Caprock Group LLC Invests $647,000 in Best Buy Co., Inc. $BBY

Caprock Group LLC acquired a new stake in Best Buy Co., Inc. (NYSE:BBY) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,779 shares of the technology retailer’s stock, valued at approximately $647,000.

Other large investors have also bought and sold shares of the company. Sage Private Wealth Group LLC lifted its position in shares of Best Buy by 3.1% during the 3rd quarter. Sage Private Wealth Group LLC now owns 4,109 shares of the technology retailer’s stock valued at $311,000 after buying an additional 123 shares during the last quarter. LVW Advisors LLC lifted its holdings in Best Buy by 3.9% during the third quarter. LVW Advisors LLC now owns 3,633 shares of the technology retailer’s stock valued at $275,000 after purchasing an additional 137 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in Best Buy by 69.3% during the third quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock worth $25,000 after purchasing an additional 138 shares during the period. Panagora Asset Management Inc. increased its stake in shares of Best Buy by 1.5% in the second quarter. Panagora Asset Management Inc. now owns 9,513 shares of the technology retailer’s stock worth $639,000 after purchasing an additional 144 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Best Buy by 2.1% in the third quarter. GAMMA Investing LLC now owns 7,220 shares of the technology retailer’s stock valued at $546,000 after purchasing an additional 150 shares during the period. 80.96% of the stock is owned by hedge funds and other institutional investors.

Best Buy Stock Up 1.4%

Shares of NYSE:BBY opened at $65.80 on Tuesday. The stock’s 50-day moving average is $68.70 and its 200 day moving average is $73.27. The company has a market cap of $13.79 billion, a PE ratio of 21.79, a P/E/G ratio of 1.57 and a beta of 1.44. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.26. Best Buy Co., Inc. has a 1 year low of $54.99 and a 1 year high of $91.68.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share 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 quarter in the previous year, the business posted $1.26 earnings per share. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. Sell-side analysts anticipate 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. Shareholders of record on Tuesday, December 16th were paid a dividend of $0.95 per share. The ex-dividend date was Tuesday, December 16th. This represents a $3.80 annualized dividend and a yield of 5.8%. Best Buy’s dividend payout ratio is currently 125.83%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Loop Capital raised their price objective on shares of Best Buy from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, November 25th. Telsey Advisory Group raised their price target on Best Buy from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, November 26th. UBS Group boosted their price objective on Best Buy from $93.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Piper Sandler raised their target price on Best Buy from $75.00 to $76.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. Finally, JPMorgan Chase & Co. lowered Best Buy from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $99.00 to $76.00 in a report on Monday, February 2nd. Eight 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’s stock. Based on data from MarketBeat, Best Buy presently has an average rating of “Hold” and an average price target of $80.05.

Best Buy Company Profile

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.