Institutional Moves in Best Buy and eBay

Recent regulatory filings show notable shifts in institutional holdings of Best Buy Co., Inc. and eBay Inc., highlighting changing views on two large U.S. consumer and e‑commerce names. The moves come alongside fresh analyst price targets and updated dividend levels at both companies.

Spire Wealth Management increased its position in Best Buy by 4,019.2% in the fourth quarter, purchasing an additional 27,411 shares to bring its total to 28,093 shares valued at $1,880,000 at quarter-end, according to its latest SEC filing.

Other institutional investors also expanded or initiated Best Buy stakes. AQR Capital Management LLC nearly doubled its holdings in the third quarter, up 99.8% to 6,997,871 shares worth $525,120,000 after adding 3,496,254 shares. Pacer Advisors Inc. boosted its position by 61.9% to 1,998,886 shares, while Jacobs Levy Equity Management Inc. grew its stake by 2,683.4% to 692,687 shares.

Additional buyers included Norges Bank, which established a new position in the second quarter, and Balyasny Asset Management L.P., which bought a new third‑quarter stake. Overall, institutional investors now own 80.96% of Best Buy’s outstanding shares.

Best Buy shares opened at $63.92 on Tuesday, with a market capitalization of about $13.37 billion. The stock trades at a price‑to‑earnings ratio of 12.68 and has a price‑to‑earnings‑growth ratio of 1.55, with a beta of 1.46. Its 12‑month trading range spans from $54.99 to $84.99.

The retailer reported quarterly earnings on March 3, posting earnings per share of $2.61, above the $2.48 consensus. Revenue was $13.81 billion, slightly below analyst expectations of $13.96 billion and down 1.0% from the prior-year period. Net margin was 2.56%, and return on equity reached 49.17%. Best Buy has issued FY 2027 earnings guidance of $6.30 to $6.60 per share, and analysts on average expect current‑year EPS of 6.18.

Best Buy recently increased its quarterly dividend to $0.96 per share, up from $0.95. The payment, scheduled for April 14 to shareholders of record on March 24, represents an annualized dividend of $3.84 and a yield of 6.0%. The dividend payout ratio stands at 76.19%.

Analysts have adjusted price targets on Best Buy amid mixed signals on performance. Truist Financial lowered its price objective from $73.00 to $66.00 with a "hold" rating. Telsey Advisory Group cut its target from $95.00 to $80.00 while maintaining an "outperform" view.

Barclays (BARC.L) reduced its price target from $81.00 to $77.00 and assigned an "equal weight" rating. Piper Sandler reaffirmed a "buy" rating, and The Goldman Sachs Group (GS) lowered its price objective from $93.00 to $76.00 but kept a "buy" recommendation. Across firms, Best Buy holds an average "Hold" rating with a mean target price of $76.20. Separately, Evercore ISI trimmed its Best Buy target to $70 from $75 and kept an "In Line" rating.

Insider transactions include the sale of 8,049 shares by EVP Kathleen Scarlett at an average price of $64.02, totaling $515,296.98, and the sale of 42,869 shares by CEO Corie S. Barry at the same average price for proceeds of $2,744,473.38. These trades reduced their positions by 7.27% and 7.57%, respectively. Over the past 90 days, insiders sold 77,247 Best Buy shares worth $4,945,353, and corporate insiders hold 0.59% of the stock.

Northstar Advisory Group LLC reduced its holdings in eBay Inc. by 28.1% in the fourth quarter, selling 16,632 shares. It held 42,497 shares valued at $3,701,000 at quarter-end, with eBay representing about 1.3% of its portfolio and ranking as its 23rd largest position.

Several other firms reported smaller positions. Financial Consulate Inc., Steigerwald Gordon & Koch Inc., JPL Wealth Management LLC, JFS Wealth Advisors LLC and Beacon Financial Strategies CORP either initiated or increased modest stakes, with JFS Wealth Advisors LLC expanding its holdings by 57.4% to 318 shares. Overall, institutional investors and hedge funds own 87.48% of eBay’s stock.

eBay shares opened at $88.01 on Tuesday, with a market capitalization of $39.43 billion. The stock’s 50‑day and 200‑day moving averages are $89.19 and $88.32, respectively. Over the past 12 months, the share price has traded between $58.71 and $101.15. eBay’s price‑to‑earnings ratio is 20.23, with a PEG ratio of 1.84 and a beta of 1.38.

In quarterly results released February 18, eBay reported earnings per share of $1.41, six cents above the $1.35 consensus. Revenue was $2.97 billion, exceeding expectations of $2.87 billion and rising 15.0% year over year. Return on equity was 43.04%, and net margin was 18.30%. eBay has issued first‑quarter 2026 earnings guidance of $1.53 to $1.59 per share, and sell‑side analysts forecast full‑year EPS of 3.86.

The company increased its quarterly dividend to $0.31 per share from $0.29. The higher dividend, paid March 20 to shareholders of record on March 6, equates to an annualized $1.24 and a yield of 1.4%. The dividend payout ratio is 28.51%.

Recent insider activity at eBay includes the sale of 16,685 shares by Senior Vice President Cornelius Boone at an average price of $92.44, totaling $1,542,361.40, reducing his holdings by 15.01% to 94,479 shares. SVP Mazen Rawashdeh sold 23,167 shares at an average of $93.59 for $2,168,199.53, cutting his stake by 44.48% to 28,915 shares.

Over the last 90 days, eBay insiders sold 87,280 shares valued at $8,067,074. Insiders own 0.64% of the company’s stock. Research coverage remains active: Daiwa Securities Group raised its target price from $84.00 to $90.00 with a "neutral" rating. Evercore lifted its target from $93.00 to $94.00.

Bank of America (BAC) increased its price objective from $100.00 to $102.00 and kept a "neutral" stance, while Wall Street Zen upgraded eBay from "hold" to "buy." Weiss Ratings reiterated a "buy (b)" view. Overall, 14 analysts rate eBay a Buy, 19 rate it Hold and one assigns a Sell, resulting in an average "Hold" rating and a consensus target price of $97.97.