Algert Global LLC raised its holdings in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 14.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 168,738 shares of the technology retailer's stock after purchasing an additional 21,555 shares during the quarter. Algert Global LLC owned 0.08% of Best Buy worth $12,804,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Best Buy in the second quarter worth about $1,932,812,000. Vanguard Group Inc. lifted its holdings in Best Buy by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 24,255,320 shares of the technology retailer's stock valued at $1,623,409,000 after buying an additional 307,905 shares in the last quarter. AQR Capital Management LLC boosted its position in Best Buy by 30.9% in the 4th quarter. AQR Capital Management LLC now owns 9,158,839 shares of the technology retailer's stock valued at $613,001,000 after buying an additional 2,160,968 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Best Buy by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,452,642 shares of the technology retailer's stock valued at $498,805,000 after buying an additional 160,713 shares during the period. Finally, Invesco Ltd. grew its stake in Best Buy by 6.1% in the 4th quarter. Invesco Ltd. now owns 4,732,080 shares of the technology retailer's stock worth $316,718,000 after acquiring an additional 271,988 shares in the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Best Buy
In related news, Chairman Richard M. Schulze sold 224,705 shares of the firm's stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $78.10, for a total transaction of $17,549,460.50. Following the sale, the chairman directly owned 10,430,936 shares of the company's stock, valued at $814,656,101.60. This trade represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mathew Watson sold 1,784 shares of Best Buy stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $73.80, for a total value of $131,659.20. Following the transaction, the chief accounting officer owned 21,630 shares of the company's stock, valued at approximately $1,596,294. This represents a 7.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,002,134 shares of company stock worth $77,283,527 in the last 90 days. Company insiders own 0.50% of the company's stock.
Best Buy Stock Performance
Shares of BBY stock opened at $85.33 on Wednesday. The business's fifty day simple moving average is $82.55 and its 200-day simple moving average is $71.03. The company has a current ratio of 1.12, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. Best Buy Co., Inc. has a 12-month low of $55.10 and a 12-month high of $91.26. The company has a market cap of $17.98 billion, a PE ratio of 15.80, a PEG ratio of 2.51 and a beta of 1.29.
Best Buy (NYSE:BBY - Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The technology retailer reported $1.28 EPS for the quarter, topping the consensus estimate of $1.23 by $0.05. The business had revenue of $8.94 billion during the quarter, compared to the consensus estimate of $8.82 billion. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. The business's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.15 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Analysts expect that Best Buy Co., Inc. will post 6.58 earnings per share for the current fiscal year.
Best Buy Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Thursday, June 18th. Best Buy's payout ratio is 71.11%.
Analyst Ratings Changes
Several analysts have recently weighed in on the stock. Morgan Stanley lifted their price target on shares of Best Buy from $72.00 to $80.00 and gave the company an "equal weight" rating in a research note on Friday, May 29th. DA Davidson reissued a "buy" rating and issued a $90.00 price objective on shares of Best Buy in a research note on Monday, June 22nd. The Goldman Sachs Group raised their price objective on Best Buy from $59.00 to $62.00 and gave the stock a "sell" rating in a report on Friday, May 29th. Citigroup lifted their target price on Best Buy from $79.00 to $88.00 and gave the company a "neutral" rating in a research report on Thursday, August 13th. Finally, UBS Group reiterated a "neutral" rating and issued a $86.00 target price (up from $85.00) on shares of Best Buy 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 stock. Based on data from MarketBeat.com, Best Buy has a consensus rating of "Hold" and a consensus target price of $83.10.
Check Out Our Latest Analysis on BBY
About Best Buy
(
Free Report)
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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