Itau Unibanco Holding S.A. Sells 370,496 Shares of BBB Foods Inc. (NYSE:TBBB)

Itau Unibanco Holding S.A. lessened its stake in shares of BBB Foods Inc. (NYSE:TBBB) by 65.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 195,691 shares of the company’s stock after selling 370,496 shares during the period. Itau Unibanco Holding S.A. owned about 0.17% of BBB Foods worth $4,506,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Russell Investments Group Ltd. bought a new stake in BBB Foods during the 1st quarter valued at $1,512,000. Janus Henderson Group PLC bought a new stake in shares of BBB Foods in the first quarter valued at about $8,355,000. Van ECK Associates Corp purchased a new stake in BBB Foods in the first quarter worth about $2,821,000. Picton Mahoney Asset Management bought a new position in BBB Foods during the 1st quarter worth about $1,134,000. Finally, Sei Investments Co. purchased a new position in BBB Foods during the 1st quarter valued at about $711,000. Hedge funds and other institutional investors own 8.42% of the company’s stock.

BBB Foods Trading Down 3.5 %

Shares of TBBB opened at $31.37 on Friday. The company’s 50-day simple moving average is $28.48 and its 200-day simple moving average is $25.12. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.79 and a quick ratio of 0.54. BBB Foods Inc. has a 1 year low of $18.71 and a 1 year high of $33.16.

BBB Foods (NYSE:TBBB) last released its earnings results on Wednesday, August 21st. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.02 by $0.15. The company had revenue of $788.28 million for the quarter, compared to analyst estimates of $708.69 million. On average, research analysts forecast that BBB Foods Inc. will post 0.14 EPS for the current year.

Analyst Ratings Changes

TBBB has been the topic of several recent analyst reports. 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 report on Wednesday, August 7th. Jefferies Financial Group started coverage on shares of BBB Foods in a report on Monday, September 9th. They issued a “hold” rating and a $33.00 price objective for the company. Scotiabank boosted their target price on BBB Foods from $33.00 to $36.00 and gave the stock a “sector outperform” rating in a report on Friday, May 31st. Hsbc Global Res upgraded BBB Foods from a “strong sell” rating to a “hold” rating in a research report on Friday, August 23rd. Finally, HSBC raised BBB Foods from a “reduce” rating to a “hold” rating and set a $31.00 target price for the company in a research note on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $30.57.

BBB Foods Profile

BBB Foods Inc, through its subsidiaries, operates grocery retail stores in Mexico. It offers food products, drinks, hygiene and beauty products, home clean products, coffee, tea and substitutes, jellies and desserts, and baby and pet products. The company also provides branded, private label, and spot products.