48,383 Shares in Best Buy Co., Inc. $BBY Purchased by D.A. Davidson & CO.

Key Points

• D.A. Davidson & Co. bought a new stake in Best Buy during the first quarter, purchasing 48,383 shares valued at about $3.1 million.
• Best Buy’s latest quarterly results beat expectations, with EPS of $1.28 versus $1.23 expected and revenue of $8.94 billion, up 1.9% year over year.
• The company recently paid a $0.96 quarterly dividend and now offers a 4.5% yield, while Wall Street’s consensus rating remains Hold with an average price target of $79.50.

D.A. Davidson & CO. purchased a new stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 48,383 shares of the technology retailer's stock, valued at approximately $3,106,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of BBY. Torren Management LLC bought a new stake in shares of Best Buy in the 4th quarter worth approximately $25,000. MV Capital Management Inc. bought a new position in shares of Best Buy during the fourth quarter valued at approximately $25,000. Palisade Asset Management LLC purchased a new stake in Best Buy in the third quarter worth $25,000. Hillsdale Investment Management Inc. purchased a new stake in Best Buy in the fourth quarter worth $29,000. Finally, Quest 10 Wealth Builders Inc. boosted its holdings in Best Buy by 239.2% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 441 shares of the technology retailer's stock valued at $30,000 after acquiring an additional 311 shares in the last quarter. Institutional investors own 80.96% of the company's stock.

Best Buy Price Performance

Shares of BBY stock opened at $85.75 on Monday. The stock has a market cap of $18.07 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 2.27 and a beta of 1.30. The business's fifty day moving average is $72.71 and its 200 day moving average is $67.57. Best Buy Co., Inc. has a twelve month low of $55.10 and a twelve month high of $87.35. The company has a quick ratio of 0.40, a current ratio of 1.12 and a debt-to-equity ratio of 0.38.

Best Buy (NYSE:BBY - Get Free Report) last announced its quarterly earnings data on Thursday, May 28th. The technology retailer reported $1.28 EPS for the quarter, beating the consensus estimate of $1.23 by $0.05. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.The business had revenue of $8.94 billion during the quarter, compared to analyst estimates of $8.82 billion. During the same quarter last year, the firm posted $1.15 earnings per share. The company's revenue for the quarter was up 1.9% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Research analysts expect that Best Buy Co., Inc. will post 6.56 EPS for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Thursday, June 18th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Thursday, June 18th. Best Buy's dividend payout ratio (DPR) is presently 71.11%.

Insider Transactions at Best Buy

In other Best Buy news, CAO Mathew Watson sold 1,784 shares of the company's stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $73.80, for a total value of $131,659.20. Following the sale, the chief accounting officer owned 21,630 shares in the company, valued at approximately $1,596,294. This represents a 7.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Richard M. Schulze sold 500,350 shares of the firm's stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $76.12, for a total transaction of $38,086,642.00. Following the transaction, the chairman directly owned 10,930,586 shares of the company's stock, valued at $832,036,206.32. This represents a 4.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 1,002,134 shares of company stock valued at $77,283,527. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BBY shares. Wedbush boosted their price objective on shares of Best Buy from $70.00 to $75.00 and gave the company a "neutral" rating in a research report on Friday, May 29th. Citigroup raised their target price on shares of Best Buy from $60.00 to $79.00 and gave the stock a "neutral" rating in a research report on Friday, May 29th. Jefferies Financial Group lifted their target price on shares of Best Buy from $83.00 to $89.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. Wall Street Zen cut shares of Best Buy from a "buy" rating to a "hold" rating in a research report on Monday. Finally, KeyCorp reissued a "sector weight" rating on shares of Best Buy in a research note on Monday, June 22nd. Five equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $79.50.

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.

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