BBB Foods (NYSE:TBBB) Trading 3.4% Higher – Time to Buy?

BBB Foods Inc. (NYSE:TBBB) shot up 3.4% during mid-day trading on Thursday . The stock traded as high as $28.25 and last traded at $28.19. 447,656 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 838,435 shares. The stock had previously closed at $27.25.

Wall Street Analyst Weigh In

Separately, Itau BBA Securities began coverage on BBB Foods in a report on Wednesday, January 22nd. They issued a “market perform” rating and a $32.00 price target for the company. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $32.00.

BBB Foods Stock Down 10.1 %

The company has a 50-day simple moving average of $27.12 and a 200-day simple moving average of $29.56. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.79 and a quick ratio of 0.54.

Institutional Investors Weigh In On BBB Foods

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank bought a new stake in shares of BBB Foods during the fourth quarter valued at approximately $141,000. White Oak Capital Partners Pte. Ltd. acquired a new position in BBB Foods during the 4th quarter worth $226,000. Virtu Financial LLC bought a new position in BBB Foods in the 3rd quarter valued at $230,000. J.Safra Asset Management Corp raised its position in shares of BBB Foods by 204.7% during the fourth quarter. J.Safra Asset Management Corp now owns 10,264 shares of the company’s stock worth $293,000 after acquiring an additional 6,895 shares during the last quarter. Finally, Numerai GP LLC bought a new position in BBB Foods in the fourth quarter valued at about $310,000. Institutional investors and hedge funds own 8.42% of the company’s stock.

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.