Aware Super Pty Ltd as trustee of Aware Super Takes Position in Best Buy Co., Inc. $BBY

Key Points

• Aware Super initiated a new stake in Best Buy during the first quarter, buying 103,427 shares valued at about $6.64 million.
• Best Buy reported better-than-expected quarterly results, with EPS of $1.28 versus $1.23 expected and revenue of $8.94 billion, up 1.9% year over year.
• The company also declared a quarterly dividend of $0.96 per share, equal to an annualized yield of about 4.5%; meanwhile, analysts’ consensus rating remains Hold with an average price target of $79.50.

Aware Super Pty Ltd as trustee of Aware Super bought a new stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 103,427 shares of the technology retailer's stock, valued at approximately $6,640,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC lifted its position in Best Buy by 3.0% during the 4th quarter. Krane Funds Advisors LLC now owns 5,163 shares of the technology retailer's stock worth $346,000 after buying an additional 151 shares in the last quarter. Linden Thomas Advisory Services LLC raised its stake in Best Buy by 0.9% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 16,637 shares of the technology retailer's stock valued at $1,114,000 after buying an additional 152 shares during the period. Applied Finance Capital Management LLC lifted its holdings in Best Buy by 3.8% during the 4th quarter. Applied Finance Capital Management LLC now owns 4,270 shares of the technology retailer's stock valued at $286,000 after purchasing an additional 157 shares during the last quarter. International Private Wealth Advisors LLC grew its stake in shares of Best Buy by 5.2% in the fourth quarter. International Private Wealth Advisors LLC now owns 3,345 shares of the technology retailer's stock valued at $224,000 after acquiring an additional 165 shares in the last quarter. Finally, J. Team Financial Inc. grew its stake in Best Buy by 4.2% during the fourth quarter. J. Team Financial Inc. now owns 4,251 shares of the technology retailer's stock worth $285,000 after buying an additional 171 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company's stock.

Insiders Place Their Bets

In other news, Chairman Richard M. Schulze sold 500,350 shares of the business's stock in a transaction 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 completion of the sale, the chairman directly owned 10,930,586 shares of the company's stock, valued at $832,036,206.32. The trade was a 4.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Mathew Watson sold 1,784 shares of the firm'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 of the company's stock, valued at $1,596,294. This represents a 7.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 1,002,134 shares of company stock worth $77,283,527. Corporate insiders own 0.50% of the company's stock.

Best Buy Trading Up 0.5%

Shares of Best Buy stock opened at $85.75 on Friday. 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 Co., Inc. has a fifty-two week low of $55.10 and a fifty-two week high of $87.35. The company has a market cap of $18.07 billion, a P/E ratio of 15.88, a price-to-earnings-growth ratio of 2.27 and a beta of 1.30. The firm has a 50-day simple moving average of $72.71 and a two-hundred day simple moving average of $67.58.

Best Buy (NYSE:BBY - Get Free Report) last issued 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 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 the consensus estimate of $8.82 billion. During the same period last year, the company earned $1.15 EPS. 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. As a group, equities analysts predict that Best Buy Co., Inc. will post 6.56 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th were paid a dividend of $0.96 per share. 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 is 71.11%.

Analysts Set New Price Targets

Several brokerages recently commented on BBY. Truist Financial upped their target price on Best Buy from $66.00 to $81.00 and gave the company a "hold" rating in a report on Friday, May 29th. The Goldman Sachs Group boosted their target price on Best Buy from $59.00 to $62.00 and gave the stock a "sell" rating in a research report on Friday, May 29th. UBS Group reaffirmed a "neutral" rating and issued a $86.00 price objective (up from $85.00) on shares of Best Buy in a research note on Friday, May 29th. Guggenheim reaffirmed a "buy" rating and issued a $90.00 target price on shares of Best Buy in a research report on Friday, May 29th. Finally, Jefferies Financial Group upped their target price on shares of Best Buy from $83.00 to $89.00 and gave the stock a "buy" rating in a research note on Thursday, May 28th. Five equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price 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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