Best Buy Co., Inc. $BBY Shares Newly Acquired by StoneX Group Inc.

StoneX Group Inc. bought a new stake in Best Buy Co., Inc. (NYSE:BBY) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 6,304 shares of the technology retailer’s stock, valued at approximately $556,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. B.A. Schrock Wealth Management Inc. purchased a new stake in Best Buy in the third quarter valued at $2,064,000. Corient Private Wealth LP purchased a new position in shares of Best Buy during the 2nd quarter worth $18,648,000. Yousif Capital Management LLC grew its holdings in shares of Best Buy by 139.3% during the 3rd quarter. Yousif Capital Management LLC now owns 61,305 shares of the technology retailer’s stock worth $5,410,000 after purchasing an additional 35,684 shares during the period. Munich Reinsurance Co Stock Corp in Munich increased its position in shares of Best Buy by 80.0% during the 2nd quarter. Munich Reinsurance Co Stock Corp in Munich now owns 92,464 shares of the technology retailer’s stock worth $7,016,000 after purchasing an additional 41,092 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Best Buy during the 2nd quarter worth about $2,734,000. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on BBY. Telsey Advisory Group upped their target price on shares of Best Buy from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, August 4th. Piper Sandler lifted their price target on shares of Best Buy from $77.00 to $85.00 and gave the company a “neutral” rating in a research report on Thursday, August 20th. Wells Fargo & Company boosted their price target on shares of Best Buy from $85.00 to $95.00 and gave the company an “equal weight” rating in a research note on Friday, November 6th. Jefferies Financial Group lowered shares of Best Buy from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $89.00 to $85.00 in a report on Wednesday, August 5th. Finally, Citigroup upped their price objective on shares of Best Buy from $88.00 to $102.00 and gave the stock a “neutral” rating in a report on Friday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $87.35.

Best Buy Price Performance

BBY opened at $105.15 on Thursday. The stock’s 50-day moving average price is $92.98 and its 200 day moving average price is $76.68. Best Buy Co., Inc. has a 12-month low of $55.10 and a 12-month high of $106.83. The company has a current ratio of 1.12, a quick ratio of 0.41 and a debt-to-equity ratio of 0.36. The firm has a market cap of $22.05 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 2.60 and a beta of 1.20.

Best Buy (NYSE:BBY) last released its earnings results on Thursday, August 27th. The technology retailer reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.08. The company had revenue of $9.78 billion during the quarter, compared to the consensus estimate of $9.59 billion. Best Buy had a return on equity of 48.14% and a net margin of 3.01%. Best Buy’s revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.28 EPS. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. As a group, sell-side analysts expect that Best Buy Co., Inc. will post 6.81 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th were paid a $0.96 dividend. The ex-dividend date of this dividend was Thursday, September 17th. This represents a $3.84 annualized dividend and a dividend yield of 3.7%. Best Buy’s dividend payout ratio (DPR) is presently 63.89%.

Insider Buying and Selling

In other Best Buy news, Chairman Richard M. Schulze sold 300,000 shares of the stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $92.51, for a total transaction of $27,753,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kathleen Scarlett sold 116,062 shares of the firm’s stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $92.15, for a total transaction of $10,695,113.30. Following the completion of the transaction, the executive vice president directly owned 116,173 shares of the company’s stock, valued at $10,705,341.95. This represents a 49.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.50% of the company’s stock.

Best Buy Profile

Best Buy is a retailer of consumer technology products and services. Its offerings include computers and mobile devices, televisions and home theater equipment, major appliances, and related accessories, sold through stores and digital channels. The company also provides technology support and installation services through Geek Squad, including help with device setup, repairs, and home technology systems. Best Buy serves customers in the United States and Canada. Founded in 1966 as Sound of Music, the company adopted the Best Buy name in 1983.