Caxton Associates LLP Purchases Shares of 30,100 Best Buy Co., Inc. $BBY

Caxton Associates LLP acquired a new position in shares of Best Buy Co., Inc. (NYSE:BBY) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,100 shares of the technology retailer’s stock, valued at approximately $1,932,000.

Other institutional investors have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC boosted its position in shares of Best Buy by 100.6% during the fourth quarter. Concurrent Investment Advisors LLC now owns 70,280 shares of the technology retailer’s stock worth $4,704,000 after buying an additional 35,239 shares during the period. PFA Pension Forsikringsaktieselskab acquired a new stake in Best Buy in the 4th quarter valued at approximately $1,741,000. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in Best Buy by 42.9% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 225,000 shares of the technology retailer’s stock valued at $15,059,000 after acquiring an additional 67,600 shares in the last quarter. Oxbow Advisors LLC acquired a new position in Best Buy during the 4th quarter worth approximately $6,295,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Best Buy by 8.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 478,965 shares of the technology retailer’s stock worth $33,180,000 after acquiring an additional 38,739 shares in the last quarter. 80.96% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Best Buy news, CAO Mathew Watson sold 1,784 shares of the company’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $73.80, for a total value of $131,659.20. Following the transaction, the chief accounting officer directly owned 21,630 shares in the company, valued at $1,596,294. The trade was a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Richard M. Schulze sold 224,705 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $78.10, for a total transaction of $17,549,460.50. Following the completion of the transaction, the chairman directly owned 10,430,936 shares in the company, valued at $814,656,101.60. The trade was a 2.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 1,002,134 shares of company stock worth $77,283,527. 0.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BBY. DA Davidson reissued a “buy” rating and issued a $90.00 price objective on shares of Best Buy in a research report on Monday, June 22nd. The Goldman Sachs Group boosted their price target on shares of Best Buy from $59.00 to $62.00 and gave the stock a “sell” rating in a research report on Friday, May 29th. Citigroup raised their price objective on Best Buy from $60.00 to $79.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Daiwa Securities Group upped their target price on Best Buy from $68.00 to $77.00 and gave the stock a “neutral” rating in a report on Tuesday, June 2nd. Finally, Telsey Advisory Group set a $90.00 price target on Best Buy and gave the company an “outperform” rating in a research note on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Best Buy currently has an average rating of “Hold” and an average target price of $79.50.

Best Buy Trading Up 1.0%

Best Buy stock opened at $85.26 on Friday. Best Buy Co., Inc. has a 52 week low of $55.10 and a 52 week high of $87.35. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 1.12. The stock has a market capitalization of $17.97 billion, a P/E ratio of 15.79, a PEG ratio of 2.27 and a beta of 1.30. The stock has a 50-day simple moving average of $75.59 and a 200 day simple moving average of $68.19.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.05. The firm had revenue of $8.94 billion for the quarter, compared to the consensus estimate of $8.82 billion. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.The business’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.15 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Analysts expect that Best Buy Co., Inc. will post 6.56 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Thursday, June 18th were issued a dividend of $0.96 per share. The ex-dividend date of this dividend was Thursday, June 18th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.5%. Best Buy’s payout ratio is presently 71.11%.

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.