Best Buy Co., Inc. $BBY Stake Lifted by Machina Capital S.A.S.

Machina Capital S.A.S. boosted its position in Best Buy Co., Inc. (NYSE:BBY) by 574.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,491 shares of the technology retailer’s stock after purchasing an additional 17,454 shares during the period. Machina Capital S.A.S.’s holdings in Best Buy were worth $1,679,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BBY. DSG Capital Advisors LLC acquired a new position in Best Buy during the third quarter worth about $882,000. Illinois Municipal Retirement Fund raised its position in Best Buy by 7.7% in the third quarter. Illinois Municipal Retirement Fund now owns 212,549 shares of the technology retailer’s stock worth $18,755,000 after acquiring an additional 15,128 shares in the last quarter. Lido Advisors LLC lifted its holdings in Best Buy by 345.2% in the 3rd quarter. Lido Advisors LLC now owns 53,356 shares of the technology retailer’s stock valued at $4,708,000 after acquiring an additional 41,370 shares during the last quarter. Keybank National Association OH lifted its holdings in Best Buy by 37.2% in the 3rd quarter. Keybank National Association OH now owns 20,107 shares of the technology retailer’s stock valued at $1,658,000 after acquiring an additional 5,451 shares during the last quarter. Finally, New York Life Investment Management LLC boosted its position in shares of Best Buy by 70.2% during the 3rd quarter. New York Life Investment Management LLC now owns 89,929 shares of the technology retailer’s stock valued at $7,220,000 after purchasing an additional 37,088 shares in the last quarter. 80.96% of the stock is owned by institutional investors.

Insider Buying and Selling at Best Buy

In other news, Chairman Richard Schulze sold 300,000 shares of Best Buy stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $92.51, for a total transaction of $27,753,000.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kathleen Scarlett sold 116,062 shares of the company’s stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $92.15, for a total value of $10,695,113.30. Following the transaction, the executive vice president directly owned 116,173 shares in the company, valued at $10,705,341.95. The trade was a 49.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Telsey Advisory Group lifted their price objective on shares of Best Buy from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 4th. Wall Street Zen raised shares of Best Buy from a “hold” rating to a “buy” rating in a research note on Sunday, October 11th. UBS Group reissued a “neutral” rating and set a $90.00 target price (up from $86.00) on shares of Best Buy in a research note on Friday, August 28th. Citigroup raised their target price 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. Finally, Wedbush restated a “buy” rating on shares of Best Buy in a research report on Monday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $87.33.

Best Buy Stock Down 1.6%

BBY stock opened at $103.44 on Friday. Best Buy Co., Inc. has a 52-week low of $55.10 and a 52-week high of $106.83. The company’s 50 day simple moving average is $93.30 and its 200-day simple moving average is $76.86. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.12 and a quick ratio of 0.41. The firm has a market capitalization of $21.69 billion, a P/E ratio of 17.21, a P/E/G ratio of 2.63 and a beta of 1.20.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Thursday, August 27th. The technology retailer reported $1.47 EPS for the quarter, beating the consensus estimate of $1.39 by $0.08. Best Buy had a net margin of 3.01% and a return on equity of 48.14%. The business had revenue of $9.78 billion during the quarter, compared to the consensus estimate of $9.59 billion. During the same quarter in the prior year, the firm earned $1.28 EPS. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. As a group, equities research analysts anticipate that Best Buy Co., Inc. will post 6.81 EPS for the current year.

Best Buy Dividend Announcement

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

About Best Buy

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.