Van ECK Associates Corp Acquires 24,963 Shares of BBB Foods Inc. (NYSE:TBBB)

Van ECK Associates Corp lifted its holdings in BBB Foods Inc. (NYSE:TBBB) by 13.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 207,878 shares of the company’s stock after purchasing an additional 24,963 shares during the quarter. Van ECK Associates Corp’s holdings in BBB Foods were worth $6,727,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in TBBB. J.Safra Asset Management Corp bought a new position in shares of BBB Foods in the 1st quarter valued at about $32,000. Hood River Capital Management LLC acquired a new stake in shares of BBB Foods in the first quarter valued at approximately $54,000. National Bank of Canada FI bought a new position in shares of BBB Foods during the 2nd quarter worth approximately $103,000. Engle Capital Management L.P. increased its holdings in shares of BBB Foods by 0.7% during the 2nd 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 during the last quarter. Finally, Federated Hermes Inc. bought a new stake in BBB Foods in the 2nd quarter valued at $143,000. Institutional investors and hedge funds own 8.42% of the company’s stock.

BBB Foods Price Performance

Shares of NYSE TBBB opened at $32.56 on Friday. BBB Foods Inc. has a fifty-two week low of $18.71 and a fifty-two week high of $35.22. 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 fifty day moving average price of $31.38 and a two-hundred day moving average price of $27.45.

BBB Foods (NYSE:TBBB) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.15. The firm had revenue of $788.28 million during the quarter, compared to the consensus estimate of $708.69 million. On average, equities research analysts anticipate that BBB Foods Inc. will post 0.14 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TBBB shares. Jefferies Financial Group initiated coverage on shares of BBB Foods in a research report on Monday, September 9th. They issued a “hold” rating and a $33.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on shares of BBB Foods from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. HSBC raised BBB Foods from a “reduce” rating to a “hold” rating and set a $31.00 target price on the stock in a research report on Friday, August 23rd. Finally, Hsbc Global Res raised BBB Foods from a “strong sell” rating to a “hold” rating in a report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $30.57.

BBB Foods Company 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.