Best Buy Co., Inc. $BBY Shares Bought by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. raised its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 134.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 159,900 shares of the technology retailer’s stock after buying an additional 91,730 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Best Buy were worth $12,092,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Parallel Advisors LLC grew its stake in Best Buy by 8.2% during the 3rd quarter. Parallel Advisors LLC now owns 2,677 shares of the technology retailer’s stock valued at $202,000 after acquiring an additional 202 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in Best Buy by 6.1% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 160,416 shares of the technology retailer’s stock worth $12,131,000 after purchasing an additional 9,205 shares in the last quarter. Natixis Advisors LLC boosted its holdings in shares of Best Buy by 5.8% during the 3rd quarter. Natixis Advisors LLC now owns 53,269 shares of the technology retailer’s stock worth $4,028,000 after purchasing an additional 2,907 shares during the last quarter. Korea Investment CORP boosted its holdings in shares of Best Buy by 46.5% during the 3rd quarter. Korea Investment CORP now owns 174,108 shares of the technology retailer’s stock worth $13,166,000 after purchasing an additional 55,266 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its position in shares of Best Buy by 38.5% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 147,821 shares of the technology retailer’s stock valued at $11,178,000 after purchasing an additional 41,073 shares in the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Best Buy Trading Up 1.3%

Shares of Best Buy stock opened at $66.48 on Monday. The firm has a market capitalization of $13.90 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.64 and a beta of 1.46. Best Buy Co., Inc. has a fifty-two week low of $54.99 and a fifty-two week high of $84.99. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.43 and a current ratio of 1.11. The stock has a 50 day moving average of $66.63 and a 200 day moving average of $72.76.

Best Buy (NYSE:BBY) last posted its earnings results on Tuesday, March 3rd. The technology retailer reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.13. Best Buy had a return on equity of 49.17% and a net margin of 2.56%.The company had revenue of $13.81 billion for the quarter, compared to the consensus estimate of $13.96 billion. During the same quarter in the previous year, the business earned $2.58 earnings per share. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, research analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 24th will be issued a $0.96 dividend. This is an increase from Best Buy’s previous quarterly dividend of $0.95. The ex-dividend date is Tuesday, March 24th. This represents a $3.84 annualized dividend and a yield of 5.8%. Best Buy’s payout ratio is presently 76.19%.

Analyst Ratings Changes

A number of equities analysts recently commented on BBY shares. BNP Paribas Exane lifted their price objective on Best Buy from $68.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 4th. Barclays cut their target price on Best Buy from $81.00 to $77.00 and set an “equal weight” rating for the company in a research note on Thursday, January 8th. Wedbush reduced their price target on Best Buy from $80.00 to $70.00 and set a “neutral” rating on the stock in a report on Tuesday, February 24th. Evercore reissued a “buy” rating and set a $75.00 price target on shares of Best Buy in a research report on Wednesday. Finally, Daiwa Securities Group dropped their price objective on shares of Best Buy from $80.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday. Nine analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $76.20.

Best Buy 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.