Best Buy Co., Inc. $BBY Shares Sold by Azimuth Capital Investment Management LLC

Key Points

• Azimuth Capital Investment Management LLC reduced its stake in Best Buy by 35.7%, selling 24,607 shares to hold 44,315 shares valued at $3.26 million as of the latest SEC filing.
• Best Buy recently declared a quarterly dividend of $0.95 per share, resulting in an annualized payout of $3.80 and a yield of 5.3% with a payout ratio of 92.91%.
• The company reported earnings per share (EPS) of $1.15 for the latest quarter, surpassing analysts' expectations, although revenue declined 0.9% year-over-year.

Azimuth Capital Investment Management LLC reduced its holdings in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 35.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,315 shares of the technology retailer's stock after selling 24,607 shares during the period. Azimuth Capital Investment Management LLC's holdings in Best Buy were worth $3,262,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of BBY. Mariner LLC lifted its stake in shares of Best Buy by 0.3% in the fourth quarter. Mariner LLC now owns 43,215 shares of the technology retailer's stock worth $3,708,000 after buying an additional 129 shares in the last quarter. Jump Financial LLC lifted its stake in shares of Best Buy by 81.0% in the fourth quarter. Jump Financial LLC now owns 10,517 shares of the technology retailer's stock worth $902,000 after buying an additional 4,706 shares in the last quarter. NewEdge Advisors LLC raised its stake in Best Buy by 45.5% during the fourth quarter. NewEdge Advisors LLC now owns 64,852 shares of the technology retailer's stock worth $5,564,000 after purchasing an additional 20,277 shares during the period. Canada Pension Plan Investment Board raised its stake in Best Buy by 461.2% during the fourth quarter. Canada Pension Plan Investment Board now owns 621,994 shares of the technology retailer's stock worth $53,367,000 after purchasing an additional 511,161 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its stake in Best Buy by 2.0% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 473,990 shares of the technology retailer's stock worth $40,672,000 after purchasing an additional 9,459 shares during the period. 80.96% of the stock is owned by hedge funds and other institutional investors.

Best Buy Stock Up 3.2%

Shares of BBY stock traded up $2.3060 during trading on Tuesday, reaching $74.1060. The company's stock had a trading volume of 5,688,930 shares, compared to its average volume of 3,627,804. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.02 and a quick ratio of 0.32. The company has a market capitalization of $15.66 billion, a price-to-earnings ratio of 18.12, a P/E/G ratio of 1.89 and a beta of 1.21. The stock's 50-day moving average price is $69.21 and its 200 day moving average price is $72.03. Best Buy Co., Inc. has a 1-year low of $54.99 and a 1-year high of $103.71.

Best Buy (NYSE:BBY - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The technology retailer reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $0.06. The firm had revenue of $8.77 billion during the quarter, compared to analysts' expectations of $8.77 billion. Best Buy had a net margin of 2.13% and a return on equity of 46.40%. The business's quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.20 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. On average, research analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, June 19th were issued a $0.95 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.1%. Best Buy's payout ratio is 92.91%.

Insider Buying and Selling

In other Best Buy news, Chairman Richard M. Schulze sold 729,201 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $72.95, for a total transaction of $53,195,212.95. Following the completion of the transaction, the chairman owned 196,100 shares in the company, valued at $14,305,495. The trade was a 78.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.59% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on BBY shares. BNP Paribas raised shares of Best Buy to a "hold" rating in a research note on Friday, May 30th. UBS Group reduced their target price on shares of Best Buy from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. Wedbush reduced their target price on shares of Best Buy from $75.00 to $70.00 and set a "neutral" rating on the stock in a research note on Friday, May 30th. Wells Fargo & Company reduced their target price on shares of Best Buy from $75.00 to $67.00 and set an "equal weight" rating on the stock in a research note on Friday, May 30th. Finally, Barclays reduced their target price on shares of Best Buy from $89.00 to $74.00 and set an "equal weight" rating on the stock in a research note on Friday, May 30th. Eight investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $85.72.

Best Buy Profile

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.