Lecap Asset Management Ltd. Increases Position in Best Buy Co., Inc. $BBY

Lecap Asset Management Ltd. lifted its stake in Best Buy Co., Inc. (NYSE:BBY) by 90.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,284 shares of the technology retailer’s stock after purchasing an additional 14,422 shares during the period. Best Buy makes up 0.8% of Lecap Asset Management Ltd.’s investment portfolio, making the stock its 25th largest holding. Lecap Asset Management Ltd.’s holdings in Best Buy were worth $2,290,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HB Wealth Management LLC lifted its position in shares of Best Buy by 13.2% during the 3rd quarter. HB Wealth Management LLC now owns 7,268 shares of the technology retailer’s stock valued at $550,000 after acquiring an additional 847 shares during the period. CX Institutional increased its stake in Best Buy by 7.5% in the 3rd quarter. CX Institutional now owns 7,293 shares of the technology retailer’s stock valued at $551,000 after purchasing an additional 511 shares in the last quarter. Park Avenue Securities LLC increased its stake in Best Buy by 17.1% in the 3rd quarter. Park Avenue Securities LLC now owns 13,025 shares of the technology retailer’s stock valued at $985,000 after purchasing an additional 1,903 shares in the last quarter. Cerity Partners LLC raised its holdings in Best Buy by 63.3% during the third quarter. Cerity Partners LLC now owns 299,093 shares of the technology retailer’s stock worth $22,617,000 after purchasing an additional 115,978 shares during the last quarter. Finally, Gries Financial LLC purchased a new stake in Best Buy during the third quarter worth $219,000. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Best Buy Trading Down 4.5%

Shares of BBY opened at $68.90 on Thursday. Best Buy Co., Inc. has a fifty-two week low of $54.99 and a fifty-two week high of $91.68. The stock has a fifty day moving average of $74.48 and a two-hundred day moving average of $73.60. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.26 and a current ratio of 1.05. The company has a market capitalization of $14.44 billion, a PE ratio of 22.81, a price-to-earnings-growth ratio of 1.83 and a beta of 1.41.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Tuesday, November 25th. The technology retailer reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.The business had revenue of $9.67 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the previous year, the business earned $1.26 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. As a group, analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th were given a $0.95 dividend. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $3.80 annualized dividend and a dividend yield of 5.5%. Best Buy’s dividend payout ratio (DPR) is currently 125.83%.

Analyst Upgrades and Downgrades

BBY has been the subject of a number of research analyst reports. UBS Group raised their price target on Best Buy from $93.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Weiss Ratings restated a “hold (c)” rating on shares of Best Buy in a research report on Wednesday, October 8th. The Goldman Sachs Group lowered their price target on shares of Best Buy from $95.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, November 26th. Morgan Stanley lifted their price objective on Best Buy from $75.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 26th. Finally, Evercore ISI lowered their target price on Best Buy from $85.00 to $80.00 and set an “in-line” rating on the stock in a report on Tuesday, December 9th. Ten research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Best Buy presently has a consensus rating of “Hold” and an average target price of $83.89.

Insider Transactions at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 74,553 shares of the stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $84.31, for a total transaction of $6,285,563.43. Following the transaction, the chairman owned 11,451,911 shares of the company’s stock, valued at $965,510,616.41. This trade represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 1,534,993 shares of company stock valued at $126,626,855 in the last ninety days. 0.47% of the stock is currently owned by insiders.

About Best Buy

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.