StoneX Group Inc. Acquires 6,304 Shares of Best Buy Co., Inc. $BBY

StoneX Group Inc. acquired a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,304 shares of the technology retailer’s stock, valued at approximately $556,000.

Several other institutional investors have also modified their holdings of the stock. Kintegral Advisory LLC lifted its stake in Best Buy by 0.6% in the 3rd quarter. Kintegral Advisory LLC now owns 23,543 shares of the technology retailer’s stock valued at $2,100,000 after buying an additional 133 shares in the last quarter. Tema ETFs LLC increased its stake in 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 buying an additional 145 shares in the last quarter. Probity Advisors Inc. increased its stake in 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 buying an additional 149 shares in the last quarter. B. Metzler seel. Sohn & Co. AG increased its stake in 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 buying an additional 151 shares in the last quarter. Finally, Ashurst Perkins Coie Trust Co raised its holdings in shares of Best Buy by 75.1% during the third quarter. Ashurst Perkins Coie Trust Co now owns 394 shares of the technology retailer’s stock valued at $35,000 after acquiring an additional 169 shares during the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Insider Activity at Best Buy

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

Best Buy Stock Up 1.0%

Shares of NYSE BBY opened at $105.15 on Thursday. The stock has a market cap of $22.05 billion, a PE ratio of 17.50, a P/E/G ratio of 2.60 and a beta of 1.20. The company has a current ratio of 1.12, a quick ratio of 0.41 and a debt-to-equity ratio of 0.36. Best Buy Co., Inc. has a 12-month low of $55.10 and a 12-month high of $106.83. The company has a 50-day moving average of $92.98 and a 200 day moving average of $76.68.

Best Buy (NYSE:BBY) last released its earnings results on Thursday, August 27th. The technology retailer reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.08. Best Buy had a net margin of 3.01% and a return on equity of 48.14%. The business had revenue of $9.78 billion for the quarter, compared to analyst estimates of $9.59 billion. During the same period last year, the company posted $1.28 EPS. The business’s revenue was up 3.6% on a year-over-year basis. 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 6.81 EPS for the current fiscal year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Thursday, September 17th were issued 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%.

Analysts Set New Price Targets

Several research firms have recently weighed in on BBY. UBS Group restated a “neutral” rating and issued a $90.00 target price (up from $86.00) on shares of Best Buy in a research report on Friday, August 28th. Piper Sandler boosted their price target on Best Buy from $77.00 to $85.00 and gave the stock a “neutral” rating in a research report on Thursday, August 20th. Wedbush reissued a “buy” rating on shares of Best Buy in a research note on Monday, August 24th. Guggenheim raised their price objective on Best Buy from $90.00 to $95.00 and gave the company a “buy” rating in a report on Friday, August 28th. Finally, Jefferies Financial Group lowered Best Buy from a “buy” rating to a “hold” rating and decreased their price objective for the company from $89.00 to $85.00 in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $87.35.

About Best Buy

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.