Jump Financial LLC Raises Holdings in Best Buy Co., Inc. $BBY

Jump Financial LLC increased its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 356.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 57,027 shares of the technology retailer’s stock after buying an additional 44,527 shares during the quarter. Jump Financial LLC’s holdings in Best Buy were worth $3,828,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of BBY. National Bank of Canada FI lifted its position in shares of Best Buy by 54.3% in the first quarter. National Bank of Canada FI now owns 147,931 shares of the technology retailer’s stock valued at $10,889,000 after acquiring an additional 52,043 shares in the last quarter. Townsquare Capital LLC raised its stake in Best Buy by 2.5% in the 1st quarter. Townsquare Capital LLC now owns 6,162 shares of the technology retailer’s stock valued at $454,000 after purchasing an additional 153 shares during the last quarter. Invesco Ltd. lifted its holdings in Best Buy by 6.4% in the 1st quarter. Invesco Ltd. now owns 3,926,787 shares of the technology retailer’s stock valued at $289,051,000 after purchasing an additional 234,669 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Best Buy during the 1st quarter worth about $39,579,000. Finally, SouthState Corp purchased a new stake in shares of Best Buy during the first quarter worth about $134,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Trading Up 1.4%

Shares of BBY opened at $74.18 on Thursday. Best Buy Co., Inc. has a twelve month low of $54.99 and a twelve month high of $91.68. The firm has a market capitalization of $15.54 billion, a P/E ratio of 24.56, a price-to-earnings-growth ratio of 1.86 and a beta of 1.37. The company has a current ratio of 1.05, a quick ratio of 0.26 and a debt-to-equity ratio of 0.44. The stock’s fifty day simple moving average is $77.90 and its 200 day simple moving average is $73.56.

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

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th will be issued a $0.95 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $3.80 annualized dividend and a yield of 5.1%. Best Buy’s dividend payout ratio (DPR) is presently 125.83%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group reduced their price objective on shares of Best Buy from $95.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, November 26th. Evercore ISI reduced their price target on Best Buy from $85.00 to $80.00 and set an “in-line” rating on the stock in a research note on Tuesday. BNP Paribas Exane decreased their price objective on Best Buy from $69.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday, November 26th. Jefferies Financial Group dropped their target price on Best Buy from $95.00 to $94.00 and set a “buy” rating for the company in a research note on Tuesday, November 25th. Finally, Bank of America reduced their target price on Best Buy from $63.00 to $60.00 and set an “underperform” rating on the stock in a research report on Friday, August 29th. Nine investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $84.47.

Insiders Place Their Bets

In other Best Buy news, Chairman Richard M. Schulze sold 500,000 shares of the business’s 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 in the company, valued at $1,009,316,450.32. The trade was a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 1,534,993 shares of company stock worth $126,626,855 over the last 90 days. Insiders own 0.47% of the company’s stock.

About Best Buy

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.