Kaufman Rossin Wealth LLC Invests $316,000 in Best Buy Co., Inc. $BBY

Key Points

• Kaufman Rossin Wealth LLC invested approximately $316,000 to acquire 4,297 shares of Best Buy Co., Inc. (NYSE: BBY) during the first quarter.
• Best Buy reported $1.15 EPS for the latest quarter, exceeding analysts' consensus estimate of $1.09, though its revenue saw a 0.9% decline year over year.
• The company's recent quarterly dividend was set at $0.95 per share, translating to an annualized yield of 5.3% with a current payout ratio of 92.91%.

Kaufman Rossin Wealth LLC acquired a new stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,297 shares of the technology retailer's stock, valued at approximately $316,000.

A number of other hedge funds have also bought and sold shares of the company. Pinnacle Bancorp Inc. grew its position in shares of Best Buy by 108.5% during the 1st quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer's stock worth $25,000 after buying an additional 178 shares during the period. Vermillion Wealth Management Inc. bought a new position in Best Buy during the fourth quarter worth $31,000. Ancora Advisors LLC grew its holdings in Best Buy by 18,700.0% in the fourth quarter. Ancora Advisors LLC now owns 376 shares of the technology retailer's stock worth $32,000 after purchasing an additional 374 shares during the period. Grove Bank & Trust grew its holdings in Best Buy by 67.1% in the first quarter. Grove Bank & Trust now owns 431 shares of the technology retailer's stock worth $32,000 after purchasing an additional 173 shares during the period. Finally, LRI Investments LLC increased its stake in Best Buy by 36.3% in the fourth quarter. LRI Investments LLC now owns 529 shares of the technology retailer's stock valued at $45,000 after purchasing an additional 141 shares in the last quarter. Institutional investors own 80.96% of the company's stock.

Best Buy Trading Down 2.4%

Shares of Best Buy stock opened at $72.3470 on Thursday. The company has a market capitalization of $15.29 billion, a P/E ratio of 17.69, a price-to-earnings-growth ratio of 1.96 and a beta of 1.21. The stock has a fifty day simple moving average of $69.19 and a 200 day simple moving average of $72.04. Best Buy Co., Inc. has a 12-month low of $54.99 and a 12-month high of $103.71. The company has a current ratio of 1.02, a quick ratio of 0.32 and a debt-to-equity ratio of 0.42.

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

Best Buy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, June 19th were paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date was Wednesday, June 18th. Best Buy's payout ratio is currently 92.91%.

Insider Buying and Selling

In other 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 value of $53,195,212.95. Following the sale, the chairman owned 196,100 shares of the company's stock, valued at $14,305,495. The trade was a 78.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.47% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BBY. Piper Sandler reissued a "neutral" rating and set a $75.00 price objective (down previously from $82.00) on shares of Best Buy in a research report on Monday, July 14th. UBS Group dropped their price target on Best Buy from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. Loop Capital reduced their price objective on Best Buy from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $90.00 target price on shares of Best Buy in a research report on Friday, May 30th. Finally, Wells Fargo & Company reduced their price target on shares of Best Buy from $75.00 to $67.00 and set an "equal weight" rating for the company in a research report on Friday, May 30th. Eight research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average 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.

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