Trexquant Investment LP Invests $2.76 Million in Best Buy Co., Inc. $BBY

Key Points

• Trexquant Investment LP has made a new investment in Best Buy Co., Inc. by purchasing 37,449 shares valued at approximately $2.76 million during the first quarter.
• Best Buy's recent earnings report showed a net revenue of $9.44 billion for the quarter, exceeding forecasts and marking a 1.6% year-over-year increase, alongside an EPS of $1.28 that beat estimates.
• The company also announced a quarterly dividend of $0.95, which equates to an annualized dividend of $3.80 and a yield of 5.1%, despite having a high dividend payout ratio of 104.97%.

Trexquant Investment LP acquired a new stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 37,449 shares of the technology retailer's stock, valued at approximately $2,757,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. grew its position in Best Buy by 6.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,968,973 shares of the technology retailer's stock valued at $512,986,000 after acquiring an additional 408,605 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Best Buy by 6.4% in the 1st quarter. Invesco Ltd. now owns 3,926,787 shares of the technology retailer's stock valued at $289,051,000 after purchasing an additional 234,669 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Best Buy by 3.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,263,142 shares of the technology retailer's stock worth $240,173,000 after purchasing an additional 105,710 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Best Buy by 9.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,605,902 shares of the technology retailer's stock valued at $223,586,000 after acquiring an additional 215,265 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in Best Buy by 3.3% during the first quarter. Federated Hermes Inc. now owns 1,665,228 shares of the technology retailer's stock worth $122,577,000 after acquiring an additional 52,550 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on BBY shares. UBS Group cut their price target on Best Buy from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Citigroup reaffirmed a "buy" rating on shares of Best Buy in a report on Thursday, August 28th. Guggenheim reaffirmed a "buy" rating and issued a $90.00 target price on shares of Best Buy in a report on Friday, August 29th. Wells Fargo & Company raised their target price on shares of Best Buy from $67.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Finally, Bank of America cut their target price on shares of Best Buy from $63.00 to $60.00 and set an "underperform" rating on the stock in a research note on Friday, August 29th. Nine equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $82.59.

Best Buy Stock Up 1.6%

Shares of NYSE BBY traded up $1.24 during midday trading on Monday, reaching $77.41. The company's stock had a trading volume of 1,740,851 shares, compared to its average volume of 3,662,174. The stock has a market capitalization of $16.36 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 2.00 and a beta of 1.19. Best Buy Co., Inc. has a fifty-two week low of $54.99 and a fifty-two week high of $103.48. The stock has a 50 day simple moving average of $70.54 and a 200-day simple moving average of $70.67. The company has a current ratio of 1.04, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43.

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

Best Buy Announces Dividend

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

Insider Activity at Best Buy

In related news, Chairman Richard M. Schulze sold 196,100 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $74.00, for a total transaction of $14,511,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Mathew Watson sold 2,018 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $76.76, for a total value of $154,901.68. Following the completion of the transaction, the chief accounting officer owned 20,132 shares of the company's stock, valued at approximately $1,545,332.32. This trade represents a 9.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold 201,833 shares of company stock valued at $14,941,472 in the last quarter. Corporate insiders own 0.59% of the company's stock.

Best Buy Profile

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.