Jefferies Financial Group Inc. Boosts Holdings in Best Buy Co., Inc. $BBY

Key Points

• Jefferies Financial Group boosted its stake in Best Buy by 134.6% in Q3 to 159,900 shares (about $12.09M), and institutional investors now own roughly 80.96% of the company after several large firms also increased positions.
• Best Buy reported quarterly EPS of $2.61, beating estimates while revenue of $13.81B slightly missed and was down 1% year‑over‑year; the company set FY2027 guidance of 6.30–6.60 EPS.
• Best Buy raised its quarterly dividend to $0.96 (annualized $3.84) for a ~5.8% yield, and analysts hold a consensus "Hold" rating with an average price target of $76.20.

Jefferies Financial Group Inc. boosted its stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 134.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 159,900 shares of the technology retailer's stock after purchasing an additional 91,730 shares during the period. Jefferies Financial Group Inc. owned approximately 0.08% of Best Buy worth $12,092,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Best Buy by 2.4% during the third quarter. Vanguard Group Inc. now owns 23,947,415 shares of the technology retailer's stock worth $1,810,904,000 after acquiring an additional 552,360 shares during the period. State Street Corp boosted its position in Best Buy by 3.8% in the 2nd quarter. State Street Corp now owns 13,631,429 shares of the technology retailer's stock worth $927,753,000 after purchasing an additional 496,215 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Best Buy by 1.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,038,506 shares of the technology retailer's stock worth $472,495,000 after purchasing an additional 69,533 shares in the last quarter. Invesco Ltd. grew its stake in shares of Best Buy by 15.8% during the 2nd quarter. Invesco Ltd. now owns 4,548,650 shares of the technology retailer's stock worth $305,351,000 after purchasing an additional 621,863 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Best Buy by 39.5% during the 2nd quarter. AQR Capital Management LLC now owns 3,501,617 shares of the technology retailer's stock worth $235,064,000 after purchasing an additional 991,141 shares during the period. Hedge funds and other institutional investors own 80.96% of the company's stock.

Best Buy Stock Up 1.3%

Shares of NYSE BBY opened at $66.48 on Monday. The firm has a market cap of $13.90 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 1.64 and a beta of 1.46. The company's 50-day simple moving average is $66.63 and its 200-day simple moving average is $72.76. 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 Co., Inc. has a 52-week low of $54.99 and a 52-week high of $84.99.

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

Best Buy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 24th will be paid a $0.96 dividend. This is a boost 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 5.8%. The ex-dividend date of this dividend is Tuesday, March 24th. Best Buy's dividend payout ratio is presently 76.19%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group decreased their target price on shares of Best Buy from $93.00 to $76.00 and set a "buy" rating for the company in a research note on Wednesday, March 4th. DA Davidson set a $78.00 price target on shares of Best Buy in a research report on Thursday. Evercore reaffirmed a "buy" rating and issued a $75.00 price objective on shares of Best Buy in a report on Wednesday. HSBC lowered their target price on shares of Best Buy from $96.00 to $85.00 in a research note on Thursday, February 26th. Finally, Daiwa Securities Group cut their price target on Best Buy from $80.00 to $68.00 and set a "neutral" rating for the company in a research note on Thursday. Nine equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Best Buy presently has an average rating of "Hold" and a consensus price target of $76.20.

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.

Want to see what other hedge funds are holding BBY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Best Buy Co., Inc. (NYSE:BBY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.