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

Millennium Management LLC cut its position in BBB Foods Inc. (NYSE:TBBB) by 45.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 756,738 shares of the company’s stock after selling 638,525 shares during the period. Millennium Management LLC owned approximately 0.67% of BBB Foods worth $18,056,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. J.Safra Asset Management Corp purchased a new position in BBB Foods during the 1st quarter worth approximately $32,000. Hood River Capital Management LLC purchased a new position in shares of BBB Foods during the first quarter worth $54,000. National Bank of Canada FI acquired a new position in BBB Foods during the second quarter valued at $103,000. Federated Hermes Inc. purchased a new stake in BBB Foods in the second quarter valued at $143,000. Finally, Quent Capital LLC purchased a new stake in BBB Foods in the second quarter valued at $167,000. 8.42% of the stock is currently owned by hedge funds and other institutional investors.

BBB Foods Trading Up 2.7 %

Shares of NYSE:TBBB opened at $30.73 on Friday. The business’s 50 day moving average price is $29.37 and its 200-day moving average price is $25.75. BBB Foods Inc. has a 1 year low of $18.71 and a 1 year high of $33.16. 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 (NYSE:TBBB) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate 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. Research analysts anticipate that BBB Foods Inc. will post 0.14 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TBBB. HSBC raised BBB Foods from a “reduce” rating to a “hold” rating and set a $31.00 price objective for the company in a report on Friday, August 23rd. JPMorgan Chase & Co. boosted their price target on 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 began coverage on shares of BBB Foods in a research note on Monday, September 9th. They set a “hold” rating and a $33.00 price objective on the stock. Finally, Hsbc Global Res upgraded shares of BBB Foods from a “strong sell” rating to a “hold” rating in a research note on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $30.57.

BBB Foods 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.