Caxton Associates LLP Buys New Holdings in Best Buy Co., Inc. $BBY

Key Points

• Caxton Associates LLP purchased a new stake in Best Buy, acquiring 13,981 shares valued at approximately $1,029,000 during the first quarter.
• Best Buy recently announced a quarterly dividend of $0.95 per share, set to be paid on October 9th, representing a 5.0% annualized yield.
• Shares of Best Buy opened at $76.66 and the company's recent earnings beat estimates, reporting $1.28 EPS and revenue of $9.44 billion for the quarter.

Caxton Associates LLP bought a new stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 13,981 shares of the technology retailer's stock, valued at approximately $1,029,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. LRI Investments LLC raised its holdings in Best Buy by 36.3% in the fourth quarter. LRI Investments LLC now owns 529 shares of the technology retailer's stock valued at $45,000 after acquiring an additional 141 shares in the last quarter. Community Bank & Trust Waco Texas raised its holdings in Best Buy by 0.5% in the first quarter. Community Bank & Trust Waco Texas now owns 30,970 shares of the technology retailer's stock valued at $2,280,000 after acquiring an additional 145 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Best Buy by 25.6% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 721 shares of the technology retailer's stock valued at $53,000 after acquiring an additional 147 shares in the last quarter. HB Wealth Management LLC raised its holdings in Best Buy by 2.4% in the first quarter. HB Wealth Management LLC now owns 6,348 shares of the technology retailer's stock valued at $467,000 after acquiring an additional 149 shares in the last quarter. Finally, Townsquare Capital LLC raised its holdings in Best Buy by 2.5% in the first quarter. Townsquare Capital LLC now owns 6,162 shares of the technology retailer's stock valued at $454,000 after acquiring an additional 153 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BBY. Truist Financial raised their price objective on shares of Best Buy from $69.00 to $72.00 and gave the stock a "hold" rating in a report on Friday, August 29th. Piper Sandler reissued a "neutral" rating and set a $75.00 price objective (down previously from $82.00) on shares of Best Buy in a report on Monday, July 14th. Evercore ISI raised their price objective on shares of Best Buy from $75.00 to $77.00 and gave the stock an "in-line" rating in a report on Friday, August 29th. Citigroup reissued a "buy" rating on shares of Best Buy in a report on Thursday, August 28th. Finally, Loop Capital cut their price objective on shares of Best Buy from $90.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, May 30th. Nine investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Best Buy currently has a consensus rating of "Hold" and an average target price of $82.59.

Insider Buying and Selling at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 196,100 shares of the business's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $74.00, for a total transaction of $14,511,400.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Mathew Watson sold 3,715 shares of the business's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $74.07, for a total transaction of $275,170.05. Following the sale, the chief accounting officer owned 22,150 shares in the company, valued at $1,640,650.50. The trade was a 14.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 201,833 shares of company stock worth $14,941,472 over the last three months. 0.47% of the stock is currently owned by corporate insiders.

Best Buy Stock Performance

Shares of BBY opened at $76.66 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 1.04. The stock has a market capitalization of $16.11 billion, a P/E ratio of 21.18, a P/E/G ratio of 2.03 and a beta of 1.19. The company's fifty day moving average is $70.98 and its two-hundred day moving average is $70.68. Best Buy Co., Inc. has a 1 year low of $54.99 and a 1 year high of $103.48.

Best Buy (NYSE:BBY - Get Free Report) last announced its quarterly earnings data on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.06. The company had revenue of $9.44 billion for the quarter, compared to analysts' expectations of $9.23 billion. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. Best Buy's revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.34 EPS. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. On average, sell-side analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be paid a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Thursday, September 18th. Best Buy's payout ratio is currently 104.97%.

Best Buy Company Profile

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.

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