Stevens Capital Management LP Takes $722,000 Position in Best Buy Co., Inc. $BBY

Stevens Capital Management LP bought a new position in Best Buy Co., Inc. (NYSE:BBY) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 10,761 shares of the technology retailer’s stock, valued at approximately $722,000.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Best Buy by 1.8% during the second quarter. Vanguard Group Inc. now owns 23,395,055 shares of the technology retailer’s stock worth $1,570,510,000 after acquiring an additional 419,312 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Best Buy by 6.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,968,973 shares of the technology retailer’s stock valued at $512,986,000 after purchasing an additional 408,605 shares during the last quarter. Invesco Ltd. boosted its position in shares of Best Buy by 6.4% in the 1st quarter. Invesco Ltd. now owns 3,926,787 shares of the technology retailer’s stock worth $289,051,000 after purchasing an additional 234,669 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Best Buy by 3.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,263,142 shares of the technology retailer’s stock worth $240,173,000 after buying an additional 105,710 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Best Buy by 36.5% during the 1st quarter. AQR Capital Management LLC now owns 2,510,476 shares of the technology retailer’s stock valued at $181,357,000 after buying an additional 671,408 shares in the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Best Buy Price Performance

Shares of NYSE:BBY opened at $76.41 on Friday. Best Buy Co., Inc. has a twelve month low of $54.99 and a twelve month high of $95.49. The firm’s 50 day moving average price is $77.42 and its 200-day moving average price is $73.07. The company has a quick ratio of 0.36, a current ratio of 1.04 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $16.05 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 2.21 and a beta of 1.25.

Best Buy (NYSE:BBY) last announced its earnings results on Thursday, August 28th. The technology retailer reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.23 billion. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.Best Buy’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the firm earned $1.34 EPS. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. Equities research analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 5.0%. The ex-dividend date was Thursday, September 18th. Best Buy’s payout ratio is presently 104.97%.

Analyst Ratings Changes

BBY has been the topic of several analyst reports. Truist Financial boosted their target price on Best Buy from $72.00 to $79.00 and gave the stock a “hold” rating in a report on Friday, November 7th. Wall Street Zen lowered Best Buy from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Evercore ISI dropped their price target on shares of Best Buy from $85.00 to $80.00 in a research note on Tuesday. Argus restated a “hold” rating on shares of Best Buy in a research note on Tuesday, September 16th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $74.00 target price on shares of Best Buy in a report on Friday, August 29th. Eight research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $83.56.

Insider Activity at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 500,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chairman directly owned 12,486,904 shares of the company’s stock, valued at $1,009,316,450.32. This trade represents a 3.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Mathew Watson sold 3,715 shares of Best Buy stock in a transaction on Friday, August 29th. The shares were sold at an average price of $74.07, for a total transaction of $275,170.05. Following the completion of the sale, the chief accounting officer owned 22,150 shares in the company, valued at approximately $1,640,650.50. This represents a 14.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,736,826 shares of company stock valued at $141,568,327 over the last 90 days. 0.47% of the stock is currently owned by corporate insiders.

Best Buy Profile

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.