State of New Jersey Common Pension Fund D Increases Stock Holdings in BBB Foods Inc. (NYSE:TBBB)

State of New Jersey Common Pension Fund D grew its stake in BBB Foods Inc. (NYSE:TBBB) by 29.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,664 shares of the company’s stock after buying an additional 11,663 shares during the period. State of New Jersey Common Pension Fund D’s holdings in BBB Foods were worth $1,550,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of TBBB. Verdence Capital Advisors LLC purchased a new stake in BBB Foods in the third quarter valued at $224,000. Van ECK Associates Corp lifted its holdings in shares of BBB Foods by 13.6% in the 3rd quarter. Van ECK Associates Corp now owns 207,878 shares of the company’s stock valued at $6,727,000 after purchasing an additional 24,963 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of BBB Foods in the 2nd quarter valued at about $26,562,000. The Manufacturers Life Insurance Company grew its stake in BBB Foods by 23.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 686,606 shares of the company’s stock worth $16,382,000 after buying an additional 129,773 shares during the last quarter. Finally, Employees Retirement System of Texas lifted its stake in BBB Foods by 661.5% in the second quarter. Employees Retirement System of Texas now owns 211,709 shares of the company’s stock valued at $5,051,000 after buying an additional 183,909 shares during the last quarter. 8.42% of the stock is owned by hedge funds and other institutional investors.

BBB Foods Stock Performance

NYSE TBBB opened at $32.11 on Tuesday. The business’s 50 day moving average is $31.69 and its two-hundred day moving average is $28.00. BBB Foods Inc. has a 12-month low of $18.71 and a 12-month high of $35.22. 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 announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.17 earnings per share 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 analyst estimates of $708.69 million. As a group, analysts expect that BBB Foods Inc. will post 0.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Hsbc Global Res raised shares of BBB Foods from a “strong sell” rating to a “hold” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. increased their target price on shares of BBB Foods from $30.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Jefferies Financial Group started coverage on BBB Foods in a research report on Monday, September 9th. They issued a “hold” rating and a $33.00 price target on the stock. 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 research report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $30.57.

About BBB Foods

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.