Corient Private Wealth LLC Has $2.29 Million Position in Best Buy Co., Inc. $BBY

Key Points

• Corient Private Wealth LLC nearly doubled its Best Buy position in Q4, increasing its stake by 92.9% to 34,167 shares valued at about $2.29 million.
• Best Buy reported a solid quarter, with EPS of $1.28 beating estimates and revenue of $8.94 billion slightly above expectations; the company also kept its FY 2027 EPS guidance at 6.30 to 6.60.
• The company declared a quarterly dividend of $0.96 per share payable July 9, while analysts currently hold a consensus rating of “Hold” with a target price of $79.50.

Corient Private Wealth LLC lifted its stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 92.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,167 shares of the technology retailer's stock after purchasing an additional 16,452 shares during the quarter. Corient Private Wealth LLC's holdings in Best Buy were worth $2,288,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in BBY. Palisade Asset Management LLC acquired a new stake in Best Buy in the third quarter valued at approximately $25,000. MV Capital Management Inc. acquired a new position in shares of Best Buy during the fourth quarter worth $25,000. Torren Management LLC acquired a new position in shares of Best Buy during the fourth quarter worth $25,000. Hillsdale Investment Management Inc. bought a new position in shares of Best Buy in the 4th quarter valued at $29,000. Finally, Quest 10 Wealth Builders Inc. lifted its stake in shares of Best Buy by 239.2% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 441 shares of the technology retailer's stock valued at $30,000 after acquiring an additional 311 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Best Buy Stock Performance

Shares of Best Buy stock opened at $77.91 on Monday. The stock has a market cap of $16.42 billion, a price-to-earnings ratio of 14.43, a P/E/G ratio of 2.07 and a beta of 1.30. Best Buy Co., Inc. has a twelve month low of $55.10 and a twelve month high of $84.99. The company's fifty day moving average is $67.01 and its 200 day moving average is $66.64. The company has a quick ratio of 0.40, a current ratio of 1.12 and a debt-to-equity ratio of 0.38.

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 (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 analyst estimates of $8.82 billion. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.Best Buy's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $1.15 EPS. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Sell-side analysts forecast that Best Buy Co., Inc. will post 6.56 EPS for the current year.

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Thursday, June 18th. Best Buy's dividend payout ratio (DPR) is 71.11%.

Insider Buying and Selling

In other Best Buy news, Chairman Richard M. Schulze sold 500,350 shares of the stock in a transaction that occurred 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 owned 10,930,586 shares of the company's stock, valued at approximately $832,036,206.32. This represents a 4.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Mathew Watson sold 1,784 shares of the firm's stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $73.80, for a total transaction 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. The trade was a 7.62% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 1,002,134 shares of company stock worth $77,283,527. 0.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BBY shares. Wall Street Zen upgraded Best Buy from a "hold" rating to a "buy" rating in a research report on Saturday, June 20th. DA Davidson reiterated a "buy" rating and issued a $90.00 target price on shares of Best Buy in a research report on Monday, June 22nd. Evercore lifted their price target on Best Buy from $65.00 to $85.00 in a research note on Friday, May 29th. UBS Group restated a "neutral" rating and set a $86.00 price target (up from $85.00) on shares of Best Buy in a report on Friday, May 29th. Finally, The Goldman Sachs Group upped their price objective on Best Buy from $59.00 to $62.00 and gave the company a "sell" rating in a research note on Friday, May 29th. Six research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $79.50.

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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