Jefferies Financial Group Inc. Makes New Investment in Best Buy Co., Inc. $BBY

Jefferies Financial Group Inc. bought a new stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 161,563 shares of the technology retailer's stock, valued at approximately $12,259,000. Jefferies Financial Group Inc. owned about 0.08% of Best Buy at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of BBY. Palisade Asset Management LLC acquired a new position in shares of Best Buy in the 3rd quarter valued at about $25,000. MV Capital Management Inc. acquired a new stake in Best Buy during the fourth quarter worth about $25,000. Torren Management LLC acquired a new stake in Best Buy during the fourth quarter worth about $25,000. Hillsdale Investment Management Inc. bought a new position in Best Buy in the fourth quarter worth about $29,000. Finally, Activest Wealth Management lifted its holdings in Best Buy by 1,247.1% in the fourth quarter. Activest Wealth Management now owns 458 shares of the technology retailer's stock worth $31,000 after acquiring an additional 424 shares during the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Best Buy

Here are the key news stories impacting Best Buy this week:

• Positive Sentiment: Quarterly results exceeded expectations: Adjusted EPS was $1.47 versus the $1.39 consensus estimate, while revenue rose 3.6% year over year to $9.78 billion, ahead of the $9.59 billion forecast. Best Buy Reports Second Quarter Results
• Positive Sentiment: Comparable sales showed momentum: Enterprise comparable sales increased 4.1%, above guidance, led by a 4.5% gain in the domestic business. Strength in computing and demand for AI-related products, including AI glasses, supported the improvement. Best Buy tops quarterly estimates, raises outlook as computing shows strength
• Positive Sentiment: Best Buy raised its fiscal 2027 outlook: Adjusted EPS guidance increased to $6.70-$6.90 from $6.30-$6.60, and revenue guidance was lifted to $42.3-$42.8 billion, above the roughly $42.1 billion analyst consensus. Best Buy raises annual sales forecast on steady electronics demand
• Positive Sentiment: Omnichannel initiatives could support longer-term growth: The retailer is rolling out its “Ask Blue” conversational AI assistant, expanding smaller-format stores and broadening online and in-store customer engagement. Best Buy Expands Omnichannel Footprint With OpenAI Integration and Smaller-Format Stores
• Neutral Sentiment: Management cited resilient technology-upgrade and replacement demand despite cautious consumer spending. The company is also preparing for incoming CEO Jason Bonfig, creating a potential transition factor for investors. Best Buy Raises Outlook as Sales Grow
• Negative Sentiment: Shares fell despite the earnings beat: The market reaction suggests investors may have expected an even stronger outlook or were locking in gains following BBY’s substantial run toward its 52-week high. Concerns about cautious consumers and the sustainability of discretionary electronics demand remain overhangs. Why Best Buy Stock Fell Despite Strong Q2 Earnings Beat

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Truist Financial set a $100.00 target price on Best Buy in a report on Thursday. Daiwa Securities Group boosted their price objective on Best Buy from $68.00 to $77.00 and gave the company a "neutral" rating in a research report on Tuesday, June 2nd. DA Davidson restated a "buy" rating and set a $90.00 price objective on shares of Best Buy in a research note on Monday, June 22nd. Piper Sandler increased their target price on Best Buy from $77.00 to $85.00 and gave the stock a "neutral" rating in a research report on Thursday, August 20th. Finally, Guggenheim reiterated a "buy" rating and issued a $90.00 target price on shares of Best Buy in a research note on Friday, May 29th. Seven equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $83.35.

Insider Activity at Best Buy

In related news, Chairman Richard M. Schulze sold 224,705 shares of the business's stock in a transaction that occurred 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 transaction, the chairman directly owned 10,430,936 shares of the company's stock, valued at approximately $814,656,101.60. The trade was a 2.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 500,000 shares of company stock worth $39,065,226 in the last ninety days. Company insiders own 0.50% of the company's stock.

Best Buy Price Performance

NYSE:BBY opened at $83.77 on Friday. The company has a quick ratio of 0.40, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. The business's 50-day moving average price is $83.01 and its 200 day moving average price is $71.26. Best Buy Co., Inc. has a 52-week low of $55.10 and a 52-week high of $91.26. The firm has a market cap of $17.66 billion, a P/E ratio of 15.51, a PEG ratio of 2.50 and a beta of 1.29.

Best Buy (NYSE:BBY - Get Free Report) last announced its earnings results on Thursday, August 27th. The technology retailer reported $1.47 EPS for the quarter, beating the consensus estimate of $1.39 by $0.08. The business had revenue of $9.78 billion during the quarter, compared to the consensus estimate of $9.59 billion. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.Best Buy's revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.28 earnings per share. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. As a group, sell-side analysts predict that Best Buy Co., Inc. will post 6.6 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th will be given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Thursday, September 17th. Best Buy's dividend payout ratio is 71.11%.

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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