Machina Capital S.A.S. Takes $910,000 Position in Best Buy Co., Inc. $BBY

Machina Capital S.A.S. acquired a new position in Best Buy Co., Inc. (NYSE:BBY) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 12,028 shares of the technology retailer’s stock, valued at approximately $910,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Best Buy in the second quarter worth approximately $171,851,000. AQR Capital Management LLC grew its holdings in shares of Best Buy by 39.5% in the 2nd quarter. AQR Capital Management LLC now owns 3,501,617 shares of the technology retailer’s stock worth $235,064,000 after acquiring an additional 991,141 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Best Buy by 61.9% during the third quarter. Pacer Advisors Inc. now owns 1,998,886 shares of the technology retailer’s stock worth $151,156,000 after purchasing an additional 764,064 shares during the period. Invesco Ltd. lifted its holdings in shares of Best Buy by 15.8% during the second quarter. Invesco Ltd. now owns 4,548,650 shares of the technology retailer’s stock valued at $305,351,000 after purchasing an additional 621,863 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its holdings in shares of Best Buy by 855.5% during the second quarter. Worldquant Millennium Advisors LLC now owns 686,644 shares of the technology retailer’s stock valued at $46,094,000 after purchasing an additional 614,779 shares during the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Telsey Advisory Group boosted their price objective on Best Buy from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, November 26th. Barclays dropped their target price on shares of Best Buy from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 8th. UBS Group upped their price target on shares of Best Buy from $93.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. The Goldman Sachs Group decreased their price objective on shares of Best Buy from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, November 26th. Finally, Truist Financial cut their target price on shares of Best Buy from $77.00 to $73.00 and set a “hold” rating on the stock in a research note on Friday, January 16th. Eight research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $81.63.

Best Buy Stock Up 4.5%

Best Buy stock opened at $68.52 on Thursday. Best Buy Co., Inc. has a twelve month low of $54.99 and a twelve month high of $91.68. 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 firm has a market cap of $14.36 billion, a PE ratio of 22.69, a P/E/G ratio of 1.55 and a beta of 1.44. The firm’s 50 day moving average price is $70.11 and its two-hundred day moving average price is $73.21.

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

Best Buy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th were paid a dividend of $0.95 per share. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.5%. Best Buy’s dividend payout ratio (DPR) is 125.83%.

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.