DSG Capital Advisors LLC Lowers Stock Holdings in Best Buy Co., Inc. $BBY

Key Points

• DSG Capital Advisors LLC cut its Best Buy stake by 46.3% in Q4, selling 15,000 shares and leaving it with 17,364 shares valued at about $1.18 million.
• Company insiders have been selling sizable positions recently: CEO Corie Barry sold 42,869 shares and EVP Jason Bonfig sold 6,336, with insiders offloading 77,247 shares (~$4.95 million) in the past 90 days.
• Best Buy beat quarterly EPS expectations ($2.61 vs. $2.48) while revenue was down 1% y/y; the firm raised its quarterly dividend to $0.96 (a ~5.7% yield), set FY2027 EPS guidance of $6.30–$6.60, and currently carries a MarketBeat consensus rating of "Hold" (target $74.85).

DSG Capital Advisors LLC lowered its holdings in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 46.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,364 shares of the technology retailer's stock after selling 15,000 shares during the quarter. DSG Capital Advisors LLC's holdings in Best Buy were worth $1,183,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Sage Private Wealth Group LLC boosted its position in Best Buy by 3.1% during the third quarter. Sage Private Wealth Group LLC now owns 4,109 shares of the technology retailer's stock worth $311,000 after purchasing an additional 123 shares in the last quarter. LVW Advisors LLC boosted its position in Best Buy by 3.9% during the third quarter. LVW Advisors LLC now owns 3,633 shares of the technology retailer's stock worth $275,000 after purchasing an additional 137 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Best Buy by 69.3% in the third quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer's stock valued at $25,000 after acquiring an additional 138 shares in the last quarter. Huntington National Bank lifted its position in shares of Best Buy by 12.0% in the third quarter. Huntington National Bank now owns 1,298 shares of the technology retailer's stock valued at $98,000 after acquiring an additional 139 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC lifted its position in shares of 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 acquiring an additional 152 shares in the last quarter. Hedge funds and other institutional investors own 80.96% of the company's stock.

Best Buy Price Performance

NYSE:BBY opened at $66.96 on Tuesday. Best Buy Co., Inc. has a one year low of $59.77 and a one year high of $84.99. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.43 and a current ratio of 1.11. The stock has a market cap of $14.00 billion, a PE ratio of 13.28, a P/E/G ratio of 1.62 and a beta of 1.35. The stock has a 50 day moving average price of $64.14 and a 200 day moving average price of $70.29.

Best Buy (NYSE:BBY - Get Free Report) last posted its quarterly earnings results on Tuesday, March 3rd. The technology retailer reported $2.61 EPS for the quarter, beating the consensus estimate of $2.48 by $0.13. Best Buy had a return on equity of 49.17% and a net margin of 2.56%.The firm had revenue of $13.81 billion during the quarter, compared to analysts' expectations of $13.96 billion. During the same quarter last year, the firm earned $2.58 earnings per share. The business's revenue for the quarter was down 1.0% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Equities research analysts expect that Best Buy Co., Inc. will post 6.51 EPS for the current fiscal year.

Best Buy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 14th. Investors of record on Tuesday, March 24th were issued a $0.96 dividend. This is a boost from Best Buy's previous quarterly dividend of $0.95. This represents a $3.84 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend was Tuesday, March 24th. Best Buy's payout ratio is 76.19%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BBY shares. Evercore set a $65.00 target price on Best Buy in a research report on Tuesday, April 14th. Wedbush decreased their target price on Best Buy from $80.00 to $70.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 24th. JPMorgan Chase & Co. downgraded Best Buy from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $99.00 to $76.00 in a research report on Monday, February 2nd. Daiwa Securities Group decreased their target price on Best Buy from $80.00 to $68.00 and set a "neutral" rating on the stock in a research report on Thursday, March 5th. Finally, Barclays decreased their target price on Best Buy from $81.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 8th. Eight equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $74.85.

Insider Transactions at Best Buy

In related news, CEO Corie S. Barry sold 42,869 shares of the stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $64.02, for a total value of $2,744,473.38. Following the completion of the sale, the chief executive officer owned 523,138 shares of the company's stock, valued at approximately $33,491,294.76. This trade represents a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jason J. Bonfig sold 6,336 shares of the stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total value of $405,630.72. Following the completion of the sale, the executive vice president directly owned 79,137 shares of the company's stock, valued at approximately $5,066,350.74. This represents a 7.41% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 77,247 shares of company stock valued at $4,945,353. 0.59% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.