MBB Public Markets I LLC Makes New $313,000 Investment in Best Buy Co., Inc. $BBY

Key Points

• MBB Public Markets I LLC made a new investment of $313,000 in Best Buy Co., Inc. by acquiring 4,247 shares during the first quarter of the year.
• Best Buy reported an earnings per share (EPS) of $1.28, surpassing analysts' expectations of $1.22, with a revenue of $9.44 billion for the last quarter.
• The company announced a quarterly dividend of $0.95 per share, equating to an annualized yield of 4.9%.

MBB Public Markets I LLC bought a new position in Best Buy Co., Inc. (NYSE:BBY - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,247 shares of the technology retailer's stock, valued at approximately $313,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pinnacle Bancorp Inc. boosted its stake in Best Buy by 108.5% in the first quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer's stock worth $25,000 after buying an additional 178 shares in the last quarter. Vermillion Wealth Management Inc. purchased a new stake in shares of Best Buy during the fourth quarter valued at approximately $31,000. Grove Bank & Trust boosted its stake in shares of Best Buy by 67.1% during the first quarter. Grove Bank & Trust now owns 431 shares of the technology retailer's stock valued at $32,000 after purchasing an additional 173 shares during the period. LRI Investments LLC boosted its stake in shares of 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 purchasing an additional 141 shares during the period. Finally, Tompkins Financial Corp purchased a new stake in shares of Best Buy during the first quarter valued at approximately $48,000. Hedge funds and other institutional investors own 80.96% of the company's stock.

Best Buy Price Performance

Shares of Best Buy stock opened at $77.12 on Wednesday. The company has a quick ratio of 0.36, a current ratio of 1.04 and a debt-to-equity ratio of 0.43. The company has a market cap of $16.30 billion, a PE ratio of 21.30, a P/E/G ratio of 2.04 and a beta of 1.19. The business has a 50 day moving average of $70.88 and a 200 day moving average of $70.63. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $103.48.

Best Buy (NYSE:BBY - Get Free Report) last announced its earnings results on Thursday, August 28th. The technology retailer reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.22 by $0.06. The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.23 billion. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The firm's revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.34 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. As a group, equities research analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be given a dividend of $0.95 per share. The ex-dividend date of this dividend is Thursday, September 18th. This represents a $3.80 annualized dividend and a yield of 4.9%. Best Buy's dividend payout ratio (DPR) is currently 104.97%.

Wall Street Analyst Weigh In

BBY has been the subject of a number of analyst reports. UBS Group dropped their price objective on Best Buy from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Wells Fargo & Company increased their price objective on Best Buy from $67.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, August 29th. JPMorgan Chase & Co. increased their price objective on Best Buy from $88.00 to $89.00 and gave the company an "overweight" rating in a research note on Friday, August 29th. Bank of America dropped their price objective on Best Buy from $63.00 to $60.00 and set an "underperform" rating for the company in a research note on Friday, August 29th. Finally, Evercore ISI upped their target price on Best Buy from $75.00 to $77.00 and gave the company an "in-line" rating in a report on Friday, August 29th. Nine research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $82.59.

Insider Buying and Selling at Best Buy

In other Best Buy news, CAO Mathew Watson sold 3,715 shares of the firm's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $74.07, for a total transaction of $275,170.05. Following the completion of the transaction, the chief accounting officer owned 22,150 shares of the company's stock, valued at approximately $1,640,650.50. This trade represents a 14.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Richard M. Schulze sold 196,100 shares of the firm's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $74.00, for a total value of $14,511,400.00. The disclosure for this sale can be found here. Insiders have sold 201,833 shares of company stock valued at $14,941,472 in the last three months. Insiders own 0.59% of the company's stock.

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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