Jacobs Levy Equity Management Inc. Acquires Shares of 24,886 Best Buy Co., Inc. $BBY

Jacobs Levy Equity Management Inc. acquired a new stake in Best Buy Co., Inc. (NYSE:BBY) during the 1st quarter, Holdings Channel reports. The institutional investor acquired 24,886 shares of the technology retailer’s stock, valued at approximately $1,832,000.

Other hedge funds also recently bought and sold shares of the company. Pinnacle Bancorp Inc. lifted its holdings in shares of Best Buy by 108.5% in the 1st quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer’s stock worth $25,000 after buying an additional 178 shares during the period. Vermillion Wealth Management Inc. purchased a new stake in shares of Best Buy in the 4th quarter worth $31,000. Grove Bank & Trust lifted its holdings in shares of Best Buy by 67.1% in the 1st quarter. Grove Bank & Trust now owns 431 shares of the technology retailer’s stock worth $32,000 after buying an additional 173 shares during the period. LRI Investments LLC lifted its holdings in shares of Best Buy by 36.3% in the 4th quarter. LRI Investments LLC now owns 529 shares of the technology retailer’s stock worth $45,000 after buying an additional 141 shares during the period. Finally, Tompkins Financial Corp purchased a new stake in shares of Best Buy in the 1st quarter worth $48,000. Institutional investors own 80.96% of the company’s stock.

Insider Activity

In related news, Chairman Richard M. Schulze sold 196,100 shares of the company’s stock in a transaction dated 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 document filed with the SEC, which can be accessed through this link. Also, CAO Mathew Watson sold 3,715 shares of the company’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $74.07, for a total value of $275,170.05. Following the transaction, the chief accounting officer directly owned 22,150 shares in the company, valued at $1,640,650.50. This represents a 14.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 201,833 shares of company stock worth $14,941,472 over the last ninety days. 0.47% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on BBY. JPMorgan Chase & Co. upped their target price on Best Buy from $88.00 to $89.00 and gave the stock an “overweight” rating in a report on Friday, August 29th. Loop Capital lowered their target price on Best Buy from $90.00 to $80.00 and set a “buy” rating for the company in a report on Friday, May 30th. Barclays reiterated an “equal weight” rating and issued a $74.00 target price on shares of Best Buy in a report on Friday, August 29th. Bank of America decreased their price objective on Best Buy from $63.00 to $60.00 and set an “underperform” rating for the company in a research note on Friday, August 29th. Finally, Guggenheim restated a “buy” rating and set a $90.00 price objective on shares of Best Buy in a research note on Friday, August 29th. Nine research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $82.59.

Best Buy Trading Down 0.5%

Shares of NYSE BBY opened at $76.66 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.04 and a quick ratio of 0.36. The stock has a market capitalization of $16.11 billion, a P/E ratio of 21.18, a price-to-earnings-growth ratio of 2.03 and a beta of 1.19. Best Buy Co., Inc. has a 1-year low of $54.99 and a 1-year high of $103.48. The business has a fifty day moving average price of $70.98 and a 200 day moving average price of $70.68.

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

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 18th will be given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Thursday, September 18th. Best Buy’s dividend payout ratio is currently 104.97%.

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.