Caxton Associates LLP Acquires Shares of 30,100 Best Buy Co., Inc. $BBY

Caxton Associates LLP bought a new stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 30,100 shares of the technology retailer's stock, valued at approximately $1,932,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in BBY. AQR Capital Management LLC lifted its stake in shares of Best Buy by 99.8% during the third quarter. AQR Capital Management LLC now owns 6,997,871 shares of the technology retailer's stock valued at $525,120,000 after acquiring an additional 3,496,254 shares during the period. Norges Bank acquired a new stake in Best Buy in the fourth quarter worth about $174,685,000. Schroder Investment Management Group raised its holdings in Best Buy by 378.8% during the 4th quarter. Schroder Investment Management Group now owns 3,096,015 shares of the technology retailer's stock worth $207,216,000 after purchasing an additional 2,449,342 shares during the last quarter. Hsbc Holdings PLC raised its holdings in Best Buy by 104.1% during the 4th quarter. Hsbc Holdings PLC now owns 2,020,539 shares of the technology retailer's stock worth $135,685,000 after purchasing an additional 1,030,544 shares during the last quarter. Finally, KBC Group NV lifted its position in Best Buy by 293.6% during the 4th quarter. KBC Group NV now owns 1,052,805 shares of the technology retailer's stock valued at $70,464,000 after purchasing an additional 785,294 shares during the period. Institutional investors own 80.96% of the company's stock.

Best Buy Stock Performance

Shares of BBY stock opened at $85.26 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 0.40. The stock has a market cap of $17.97 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 2.27 and a beta of 1.30. The stock has a 50-day moving average of $75.59 and a 200-day moving average of $68.19. Best Buy Co., Inc. has a one year low of $55.10 and a one year high of $87.35.

Best Buy (NYSE:BBY - Get Free Report) last announced its quarterly earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $0.05. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. The business had revenue of $8.94 billion for the quarter, compared to the consensus estimate of $8.82 billion. During the same period last year, the company posted $1.15 EPS. Best Buy's revenue for the quarter was up 1.9% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, sell-side analysts expect that Best Buy Co., Inc. will post 6.56 earnings per share for the current year.

Best Buy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th were issued a $0.96 dividend. The ex-dividend date was Thursday, June 18th. This represents a $3.84 annualized dividend and a yield of 4.5%. Best Buy's dividend payout ratio (DPR) is 71.11%.

Insider Buying and Selling at Best Buy

In other news, CAO Mathew Watson sold 1,784 shares of Best Buy stock in a transaction on Friday, May 29th. The shares were sold at an average price of $73.80, for a total transaction of $131,659.20. Following the transaction, the chief accounting officer directly owned 21,630 shares of the company's stock, valued at $1,596,294. This trade represents a 7.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Richard M. Schulze sold 224,705 shares of the business's stock in a transaction on Friday, June 26th. The shares were sold at an average price of $78.10, for a total transaction of $17,549,460.50. Following the completion of the transaction, the chairman directly owned 10,430,936 shares of the company's stock, valued at $814,656,101.60. This trade represents a 2.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 1,002,134 shares of company stock worth $77,283,527. Company insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

BBY has been the topic of several recent research reports. Wall Street Zen lowered shares of Best Buy from a "buy" rating to a "hold" rating in a research note on Monday, July 20th. BNP Paribas Exane boosted their price target on shares of Best Buy from $74.00 to $76.00 and gave the stock a "neutral" rating in a research note on Friday, May 29th. Guggenheim restated a "buy" rating and issued a $90.00 price objective on shares of Best Buy in a report on Friday, May 29th. Weiss Ratings raised shares of Best Buy from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, June 11th. Finally, Morgan Stanley lifted their target price on shares of Best Buy from $72.00 to $80.00 and gave the stock an "equal weight" rating in a report on Friday, May 29th. Five research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $79.50.

Best Buy Company 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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