Lbp Am Sa Has $11.25 Million Stock Position in Best Buy Co., Inc. $BBY

Key Points

• Lbp Am Sa increased its stake in Best Buy by 26.9% in Q4 to 168,074 shares, a position worth about $11.25 million.
• Best Buy beat quarterly EPS estimates ($2.61 vs. $2.48) despite slightly lower revenue, set FY2027 guidance of 6.30–6.60 EPS, and raised its quarterly dividend to $0.96 (a 5.9% yield).
• CEO Corie S. Barry and other insiders sold shares (the CEO sold 42,869 shares) even as institutional ownership remains high at 80.96% and analysts' consensus is a "Hold" with an average target of $74.85.

Lbp Am Sa lifted its position in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 26.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 168,074 shares of the technology retailer's stock after purchasing an additional 35,654 shares during the quarter. Lbp Am Sa owned approximately 0.08% of Best Buy worth $11,249,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. AQR Capital Management LLC raised its stake in shares of Best Buy by 99.8% in 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 purchasing an additional 3,496,254 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Best Buy by 61.9% during the third quarter. Pacer Advisors Inc. now owns 1,998,886 shares of the technology retailer's stock worth $151,156,000 after buying an additional 764,064 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in Best Buy during the third quarter worth $55,475,000. Jacobs Levy Equity Management Inc. increased its holdings in Best Buy by 2,683.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 692,687 shares of the technology retailer's stock valued at $52,381,000 after buying an additional 667,801 shares during the period. Finally, Worldquant Millennium Advisors LLC increased its holdings in Best Buy by 855.5% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 686,644 shares of the technology retailer's stock valued at $46,094,000 after buying an additional 614,779 shares during the period. 80.96% of the stock is currently owned by institutional investors.

Best Buy Stock Up 2.0%

BBY opened at $64.68 on Friday. The firm has a market cap of $13.53 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 1.56 and a beta of 1.35. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.43 and a current ratio of 1.11. The firm's 50-day simple moving average is $64.24 and its 200-day simple moving average is $70.51. Best Buy Co., Inc. has a twelve month low of $59.77 and a twelve month high of $84.99.

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

Best Buy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 24th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend was Tuesday, March 24th. This is an increase from Best Buy's previous quarterly dividend of $0.95. Best Buy's dividend payout ratio (DPR) is presently 76.19%.

Insider Buying and Selling at Best Buy

In other Best Buy news, CEO Corie S. Barry sold 42,869 shares of Best Buy stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $64.02, for a total value of $2,744,473.38. Following the completion of the transaction, the chief executive officer owned 523,138 shares in the company, valued at approximately $33,491,294.76. The trade was a 7.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jason J. Bonfig sold 6,336 shares of the business's stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $64.02, for a total value of $405,630.72. Following the completion of the transaction, the executive vice president directly owned 79,137 shares in the company, valued at approximately $5,066,350.74. This represents a 7.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 77,247 shares of company stock worth $4,945,353 over the last 90 days. Company insiders own 0.47% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on BBY. Wall Street Zen downgraded shares of Best Buy from a "buy" rating to a "hold" rating in a report on Saturday, January 10th. Wedbush lowered their target price on shares of Best Buy from $80.00 to $70.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 24th. Evercore set a $65.00 price target on shares of Best Buy in a research report on Tuesday. BNP Paribas Exane raised their price target on shares of Best Buy from $68.00 to $74.00 and gave the stock a "neutral" rating in a research note on Wednesday, March 4th. Finally, Piper Sandler reaffirmed a "buy" rating on shares of Best Buy in a report on Wednesday, March 4th. Eight research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $74.85.

Best Buy 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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