BBB Foods Inc. (NYSE:TBBB) Given Consensus Rating of “Moderate Buy” by Analysts

BBB Foods Inc. (NYSE:TBBB) has been given an average recommendation of “Moderate Buy” by the five research firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $30.00.

Several brokerages recently weighed in on TBBB. HSBC raised shares of 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. Scotiabank boosted their price target on BBB Foods from $33.00 to $36.00 and gave the stock a “sector outperform” rating in a research note on Friday, May 31st. Bank of America upped their price target on BBB Foods from $26.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on BBB Foods from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th.

Hedge Funds Weigh In On BBB Foods

A number of hedge funds have recently modified their holdings of TBBB. Driehaus Capital Management LLC bought a new position in shares of BBB Foods in the second quarter worth about $26,562,000. The Manufacturers Life Insurance Company boosted its stake in BBB Foods by 23.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 686,606 shares of the company’s stock worth $16,382,000 after purchasing an additional 129,773 shares during the period. Employees Retirement System of Texas grew its holdings in BBB Foods by 661.5% during the 2nd 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 in the last quarter. Engle Capital Management L.P. raised its position in shares of BBB Foods by 0.7% during the second quarter. Engle Capital Management L.P. now owns 720,000 shares of the company’s stock valued at $17,179,000 after buying an additional 5,000 shares during the last quarter. Finally, Point72 Europe London LLP lifted its holdings in shares of BBB Foods by 158.3% in the second quarter. Point72 Europe London LLP now owns 150,000 shares of the company’s stock worth $3,579,000 after buying an additional 91,927 shares in the last quarter. 8.42% of the stock is currently owned by institutional investors.

BBB Foods Price Performance

Shares of NYSE:TBBB opened at $29.83 on Friday. The company’s fifty day moving average is $25.36. BBB Foods has a 12-month low of $18.71 and a 12-month high of $30.51.

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.