Jefferies Financial Group Inc. Acquires New Shares in Best Buy Co., Inc. $BBY

Jefferies Financial Group Inc. bought a new stake in Best Buy Co., Inc. (NYSE:BBY) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 161,563 shares of the technology retailer’s stock, valued at approximately $12,259,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Best Buy during the 2nd quarter valued at about $1,932,812,000. AQR Capital Management LLC increased its holdings in Best Buy by 99.8% in the third quarter. AQR Capital Management LLC now owns 6,997,871 shares of the technology retailer’s stock worth $525,120,000 after buying an additional 3,496,254 shares during the last quarter. Norges Bank acquired a new position in Best Buy in the fourth quarter worth approximately $174,685,000. Schroder Investment Management Group raised its position in Best Buy by 378.8% during the fourth quarter. Schroder Investment Management Group now owns 3,096,015 shares of the technology retailer’s stock valued at $207,216,000 after acquiring an additional 2,449,342 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Best Buy in the second quarter valued at approximately $174,893,000. 80.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Best Buy news, Chairman Richard M. Schulze sold 224,705 shares of the company’s 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 sale, the chairman directly owned 10,430,936 shares of the company’s stock, valued at approximately $814,656,101.60. This represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 500,000 shares of company stock valued at $39,065,226 in the last quarter. 0.50% of the stock is owned by insiders.

Best Buy Stock Down 4.2%

BBY opened at $83.77 on Friday. The business has a 50 day moving average of $83.01 and a 200-day moving average of $71.26. The stock has a market capitalization of $17.66 billion, a price-to-earnings ratio of 15.51, a P/E/G ratio of 2.50 and a beta of 1.29. The company has a current ratio of 1.12, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. Best Buy Co., Inc. has a 1-year low of $55.10 and a 1-year high of $91.26.

Best Buy (NYSE:BBY) last announced its earnings results on Thursday, August 27th. The technology retailer reported $1.47 earnings per share (EPS) for the quarter, topping 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 2.73% and a return on equity of 48.70%. Best Buy’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.28 earnings per share. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. As a group, sell-side analysts anticipate that Best Buy Co., Inc. will post 6.6 earnings per share for the current year.

Best Buy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Thursday, September 17th will be paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Thursday, September 17th. Best Buy’s dividend payout ratio (DPR) is presently 71.11%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. KeyCorp reissued a “sector weight” rating on shares of Best Buy in a research report on Monday, June 22nd. Bank of America began coverage on shares of Best Buy in a report on Monday, August 3rd. They set an “underperform” rating and a $80.00 price target on the stock. Wedbush reaffirmed a “buy” rating on shares of Best Buy in a research note on Monday. Jefferies Financial Group cut shares of Best Buy from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $89.00 to $85.00 in a report on Wednesday, August 5th. Finally, UBS Group reissued a “neutral” rating and set a $86.00 target price (up from $85.00) on shares of Best Buy in a research report on Friday, May 29th. Seven investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Best Buy currently has an average rating of “Hold” and an average target price of $83.35.

More Best Buy News

Here are the key news stories impacting Best Buy this week:

• Positive Sentiment: Quarterly results exceeded expectations: Adjusted EPS was $1.47 versus the $1.39 consensus estimate, while revenue rose 3.6% year over year to $9.78 billion, ahead of the $9.59 billion forecast. Best Buy Reports Second Quarter Results
• Positive Sentiment: Comparable sales showed momentum: Enterprise comparable sales increased 4.1%, above guidance, led by a 4.5% gain in the domestic business. Strength in computing and demand for AI-related products, including AI glasses, supported the improvement. Best Buy tops quarterly estimates, raises outlook as computing shows strength
• Positive Sentiment: Best Buy raised its fiscal 2027 outlook: Adjusted EPS guidance increased to $6.70-$6.90 from $6.30-$6.60, and revenue guidance was lifted to $42.3-$42.8 billion, above the roughly $42.1 billion analyst consensus. Best Buy raises annual sales forecast on steady electronics demand
• Positive Sentiment: Omnichannel initiatives could support longer-term growth: The retailer is rolling out its “Ask Blue” conversational AI assistant, expanding smaller-format stores and broadening online and in-store customer engagement. Best Buy Expands Omnichannel Footprint With OpenAI Integration and Smaller-Format Stores
• Neutral Sentiment: Management cited resilient technology-upgrade and replacement demand despite cautious consumer spending. The company is also preparing for incoming CEO Jason Bonfig, creating a potential transition factor for investors. Best Buy Raises Outlook as Sales Grow
• Negative Sentiment: Shares fell despite the earnings beat: The market reaction suggests investors may have expected an even stronger outlook or were locking in gains following BBY’s substantial run toward its 52-week high. Concerns about cautious consumers and the sustainability of discretionary electronics demand remain overhangs. Why Best Buy Stock Fell Despite Strong Q2 Earnings Beat

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.