74,636 Shares in Best Buy Co., Inc. $BBY Acquired by Qsemble Capital Management LP

Key Points

• Qsemble Capital Management LP disclosed a new fourth-quarter position in Best Buy, buying 74,636 shares worth about $5.0 million.
• Best Buy’s insider activity has been notable, with CEO Corie S. Barry and insider Todd G. Hartman both selling shares in March; insiders have sold 77,247 shares over the last 90 days.
• Analysts are mixed on BBY, with a consensus rating of “Hold” and a consensus price target of $70.80, while Best Buy recently beat EPS estimates but posted slightly weaker-than-expected revenue and raised its quarterly dividend to $0.96 per share.

Qsemble Capital Management LP purchased a new position in Best Buy Co., Inc. (NYSE:BBY - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 74,636 shares of the technology retailer's stock, valued at approximately $4,995,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Torren Management LLC acquired a new stake in shares of Best Buy in the 4th quarter worth approximately $25,000. Palisade Asset Management LLC acquired a new stake in shares of Best Buy in the 3rd quarter worth approximately $25,000. Quest 10 Wealth Builders Inc. grew its holdings in shares of Best Buy by 239.2% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 441 shares of the technology retailer's stock worth $30,000 after acquiring an additional 311 shares during the period. Activest Wealth Management grew its holdings in shares of Best Buy by 1,247.1% in the 4th quarter. Activest Wealth Management now owns 458 shares of the technology retailer's stock worth $31,000 after acquiring an additional 424 shares during the period. Finally, Root Financial Partners LLC acquired a new stake in Best Buy during the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 80.96% of the company's stock.

Insider Activity

In related news, CEO Corie S. Barry sold 42,869 shares of the company's 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 $2,744,473.38. Following the completion of the transaction, the chief executive officer owned 523,138 shares of the company's stock, valued at approximately $33,491,294.76. This represents a 7.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Todd G. Hartman sold 5,339 shares of the company's 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 $341,802.78. Following the transaction, the insider directly owned 44,098 shares of the company's stock, valued at $2,823,153.96. This trade represents a 10.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 77,247 shares of company stock valued at $4,945,353 in the last ninety days. 0.47% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on BBY. Wells Fargo & Company dropped their price target on Best Buy from $70.00 to $60.00 and set an "equal weight" rating for the company in a research report on Thursday. Wedbush raised their price target on Best Buy from $7.00 to $8.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 28th. Evercore set a $65.00 price target on Best Buy in a research report on Tuesday, April 14th. Morgan Stanley dropped their price target on Best Buy from $76.00 to $72.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 4th. Finally, Citigroup dropped their price target on Best Buy from $69.00 to $60.00 and set a "neutral" rating for the company in a research report on Tuesday. Nine investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Best Buy currently has a consensus rating of "Hold" and a consensus price target of $70.80.

Best Buy Price Performance

Shares of NYSE:BBY opened at $56.36 on Friday. The company has a market cap of $11.87 billion, a P/E ratio of 11.18, a P/E/G ratio of 1.40 and a beta of 1.22. The company has a quick ratio of 0.43, a current ratio of 1.11 and a debt-to-equity ratio of 0.39. Best Buy Co., Inc. has a 52 week low of $55.10 and a 52 week high of $84.99. The business has a fifty day simple moving average of $62.23 and a 200-day simple moving average of $68.08.

Best Buy (NYSE:BBY - Get Free Report) last announced its quarterly earnings data on Tuesday, March 3rd. The technology retailer reported $2.61 EPS for the quarter, beating analysts' consensus estimates of $2.48 by $0.13. The business had revenue of $13.81 billion during the quarter, compared to the consensus estimate of $13.96 billion. Best Buy had a return on equity of 49.17% and a net margin of 2.56%.The business's revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.58 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Equities research analysts forecast that Best Buy Co., Inc. will post 6.5 EPS for the current year.

Best Buy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 14th. Investors of record on Tuesday, March 24th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 6.8%. This is a positive change from Best Buy's previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Tuesday, March 24th. Best Buy's dividend payout ratio (DPR) is currently 76.19%.

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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