Best Buy Co., Inc. $BBY Stock Acquired by Machina Capital S.A.S.

Machina Capital S.A.S. increased its position in Best Buy Co., Inc. (NYSE:BBY) by 574.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 20,491 shares of the technology retailer’s stock after acquiring an additional 17,454 shares during the period. Machina Capital S.A.S.’s holdings in Best Buy were worth $1,679,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Kintegral Advisory LLC lifted its stake in Best Buy by 0.6% in the third quarter. Kintegral Advisory LLC now owns 23,543 shares of the technology retailer’s stock valued at $2,100,000 after acquiring an additional 133 shares during the last quarter. Tema ETFs LLC increased its stake in shares of Best Buy by 6.5% during the 2nd quarter. Tema ETFs LLC now owns 2,365 shares of the technology retailer’s stock worth $179,000 after purchasing an additional 145 shares during the last quarter. Probity Advisors Inc. increased its stake in shares of Best Buy by 3.3% during the 3rd quarter. Probity Advisors Inc. now owns 4,657 shares of the technology retailer’s stock worth $411,000 after purchasing an additional 149 shares during the last quarter. B. Metzler seel. Sohn & Co. AG increased its stake in shares of Best Buy by 1.0% during the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 14,613 shares of the technology retailer’s stock worth $1,109,000 after purchasing an additional 151 shares during the last quarter. Finally, Ashurst Perkins Coie Trust Co raised its holdings in shares of Best Buy by 75.1% during the 3rd quarter. Ashurst Perkins Coie Trust Co now owns 394 shares of the technology retailer’s stock valued at $35,000 after purchasing an additional 169 shares in the last quarter. Institutional investors own 80.96% of the company’s stock.

Insider Activity

In other news, EVP Kathleen Scarlett sold 116,062 shares of Best Buy stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $92.15, for a total value of $10,695,113.30. Following the transaction, the executive vice president directly owned 116,173 shares in the company, valued at approximately $10,705,341.95. The trade was a 49.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Richard Schulze sold 300,000 shares of Best Buy stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $92.51, for a total value of $27,753,000.00. The disclosure for this sale is available in the SEC filing. Company insiders own 0.50% of the company’s stock.

Best Buy Price Performance

Shares of Best Buy stock opened at $103.44 on Friday. The company has a current ratio of 1.12, a quick ratio of 0.41 and a debt-to-equity ratio of 0.36. The firm has a fifty day simple moving average of $93.30 and a 200-day simple moving average of $76.86. The stock has a market capitalization of $21.69 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 2.63 and a beta of 1.20. Best Buy Co., Inc. has a 1-year low of $55.10 and a 1-year high of $106.83.

Best Buy (NYSE:BBY) last posted its earnings results on Thursday, August 27th. The technology retailer reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.08. The business had revenue of $9.78 billion for the quarter, compared to analyst estimates of $9.59 billion. Best Buy had a net margin of 3.01% and a return on equity of 48.14%. Best Buy’s revenue was up 3.6% compared to the same quarter last year. During the same period last year, the business posted $1.28 EPS. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. On average, sell-side analysts expect that Best Buy Co., Inc. will post 6.81 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th were given a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Thursday, September 17th. Best Buy’s dividend payout ratio (DPR) is currently 63.89%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Truist Financial set a $100.00 price objective on shares of Best Buy in a research note on Thursday, August 27th. Bank of America initiated coverage on shares of Best Buy in a report on Monday, August 3rd. They issued an “underperform” rating and a $80.00 price objective for the company. UBS Group reissued a “neutral” rating and set a $90.00 target price (up from $86.00) on shares of Best Buy in a research report on Friday, August 28th. Guggenheim raised their target price on Best Buy from $90.00 to $95.00 and gave the company a “buy” rating in a report on Friday, August 28th. Finally, Citigroup boosted their price target on Best Buy from $88.00 to $102.00 and gave the stock a “neutral” rating in a research report on Friday, November 6th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Best Buy has a consensus rating of “Hold” and a consensus target price of $87.33.

Best Buy Profile

Best Buy is a retailer of consumer technology products and services. Its offerings include computers and mobile devices, televisions and home theater equipment, major appliances, and related accessories, sold through stores and digital channels. The company also provides technology support and installation services through Geek Squad, including help with device setup, repairs, and home technology systems. Best Buy serves customers in the United States and Canada. Founded in 1966 as Sound of Music, the company adopted the Best Buy name in 1983.