69,605 Shares in Best Buy Co., Inc. $BBY Purchased by Brandywine Global Investment Management LLC

Key Points

• Brandywine Global Investment Management opened a new position in Best Buy, buying 69,605 shares valued at about $4.66 million in the fourth quarter.
• Best Buy reported better-than-expected quarterly results, with EPS of $1.28 versus $1.23 expected and revenue of $8.94 billion versus $8.82 billion estimated.
• The company declared a quarterly dividend of $0.96 per share, implying an annualized yield of about 5.1%; analysts currently rate the stock a consensus Hold.

Brandywine Global Investment Management LLC purchased a new position in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 69,605 shares of the technology retailer's stock, valued at approximately $4,659,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Torren Management LLC purchased a new position in Best Buy in the fourth quarter valued at about $25,000. Palisade Asset Management LLC purchased a new position in Best Buy in the third quarter valued at about $25,000. Hillsdale Investment Management Inc. purchased a new position in Best Buy in the fourth quarter valued at about $29,000. Quest 10 Wealth Builders Inc. increased 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 buying an additional 311 shares in the last quarter. Finally, Activest Wealth Management increased its holdings in Best Buy by 1,247.1% in the fourth quarter. Activest Wealth Management now owns 458 shares of the technology retailer's stock valued at $31,000 after buying an additional 424 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Best Buy Stock Up 0.9%

Shares of NYSE BBY opened at $75.79 on Thursday. Best Buy Co., Inc. has a 1 year low of $55.10 and a 1 year high of $84.99. The firm's 50 day moving average price is $63.97 and its 200 day moving average price is $66.68. The firm has a market cap of $15.97 billion, a P/E ratio of 14.04, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 1.12.

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

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th will be paid a dividend of $0.96 per share. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $3.84 dividend on an annualized basis and a yield of 5.1%. Best Buy's dividend payout ratio (DPR) is currently 71.11%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Weiss Ratings cut shares of Best Buy from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, May 7th. Truist Financial increased their target price on shares of Best Buy from $66.00 to $81.00 and gave the company a "hold" rating in a report on Friday, May 29th. Loop Capital increased their target price on shares of Best Buy from $75.00 to $85.00 and gave the company a "buy" rating in a report on Friday, May 29th. Wedbush increased their target price on shares of Best Buy from $70.00 to $75.00 and gave the company a "neutral" rating in a report on Friday, May 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of Best Buy from $76.00 to $84.00 and gave the company a "neutral" rating in a report on Friday, May 29th. Six equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Best Buy currently has a consensus rating of "Hold" and a consensus target price of $79.05.

Insider Activity at Best Buy

In other Best Buy news, EVP Jason J. Bonfig sold 6,336 shares of the stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total transaction of $405,630.72. Following the transaction, the executive vice president owned 79,137 shares of the company's stock, valued at $5,066,350.74. This trade represents a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Corie S. Barry sold 42,869 shares of the stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $64.02, for a total transaction of $2,744,473.38. Following the transaction, the chief executive officer directly owned 523,138 shares in the company, valued at approximately $33,491,294.76. This represents a 7.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 579,381 shares of company stock valued at $43,163,654 over the last 90 days. 0.47% of the stock is currently owned by insiders.

Best Buy 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.

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