BBB Foods (NYSE:TBBB) Sees Strong Trading Volume – Still a Buy?

BBB Foods Inc. (NYSE:TBBB) saw unusually-high trading volume on Thursday . Approximately 2,530,934 shares traded hands during trading, an increase of 221% from the previous session’s volume of 789,636 shares.The stock last traded at $28.35 and had previously closed at $28.57.

Wall Street Analysts Forecast Growth

Separately, Itau BBA Securities assumed coverage on BBB Foods in a research report on Wednesday, January 22nd. They set a “market perform” rating and a $32.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, BBB Foods presently has a consensus rating of “Hold” and an average target price of $30.75.

BBB Foods Stock Up 1.7 %

The company has a quick ratio of 0.54, a current ratio of 0.79 and a debt-to-equity ratio of 1.72. The business has a 50 day moving average price of $29.60 and a 200-day moving average price of $30.15.

BBB Foods (NYSE:TBBB) last announced its earnings results on Monday, November 25th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.07. Equities analysts predict that BBB Foods Inc. will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On BBB Foods

A number of institutional investors have recently made changes to their positions in TBBB. J.Safra Asset Management Corp grew its position in shares of BBB Foods by 204.7% during the 4th quarter. J.Safra Asset Management Corp now owns 10,264 shares of the company’s stock valued at $293,000 after buying an additional 6,895 shares during the last quarter. JPMorgan Chase & Co. increased its stake in BBB Foods by 0.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,274,625 shares of the company’s stock valued at $38,239,000 after buying an additional 7,014 shares during the period. Verdence Capital Advisors LLC acquired a new stake in BBB Foods in the third quarter worth approximately $224,000. Virtu Financial LLC acquired a new position in BBB Foods during the third quarter worth about $230,000. Finally, XTX Topco Ltd raised its position in BBB Foods by 95.9% in the third quarter. XTX Topco Ltd now owns 23,756 shares of the company’s stock worth $713,000 after acquiring an additional 11,632 shares in the last quarter. 8.42% of the stock is currently owned by institutional investors.

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.