Versor Investments LP Buys Shares of 5,900 Best Buy Co., Inc. $BBY

Key Points

• Versor Investments LP acquired 5,900 shares of Best Buy Co., Inc. for approximately $434,000, indicating growing institutional interest in the retailer.
• An insider transaction saw Chairman Richard M. Schulze sell 729,201 shares at an average price of $72.95, representing a 78.81% decrease in his holdings.
• Wall Street analysts have mixed ratings on Best Buy, with a consensus target price of $85.72 and 8 buy ratings versus 11 hold ratings.

Versor Investments LP purchased a new stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 5,900 shares of the technology retailer's stock, valued at approximately $434,000.

A number of other large investors have also recently bought and sold shares of the stock. Brandywine Global Investment Management LLC grew its position in Best Buy by 41.9% in the first quarter. Brandywine Global Investment Management LLC now owns 271,999 shares of the technology retailer's stock valued at $20,022,000 after acquiring an additional 80,337 shares during the period. Dimensional Fund Advisors LP grew its position in Best Buy by 3.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,263,142 shares of the technology retailer's stock valued at $240,173,000 after acquiring an additional 105,710 shares during the period. Horizon Investments LLC grew its position in Best Buy by 6.2% in the first quarter. Horizon Investments LLC now owns 2,862 shares of the technology retailer's stock valued at $211,000 after acquiring an additional 168 shares during the period. KLCM Advisors Inc. grew its position in Best Buy by 2.0% in the first quarter. KLCM Advisors Inc. now owns 109,164 shares of the technology retailer's stock valued at $8,036,000 after acquiring an additional 2,116 shares during the period. Finally, Sei Investments Co. grew its position in Best Buy by 2.4% in the first quarter. Sei Investments Co. now owns 86,778 shares of the technology retailer's stock valued at $6,388,000 after acquiring an additional 2,069 shares during the period. 80.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on BBY shares. Telsey Advisory Group reiterated an "outperform" rating and issued a $90.00 price target on shares of Best Buy in a research report on Friday. Wedbush lowered their price target on Best Buy from $75.00 to $70.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Truist Financial increased their target price on Best Buy from $64.00 to $69.00 and gave the stock a "hold" rating in a report on Friday, May 30th. Wells Fargo & Company decreased their target price on Best Buy from $75.00 to $67.00 and set an "equal weight" rating on the stock in a report on Friday, May 30th. Finally, Piper Sandler restated a "neutral" rating and set a $75.00 target price (down previously from $82.00) on shares of Best Buy in a report on Monday, July 14th. Eight equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $84.50.

Insider Transactions at Best Buy

In related news, Chairman Richard M. Schulze sold 729,201 shares of the firm's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $72.95, for a total value of $53,195,212.95. Following the transaction, the chairman owned 196,100 shares in the company, valued at $14,305,495. This trade represents a 78.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is currently owned by corporate insiders.

Best Buy Trading Up 4.1%

Best Buy stock traded up $2.9960 during mid-day trading on Friday, hitting $75.3860. The stock had a trading volume of 4,185,382 shares, compared to its average volume of 2,980,164. The stock has a 50-day simple moving average of $69.30 and a two-hundred day simple moving average of $71.90. The stock has a market capitalization of $15.93 billion, a PE ratio of 18.43, a P/E/G ratio of 1.99 and a beta of 1.21. Best Buy Co., Inc. has a 12 month low of $54.99 and a 12 month high of $103.71. The company has a current ratio of 1.02, a quick ratio of 0.32 and a debt-to-equity ratio of 0.42.

Best Buy (NYSE:BBY - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The technology retailer reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.06. The business had revenue of $8.77 billion for the quarter, compared to analysts' expectations of $8.77 billion. Best Buy had a return on equity of 46.40% and a net margin of 2.13%.The firm's quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the business earned $1.20 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. As a group, sell-side analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, June 19th were issued a $0.95 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $3.80 annualized dividend and a yield of 5.0%. Best Buy's dividend payout ratio (DPR) is currently 92.91%.

Best Buy Profile

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.