Kayne Anderson Rudnick Investment Management LLC Buys Shares of 516,922 BBB Foods Inc. (NYSE:TBBB)

Kayne Anderson Rudnick Investment Management LLC bought a new stake in BBB Foods Inc. (NYSE:TBBB) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 516,922 shares of the company’s stock, valued at approximately $12,334,000. Kayne Anderson Rudnick Investment Management LLC owned 0.46% of BBB Foods at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new stake in shares of BBB Foods in the first 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 $8,355,000. Van ECK Associates Corp bought a new stake in shares of BBB Foods in the first quarter valued at $2,821,000. Picton Mahoney Asset Management purchased a new position in shares of BBB Foods in the first quarter valued at $1,134,000. Finally, Sei Investments Co. purchased a new position in shares of BBB Foods in the first quarter valued at $711,000. 8.42% of the stock is currently owned by institutional investors.

BBB Foods Stock Performance

Shares of TBBB stock opened at $31.37 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.79 and a debt-to-equity ratio of 1.85. The business has a 50-day moving average price of $28.48 and a two-hundred day moving average price of $25.14. BBB Foods Inc. has a 12-month low of $18.71 and a 12-month high of $33.16.

BBB Foods (NYSE:TBBB) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.15. The firm had revenue of $788.28 million for the quarter, compared to the consensus estimate of $708.69 million. Research analysts predict that BBB Foods Inc. will post 0.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TBBB. Jefferies Financial Group began coverage on BBB Foods in a research report on Monday, September 9th. They issued a “hold” rating and a $33.00 price target for the company. JPMorgan Chase & Co. lifted their price target on BBB Foods from $30.00 to $34.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Scotiabank lifted their price target on BBB Foods from $33.00 to $36.00 and gave the company a “sector outperform” rating in a research report on Friday, May 31st. HSBC upgraded BBB Foods from a “reduce” rating to a “hold” rating and set a $31.00 price target for the company in a research report on Friday, August 23rd. Finally, Hsbc Global Res upgraded BBB Foods from a “strong sell” rating to a “hold” rating in a research report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, BBB Foods currently has a consensus rating of “Hold” and an average target price of $30.57.

About BBB Foods

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.