Islay Capital Management LLC Acquires Shares of 14,720 Best Buy Co., Inc. $BBY

Key Points

• Islay Capital Management LLC has acquired a new stake of 14,720 shares in Best Buy Co., Inc., valued at approximately $1,084,000, during the first quarter.
• Best Buy recently announced a quarterly dividend of $0.95 per share, equating to an annualized dividend of $3.80 and a yield of 5.0%.
• Despite a slight year-over-year revenue decrease of 0.9%, Best Buy reported an EPS of $1.15 for the last quarter, surpassing analysts’ expectations.

Islay Capital Management LLC acquired a new stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 14,720 shares of the technology retailer's stock, valued at approximately $1,084,000.

A number of other hedge funds also recently bought and sold shares of the company. LRI Investments LLC lifted its stake in Best Buy by 36.3% during the fourth quarter. LRI Investments LLC now owns 529 shares of the technology retailer's stock valued at $45,000 after buying an additional 141 shares in the last quarter. Prosperity Consulting Group LLC lifted its stake in Best Buy by 6.4% during the fourth quarter. Prosperity Consulting Group LLC now owns 2,404 shares of the technology retailer's stock valued at $206,000 after buying an additional 145 shares in the last quarter. Community Bank & Trust Waco Texas lifted its stake in Best Buy by 0.5% during the first quarter. Community Bank & Trust Waco Texas now owns 30,970 shares of the technology retailer's stock valued at $2,280,000 after buying an additional 145 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Best Buy by 25.6% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 721 shares of the technology retailer's stock valued at $53,000 after buying an additional 147 shares in the last quarter. Finally, HB Wealth Management LLC lifted its stake in Best Buy by 2.4% during the first quarter. HB Wealth Management LLC now owns 6,348 shares of the technology retailer's stock valued at $467,000 after buying an additional 149 shares in the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Best Buy Trading Up 4.1%

NYSE:BBY opened at $75.3860 on Monday. The stock's 50 day moving average price is $69.30 and its 200 day moving average price is $71.70. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $103.71. The company has a market capitalization of $15.93 billion, a P/E ratio of 18.43, a P/E/G ratio of 1.99 and a beta of 1.21. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.32 and a current ratio of 1.02.

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

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, June 19th were issued a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 5.0%. The ex-dividend date was Wednesday, June 18th. Best Buy's payout ratio is 92.91%.

Analyst Ratings Changes

A number of research firms have commented on BBY. Guggenheim reaffirmed a "buy" rating and set a $90.00 price objective on shares of Best Buy in a research note on Tuesday, June 10th. Piper Sandler reissued a "neutral" rating and issued a $75.00 price target (down from $82.00) on shares of Best Buy in a research report on Monday, July 14th. Telsey Advisory Group reissued an "outperform" rating and issued a $90.00 price target on shares of Best Buy in a research report on Friday. JPMorgan Chase & Co. reduced their price target on shares of Best Buy from $95.00 to $88.00 and set an "overweight" rating for the company in a research report on Friday. Finally, Truist Financial increased their price target on shares of Best Buy from $64.00 to $69.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. Eight investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $84.50.

Insider Transactions at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 729,201 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $72.95, for a total transaction of $53,195,212.95. Following the transaction, the chairman owned 196,100 shares in the company, valued at $14,305,495. This trade represents a 78.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.59% of the stock is owned by insiders.

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.

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