Interval Partners LP Acquires 408,744 Shares of Best Buy Co., Inc. $BBY

Key Points

• Interval Partners LP increased its stake in Best Buy by 1,762.4% in Q3, buying 408,744 shares to hold 431,937 shares (~0.21% of the company) worth about $32.7 million.
• Best Buy reported Q results with EPS of $2.61, beating estimates while revenue fell 1% year‑over‑year; the company set FY2027 guidance of $6.30–$6.60 per share and analysts project roughly $6.18.
• Best Buy raised its quarterly dividend to $0.96 (annualized $3.84), yielding ~6.1% with a payout ratio of 75.4%, and the consensus analyst view is a Hold with a $76.20 price target.

Interval Partners LP lifted its holdings in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 1,762.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 431,937 shares of the technology retailer's stock after acquiring an additional 408,744 shares during the period. Interval Partners LP owned 0.21% of Best Buy worth $32,663,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. raised its position in Best Buy by 69.3% during the third quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer's stock valued at $25,000 after purchasing an additional 138 shares during the period. Root Financial Partners LLC purchased a new position in shares of Best Buy in the 3rd quarter worth approximately $32,000. CYBER HORNET ETFs LLC purchased a new position in shares of Best Buy in the 2nd quarter worth approximately $33,000. MUFG Securities EMEA plc bought a new position in shares of Best Buy during the 2nd quarter valued at approximately $38,000. Finally, Zions Bancorporation National Association UT raised its holdings in Best Buy by 1,385.4% during the 3rd quarter. Zions Bancorporation National Association UT now owns 609 shares of the technology retailer's stock valued at $46,000 after buying an additional 568 shares during the period. Hedge funds and other institutional investors own 80.96% of the company's stock.

Best Buy Stock Performance

BBY stock opened at $62.64 on Friday. Best Buy Co., Inc. has a twelve month low of $54.99 and a twelve month high of $84.99. The firm has a market cap of $13.10 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 1.54 and a beta of 1.46. The business's fifty day simple moving average is $66.25 and its two-hundred day simple moving average is $72.43. The company has a quick ratio of 0.43, a current ratio of 1.11 and a debt-to-equity ratio of 0.39.

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

Best Buy Increases Dividend

The company also recently declared 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. The ex-dividend date is Tuesday, March 24th. This is a positive change from Best Buy's previous quarterly dividend of $0.95. This represents a $3.84 dividend on an annualized basis and a dividend yield of 6.1%. Best Buy's dividend payout ratio (DPR) is presently 75.40%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BBY. Barclays lowered their price target on Best Buy from $81.00 to $77.00 and set an "equal weight" rating for the company in a research report on Thursday, January 8th. Jefferies Financial Group reduced their target price on shares of Best Buy from $94.00 to $89.00 and set a "buy" rating on the stock in a research note on Monday, February 9th. The Goldman Sachs Group lowered their target price on shares of Best Buy from $93.00 to $76.00 and set a "buy" rating for the company in a report on Wednesday, March 4th. DA Davidson set a $78.00 price target on shares of Best Buy in a report on Thursday, March 5th. Finally, Daiwa Securities Group reduced their price objective on shares of Best Buy from $80.00 to $68.00 and set a "neutral" rating on the stock in a research report on Thursday, March 5th. Nine investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Best Buy has an average rating of "Hold" and a consensus price target of $76.20.

About Best Buy

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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