Caprock Group LLC Boosts Holdings in Best Buy Co., Inc. $BBY

Key Points

• Caprock Group boosted its stake in Best Buy by 298.8% in Q4, adding 26,231 shares to hold 35,010 shares valued at $2.374 million.
• Best Buy reported quarterly EPS of $2.61, beating estimates while revenue was down 1.0% year-over-year, and set FY2027 guidance of 6.30–6.60 EPS (analysts model roughly 6.5).
• Best Buy increased its quarterly dividend to $0.96 (annualized $3.84, ~6.4% yield), even as insiders sold about 77,247 shares in the past 90 days, including sales by the CEO and CFO.

Caprock Group LLC lifted its holdings in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 298.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 35,010 shares of the technology retailer's stock after acquiring an additional 26,231 shares during the quarter. Caprock Group LLC's holdings in Best Buy were worth $2,374,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in BBY. Vanguard Group Inc. grew its stake in shares of Best Buy by 2.4% during the third quarter. Vanguard Group Inc. now owns 23,947,415 shares of the technology retailer's stock valued at $1,810,904,000 after buying an additional 552,360 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Best Buy by 46.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 142,288 shares of the technology retailer's stock valued at $10,760,000 after acquiring an additional 44,989 shares during the last quarter. CWM LLC boosted its holdings in Best Buy by 272.6% during the 3rd quarter. CWM LLC now owns 183,842 shares of the technology retailer's stock valued at $13,902,000 after acquiring an additional 134,508 shares during the period. Bank of New York Mellon Corp boosted its holdings in Best Buy by 2.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,754,844 shares of the technology retailer's stock valued at $132,701,000 after acquiring an additional 39,026 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in Best Buy by 155.9% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 157,400 shares of the technology retailer's stock worth $11,903,000 after acquiring an additional 95,900 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company's stock.

Best Buy Trading Down 1.7%

BBY opened at $60.45 on Friday. Best Buy Co., Inc. has a one year low of $59.77 and a one year high of $84.99. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.11 and a quick ratio of 0.43. The business has a 50 day simple moving average of $63.87 and a two-hundred day simple moving average of $70.00. The firm has a market capitalization of $12.64 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 1.52 and a beta of 1.35.

Best Buy (NYSE:BBY - Get Free Report) last issued its quarterly earnings data on Tuesday, March 3rd. The technology retailer reported $2.61 earnings per share for the quarter, topping analysts' consensus estimates of $2.48 by $0.13. The firm had revenue of $13.81 billion for the quarter, compared to analyst estimates of $13.96 billion. Best Buy had a return on equity of 49.17% and a net margin of 2.56%.The business's quarterly revenue was down 1.0% compared to the same quarter last year. During the same period last year, the company earned $2.58 EPS. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Analysts predict that Best Buy Co., Inc. will post 6.5 EPS for the current year.

Best Buy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 24th were given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date of this dividend was Tuesday, March 24th. This is an increase from Best Buy's previous quarterly dividend of $0.95. Best Buy's payout ratio is presently 76.19%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. DA Davidson set a $78.00 price target on Best Buy in a research note on Thursday, March 5th. Citigroup increased their price objective on Best Buy from $67.00 to $69.00 and gave the company a "neutral" rating in a research note on Wednesday, March 4th. Weiss Ratings restated a "hold (c)" rating on shares of Best Buy in a report on Wednesday, January 21st. Daiwa Securities Group decreased their target price on shares of Best Buy from $80.00 to $68.00 and set a "neutral" rating on the stock in a research note on Thursday, March 5th. Finally, Wells Fargo & Company dropped their price target on shares of Best Buy from $75.00 to $70.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 18th. Eight investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $74.85.

Insiders Place Their Bets

In other news, CFO Matthew M. Bilunas sold 11,356 shares of the firm's stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $64.02, for a total value of $727,011.12. Following the completion of the sale, the chief financial officer directly owned 76,884 shares of the company's stock, valued at approximately $4,922,113.68. This trade represents a 12.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Corie S. Barry sold 42,869 shares of Best Buy stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $64.02, for a total transaction of $2,744,473.38. Following the sale, the chief executive officer directly owned 523,138 shares in the company, valued at $33,491,294.76. The trade was a 7.57% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 77,247 shares of company stock worth $4,945,353. Company insiders own 0.47% of the company's stock.

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.

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