Concurrent Investment Advisors LLC Has $10.03 Million Stock Position in Best Buy Co., Inc. $BBY

Key Points

• Concurrent Investment Advisors increased its Best Buy stake by 44.9% in the second quarter, ending with 132,210 shares valued at approximately $10.03 million. Institutional investors collectively own 80.96% of BBY.
• Best Buy exceeded quarterly expectations, reporting $1.47 in adjusted EPS and $9.78 billion in revenue, while revenue grew 3.6% year over year. The company maintained fiscal 2027 EPS guidance of $6.70–$6.90.
• Best Buy declared a quarterly dividend of $0.96 per share, equivalent to an annualized $3.84 and a 4.3% yield. Despite some raised price targets, analysts’ consensus rating remains “Hold,” with an average target of $85.40.

Concurrent Investment Advisors LLC lifted its stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 44.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 132,210 shares of the technology retailer's stock after purchasing an additional 40,993 shares during the period. Concurrent Investment Advisors LLC owned 0.06% of Best Buy worth $10,032,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in BBY. Woodline Partners LP raised its position in Best Buy by 40.1% during the first quarter. Woodline Partners LP now owns 16,436 shares of the technology retailer's stock worth $1,210,000 after acquiring an additional 4,701 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Best Buy by 4.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 29,560 shares of the technology retailer's stock worth $1,984,000 after purchasing an additional 1,234 shares during the last quarter. Investment Management Corp of Ontario increased its stake in shares of Best Buy by 127.7% during the 2nd quarter. Investment Management Corp of Ontario now owns 12,997 shares of the technology retailer's stock worth $872,000 after purchasing an additional 7,288 shares during the last quarter. Ieq Capital LLC raised its holdings in shares of Best Buy by 155.4% in the 2nd quarter. Ieq Capital LLC now owns 160,568 shares of the technology retailer's stock valued at $10,779,000 after purchasing an additional 97,688 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in shares of Best Buy by 32.0% in the 2nd quarter. Alliancebernstein L.P. now owns 313,584 shares of the technology retailer's stock valued at $21,051,000 after purchasing an additional 76,102 shares during the period. Institutional investors and hedge funds own 80.96% of the company's stock.

Insider Buying and Selling at Best Buy

In related news, Chairman Richard Schulze sold 224,705 shares of the business's stock in a transaction on Friday, June 26th. The stock was sold at an average price of $78.10, for a total value of $17,549,460.50. Following the completion of the sale, the chairman directly owned 10,430,936 shares in the company, valued at $814,656,101.60. The trade was a 2.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 500,000 shares of company stock worth $39,065,226 in the last 90 days. 0.50% of the stock is currently owned by company insiders.

Best Buy Stock Performance

Shares of BBY stock opened at $90.35 on Friday. The company has a market capitalization of $19.04 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 2.25 and a beta of 1.28. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.41 and a current ratio of 1.12. The company has a 50-day simple moving average of $84.03 and a 200 day simple moving average of $72.00. Best Buy Co., Inc. has a 52 week low of $55.10 and a 52 week high of $91.26.

Best Buy (NYSE:BBY - Get Free Report) last released its quarterly earnings results on Thursday, August 27th. The technology retailer reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.08. The firm had revenue of $9.78 billion for the quarter, compared to analysts' expectations of $9.59 billion. Best Buy had a net margin of 3.01% and a return on equity of 48.14%. The business's revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.28 EPS. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. On average, sell-side analysts predict that Best Buy Co., Inc. will post 6.81 earnings per share for the current year.

Best Buy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th will be paid a dividend of $0.96 per share. The ex-dividend date is Thursday, September 17th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.3%. Best Buy's dividend payout ratio (DPR) is 63.89%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Evercore raised their target price on shares of Best Buy from $65.00 to $85.00 in a research note on Friday, May 29th. JPMorgan Chase & Co. boosted their price target on Best Buy from $76.00 to $84.00 and gave the stock a "neutral" rating in a research report on Friday, May 29th. Wall Street Zen upgraded Best Buy from a "hold" rating to a "buy" rating in a research note on Saturday, August 29th. Loop Capital cut Best Buy from a "buy" rating to a "hold" rating and set a $82.00 price objective for the company. in a research report on Monday, July 13th. Finally, Truist Financial set a $100.00 target price on Best Buy in a research note on Thursday, August 27th. Seven research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Best Buy presently has a consensus rating of "Hold" and a consensus target price of $85.40.

Best Buy 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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