Best Buy Co., Inc. $BBY Shares Purchased by Entropy Technologies LP

Entropy Technologies LP raised its stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 111.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,236 shares of the technology retailer's stock after purchasing an additional 24,331 shares during the period. Entropy Technologies LP's holdings in Best Buy were worth $2,968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Best Buy by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 24,255,320 shares of the technology retailer's stock valued at $1,623,409,000 after acquiring an additional 307,905 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Best Buy by 30.9% during the 4th quarter. AQR Capital Management LLC now owns 9,158,839 shares of the technology retailer's stock worth $613,001,000 after purchasing an additional 2,160,968 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Best Buy by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,452,642 shares of the technology retailer's stock worth $498,805,000 after purchasing an additional 160,713 shares in the last quarter. Invesco Ltd. increased its holdings in Best Buy by 6.1% in the fourth quarter. Invesco Ltd. now owns 4,732,080 shares of the technology retailer's stock valued at $316,718,000 after buying an additional 271,988 shares during the last quarter. Finally, Morgan Stanley raised its stake in Best Buy by 19.1% in the fourth quarter. Morgan Stanley now owns 3,778,294 shares of the technology retailer's stock valued at $252,881,000 after buying an additional 605,911 shares in the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on BBY. JPMorgan Chase & Co. increased their price objective on Best Buy from $76.00 to $84.00 and gave the company a "neutral" rating in a report on Friday, May 29th. Telsey Advisory Group set a $90.00 price target on Best Buy and gave the company an "outperform" rating in a report on Friday, May 29th. BNP Paribas Exane raised their price objective on shares of Best Buy from $74.00 to $76.00 and gave the stock a "neutral" rating in a report on Friday, May 29th. Piper Sandler restated a "neutral" rating and set a $77.00 price objective on shares of Best Buy in a research report on Thursday, May 28th. Finally, Loop Capital downgraded shares of Best Buy from a "buy" rating to a "hold" rating and set a $82.00 target price on the stock. in a research report on Monday, July 13th. Five analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $79.50.

Best Buy Trading Up 1.0%

Shares of Best Buy stock opened at $85.26 on Friday. Best Buy Co., Inc. has a 1 year low of $55.10 and a 1 year high of $87.35. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 1.12. The company has a market capitalization of $17.97 billion, a P/E ratio of 15.79, a PEG ratio of 2.27 and a beta of 1.30. The company's fifty day moving average is $75.59 and its two-hundred day moving average is $68.19.

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 for the quarter, topping the consensus estimate of $1.23 by $0.05. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. The business had revenue of $8.94 billion during the quarter, compared to the consensus estimate of $8.82 billion. During the same quarter in the prior year, the firm earned $1.15 earnings per share. The business's quarterly 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. Analysts forecast that Best Buy Co., Inc. will post 6.56 earnings per share for the current year.

Best Buy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th were paid a $0.96 dividend. 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 (DPR) is 71.11%.

Insider Buying and Selling

In related news, Chairman Richard M. Schulze sold 500,350 shares of Best Buy stock in a transaction on Friday, May 29th. The shares were sold at an average price of $76.12, for a total value of $38,086,642.00. Following the transaction, the chairman directly owned 10,930,586 shares in the company, valued at $832,036,206.32. This trade represents a 4.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Mathew Watson sold 1,784 shares of Best Buy stock in a transaction on Friday, May 29th. The shares were sold at an average price of $73.80, for a total transaction of $131,659.20. Following the completion of the transaction, the chief accounting officer owned 21,630 shares in the company, valued at approximately $1,596,294. This trade represents a 7.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 1,002,134 shares of company stock worth $77,283,527. Corporate insiders own 0.50% of the company's stock.

Best Buy Company 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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