Employees Retirement System of Texas Has $5.05 Million Stock Position in BBB Foods Inc. (NYSE:TBBB)

Employees Retirement System of Texas lifted its stake in shares of BBB Foods Inc. (NYSE:TBBB) by 661.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 211,709 shares of the company’s stock after acquiring an additional 183,909 shares during the quarter. Employees Retirement System of Texas owned approximately 0.19% of BBB Foods worth $5,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of TBBB. Capital International Investors acquired a new stake in shares of BBB Foods during the 1st quarter worth approximately $120,440,000. William Blair Investment Management LLC bought a new position in shares of BBB Foods during the 1st quarter worth about $48,934,000. Capital International Inc. CA acquired a new stake in shares of BBB Foods in the 1st quarter valued at about $33,004,000. Thornburg Investment Management Inc. acquired a new position in BBB Foods during the 1st quarter worth approximately $18,668,000. Finally, Engle Capital Management L.P. boosted its holdings in BBB Foods by 0.7% in the second quarter. Engle Capital Management L.P. now owns 720,000 shares of the company’s stock worth $17,179,000 after acquiring an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 8.42% of the company’s stock.

Analyst Upgrades and Downgrades

TBBB has been the topic of a number of research reports. Hsbc Global Res raised BBB Foods from a “strong sell” rating to a “hold” rating in a research report on Friday, August 23rd. Scotiabank raised their price objective on shares of BBB Foods from $33.00 to $36.00 and gave the company a “sector outperform” rating in a research note on Friday, May 31st. JPMorgan Chase & Co. upped their target price on shares of BBB Foods from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Jefferies Financial Group assumed coverage on BBB Foods in a research note on Monday, September 9th. They set a “hold” rating and a $33.00 price target for the company. Finally, 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. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, BBB Foods has a consensus rating of “Hold” and an average price target of $30.57.

BBB Foods Price Performance

Shares of BBB Foods stock opened at $31.55 on Thursday. The business’s fifty day simple moving average is $28.83 and its 200 day simple moving average is $25.34. 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 Inc. has a 12 month low of $18.71 and a 12 month 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 analysts’ consensus estimates of $0.02 by $0.15. The business had revenue of $788.28 million for the quarter, compared to the consensus estimate of $708.69 million. Research analysts expect that BBB Foods Inc. will post 0.14 earnings per share for the current fiscal year.

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.