Jefferies Financial Group Inc. Has $8.78 Million Stake in Best Buy Co., Inc. $BBY

Jefferies Financial Group Inc. reduced its holdings in Best Buy Co., Inc. (NYSE:BBY) by 17.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 131,249 shares of the technology retailer’s stock after selling 28,651 shares during the period. Jefferies Financial Group Inc.’s holdings in Best Buy were worth $8,784,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of BBY. Palisade Asset Management LLC acquired a new stake in Best Buy in the third quarter worth $25,000. Torren Management LLC acquired a new stake in Best Buy in the fourth quarter worth $25,000. Root Financial Partners LLC acquired a new stake in Best Buy in the third quarter worth $32,000. Quest 10 Wealth Builders Inc. raised its holdings in Best Buy by 239.2% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 441 shares of the technology retailer’s stock worth $30,000 after purchasing an additional 311 shares during the period. Finally, Activest Wealth Management raised its holdings in Best Buy by 1,247.1% in the fourth quarter. Activest Wealth Management now owns 458 shares of the technology retailer’s stock worth $31,000 after purchasing an additional 424 shares during the period. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Best Buy

In related news, CFO Matthew M. Bilunas sold 11,356 shares of Best Buy stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total transaction of $727,011.12. Following the sale, the chief financial officer directly owned 76,884 shares of the company’s stock, valued at approximately $4,922,113.68. The trade was a 12.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Todd G. Hartman sold 5,339 shares of Best Buy stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total transaction of $341,802.78. Following the sale, the insider directly owned 44,098 shares in the company, valued at $2,823,153.96. This trade represents a 10.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 77,247 shares of company stock worth $4,945,353. Corporate insiders own 0.47% of the company’s stock.

Best Buy Price Performance

Shares of Best Buy stock opened at $61.53 on Monday. Best Buy Co., Inc. has a twelve month low of $55.10 and a twelve month high of $84.99. The company has a quick ratio of 0.43, a current ratio of 1.11 and a debt-to-equity ratio of 0.39. The company has a 50-day simple moving average of $61.72 and a two-hundred day simple moving average of $67.18. The stock has a market capitalization of $12.97 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 1.52 and a beta of 1.22.

Best Buy (NYSE:BBY) last released its earnings results on Tuesday, March 3rd. The technology retailer reported $2.61 EPS for the quarter, beating the consensus estimate of $2.48 by $0.13. Best Buy had a net margin of 2.56% and a return on equity of 49.17%. The firm had revenue of $13.81 billion for the quarter, compared to analyst estimates of $13.96 billion. During the same period last year, the firm earned $2.58 EPS. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Analysts forecast that Best Buy Co., Inc. will post 6.5 EPS for the current year.

Best Buy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 24th were issued a $0.96 dividend. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $3.84 annualized dividend and a yield of 6.2%. This is an increase from Best Buy’s previous quarterly dividend of $0.95. Best Buy’s payout ratio is 76.19%.

Analysts Set New Price Targets

Several research firms have weighed in on BBY. Weiss Ratings lowered shares of Best Buy from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Guggenheim reaffirmed a “buy” rating and issued a $90.00 target price on shares of Best Buy in a research report on Wednesday, March 4th. Wedbush raised their target price on shares of Best Buy from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Piper Sandler reiterated a “buy” rating on shares of Best Buy in a research note on Wednesday, March 4th. Finally, Jefferies Financial Group cut their price target on shares of Best Buy from $94.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, February 9th. Nine analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $70.80.

Key Headlines Impacting Best Buy

Here are the key news stories impacting Best Buy this week:

• Positive Sentiment: Best Buy is being viewed as likely to post solid first-quarter results, with analysts expecting in-line comparable sales and year-over-year earnings growth, which could help support the stock if the company meets those expectations. Best Buy Poised for In-Line First-Quarter Comparable Sales, Wedbush Says
• Positive Sentiment: Recent momentum has improved, with the stock outperforming over the past week even though it remains down year to date, suggesting investors may be positioning for the upcoming report. A Look At Best Buy Valuation As Earnings Expectations And Cautious Sentiment Shape The May 28 Report
• Neutral Sentiment: New back-to-school-style promotions in Canada, such as BMO’s student tech reward tied to Best Buy Canada, may help traffic, but the announcement appears more promotional than material for near-term earnings. Is Best Buy’s Student Tech Perks Masking Deeper Supply Chain And Leadership Questions?
• Negative Sentiment: Investor caution is rising because Best Buy is dealing with product shortages and an upcoming CEO transition, both of which could cloud the earnings outlook and pressure sentiment if management gives a conservative forecast. Is Best Buy’s Student Tech Perks Masking Deeper Supply Chain And Leadership Questions?
• Negative Sentiment: Several previews note that Best Buy may not have the best setup for an earnings beat, which could limit upside if results only match expectations rather than exceed them. Best Buy (BBY) Q1 Earnings Preview: What You Should Know Beyond the Headline Estimates

About Best Buy

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.