MGO One Seven LLC Makes New $2.89 Million Investment in Best Buy Co., Inc. $BBY

MGO One Seven LLC bought a new position in shares of Best Buy Co., Inc. (NYSE:BBY) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 38,219 shares of the technology retailer’s stock, valued at approximately $2,890,000.

Several other institutional investors have also added to or reduced their stakes in BBY. LVW Advisors LLC increased its position in Best Buy by 3.9% during the 3rd quarter. LVW Advisors LLC now owns 3,633 shares of the technology retailer’s stock worth $275,000 after buying an additional 137 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Best Buy by 69.3% in the third quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock valued at $25,000 after acquiring an additional 138 shares in the last quarter. Panagora Asset Management Inc. raised its stake in Best Buy by 1.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 9,513 shares of the technology retailer’s stock worth $639,000 after purchasing an additional 144 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Best Buy by 2.1% in the 3rd quarter. GAMMA Investing LLC now owns 7,220 shares of the technology retailer’s stock valued at $546,000 after purchasing an additional 150 shares during the period. Finally, Capital Investment Advisors LLC grew its position in shares of Best Buy by 0.8% during the 2nd quarter. Capital Investment Advisors LLC now owns 19,033 shares of the technology retailer’s stock worth $1,278,000 after purchasing an additional 154 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Chairman Richard M. Schulze sold 500,000 shares of Best Buy stock in a transaction on Monday, October 20th. The shares were sold at an average price of $80.83, for a total transaction of $40,415,000.00. Following the transaction, the chairman owned 12,486,904 shares in the company, valued at approximately $1,009,316,450.32. The trade was a 3.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 1,534,993 shares of company stock worth $126,626,855 over the last ninety days. 0.59% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on BBY. Telsey Advisory Group increased their price target on Best Buy from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 26th. BNP Paribas Exane reduced their target price on Best Buy from $69.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday, November 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Best Buy in a research note on Wednesday, October 8th. Wedbush reiterated a “neutral” rating and set a $75.00 price objective on shares of Best Buy in a research note on Thursday, November 20th. Finally, Citigroup raised their target price on shares of Best Buy from $73.00 to $82.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Nine analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $83.89.

Best Buy Trading Up 0.3%

NYSE BBY opened at $67.37 on Wednesday. The company has a market cap of $14.12 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 1.70 and a beta of 1.41. Best Buy Co., Inc. has a twelve month low of $54.99 and a twelve month high of $91.68. The company has a quick ratio of 0.26, a current ratio of 1.05 and a debt-to-equity ratio of 0.44. The business’s fifty day moving average is $73.49 and its 200 day moving average is $73.67.

Best Buy (NYSE:BBY) last posted its earnings results on Tuesday, November 25th. The technology retailer reported $1.40 EPS for the quarter, beating the consensus estimate of $1.31 by $0.09. The firm had revenue of $9.67 billion during the quarter, compared to the consensus estimate of $9.57 billion. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the company earned $1.26 earnings per share. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. As a group, sell-side analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 16th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 5.6%. The ex-dividend date was Tuesday, December 16th. Best Buy’s dividend payout ratio is 125.83%.

Best Buy Company Profile

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.