Lecap Asset Management Ltd. Acquires 6,766 Shares of Best Buy Co., Inc. $BBY

Key Points

• Lecap Asset Management Ltd. has increased its holdings in Best Buy Co., Inc. by 74.4%, acquiring an additional 6,766 shares, bringing its total to 15,862 shares worth approximately $1,065,000.
• Best Buy reported $1.28 earnings per share (EPS) for the last quarter, surpassing analyst estimates and indicating a 1.6% increase in revenue year-over-year.
• The company is set to pay a quarterly dividend of $0.95 per share on October 9th, reflecting an annual yield of 4.9%.

Lecap Asset Management Ltd. increased its holdings in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 74.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,862 shares of the technology retailer's stock after acquiring an additional 6,766 shares during the period. Lecap Asset Management Ltd.'s holdings in Best Buy were worth $1,065,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Pinnacle Bancorp Inc. boosted its position in Best Buy by 108.5% in the 1st quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer's stock valued at $25,000 after buying an additional 178 shares during the last quarter. Oliver Lagore Vanvalin Investment Group bought a new position in Best Buy in the 2nd quarter valued at $26,000. Grove Bank & Trust boosted its position in Best Buy by 67.1% in the 1st quarter. Grove Bank & Trust now owns 431 shares of the technology retailer's stock valued at $32,000 after buying an additional 173 shares during the last quarter. Maseco LLP bought a new position in Best Buy in the 2nd quarter valued at $39,000. Finally, Wealth Preservation Advisors LLC bought a new position in Best Buy in the 1st quarter valued at $53,000. 80.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on BBY shares. Wall Street Zen upgraded Best Buy from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Telsey Advisory Group reissued an "outperform" rating and issued a $90.00 price target on shares of Best Buy in a research note on Friday, August 29th. Citigroup reissued a "buy" rating on shares of Best Buy in a research note on Thursday, August 28th. Barclays reissued an "equal weight" rating and issued a $74.00 price target on shares of Best Buy in a research note on Friday, August 29th. Finally, Evercore ISI raised their price objective on Best Buy from $75.00 to $77.00 and gave the stock an "in-line" rating in a research note on Friday, August 29th. Nine analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $81.50.

Best Buy Stock Performance

Shares of Best Buy stock opened at $77.33 on Thursday. The company has a market capitalization of $16.25 billion, a PE ratio of 21.36, a PEG ratio of 1.99 and a beta of 1.23. Best Buy Co., Inc. has a 12 month low of $54.99 and a 12 month high of $101.42. The company has a current ratio of 1.04, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43. The stock's fifty day simple moving average is $72.43 and its 200 day simple moving average is $70.06.

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

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Thursday, September 18th. Best Buy's dividend payout ratio is 104.97%.

Insider Transactions at Best Buy

In other news, Chairman Richard M. Schulze sold 196,100 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $74.00, for a total value of $14,511,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mathew Watson sold 3,715 shares of the firm's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $74.07, for a total value of $275,170.05. Following the completion of the transaction, the chief accounting officer owned 22,150 shares of the company's stock, valued at $1,640,650.50. The trade was a 14.36% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 201,833 shares of company stock valued at $14,941,472. Corporate insiders own 0.47% of the company's stock.

About Best Buy

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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