a quick ratio of 0.54.

BBB Foods (NYSE:TBBB) last posted its quarterly earnings results on Monday, November 25th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.07. On average, equities analysts expect that BBB Foods Inc. will post 0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On BBB Foods

Institutional investors have recently modified their holdings of the stock. Verdence Capital Advisors LLC purchased a new stake in BBB Foods in the third quarter worth about $224,000. Virtu Financial LLC bought a new stake in shares of BBB Foods in the 3rd quarter valued at about $230,000. Tempus Wealth Planning LLC purchased a new stake in shares of BBB Foods in the 4th quarter worth approximately $343,000. SG Americas Securities LLC bought a new position in shares of BBB Foods during the fourth quarter valued at approximately $375,000. Finally, XTX Topco Ltd increased its holdings in BBB Foods by 95.9% during the third quarter. XTX Topco Ltd now owns 23,756 shares of the company’s stock valued at $713,000 after buying an additional 11,632 shares during the period. 8.42% of the stock is owned by hedge funds and other institutional investors.

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.