Perbak Capital Partners LLP Buys New Shares in Best Buy Co., Inc. $BBY

Key Points

• Perbak Capital Partners LLP made a new investment of approximately $316,000 in Best Buy Co., acquiring 4,295 shares of the retailer's stock during the first quarter.
• Best Buy recently announced a quarterly dividend of $0.95 per share, with an annualized yield of 5.1%, despite a dividend payout ratio of 104.97%.
• In its latest quarterly earnings, Best Buy reported earnings per share of $1.28, exceeding analysts' expectations, alongside revenue of $9.44 billion, a growth of 1.6% compared to the previous year.

Perbak Capital Partners LLP acquired a new stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 4,295 shares of the technology retailer's stock, valued at approximately $316,000.

Several other hedge funds have also recently bought and sold shares of BBY. Mercer Global Advisors Inc. ADV bought a new stake in Best Buy in the 4th quarter valued at about $3,625,000. AXA S.A. lifted its position in Best Buy by 111.3% in the 4th quarter. AXA S.A. now owns 66,868 shares of the technology retailer's stock valued at $5,737,000 after purchasing an additional 35,215 shares during the last quarter. Ancora Advisors LLC lifted its position in Best Buy by 18,700.0% in the 4th quarter. Ancora Advisors LLC now owns 376 shares of the technology retailer's stock valued at $32,000 after purchasing an additional 374 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Best Buy by 6.2% in the 4th quarter. Ameriprise Financial Inc. now owns 723,133 shares of the technology retailer's stock valued at $62,074,000 after purchasing an additional 42,159 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its position in Best Buy by 3.5% in the 4th quarter. Baird Financial Group Inc. now owns 51,413 shares of the technology retailer's stock valued at $4,411,000 after purchasing an additional 1,735 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors.

Best Buy Price Performance

Shares of BBY traded down $0.89 during mid-day trading on Friday, hitting $76.16. The company's stock had a trading volume of 2,870,767 shares, compared to its average volume of 3,731,741. The firm has a 50-day moving average price of $70.54 and a 200 day moving average price of $70.95. The stock has a market capitalization of $16.10 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 2.03 and a beta of 1.19. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.04 and a quick ratio of 0.36. Best Buy Co., Inc. has a fifty-two week low of $54.99 and a fifty-two week high of $103.48.

Best Buy (NYSE:BBY - Get Free Report) last announced its quarterly earnings data on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.06. The company had revenue of $9.44 billion for the quarter, compared to analysts' expectations of $9.23 billion. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. The business's revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.34 EPS. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. On average, research analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th will be given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Thursday, September 18th. Best Buy's dividend payout ratio (DPR) is 104.97%.

Wall Street Analyst Weigh In

BBY has been the topic of a number of recent analyst reports. Citigroup restated a "buy" rating on shares of Best Buy in a research report on Thursday, August 28th. Loop Capital dropped their price target on shares of Best Buy from $90.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. JPMorgan Chase & Co. boosted their price target on shares of Best Buy from $88.00 to $89.00 and gave the stock an "overweight" rating in a research report on Friday, August 29th. Evercore ISI boosted their price target on shares of Best Buy from $75.00 to $77.00 and gave the stock an "in-line" rating in a research report on Friday, August 29th. Finally, Wells Fargo & Company boosted their price target on shares of Best Buy from $67.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Nine equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $82.59.

Insider Activity at Best Buy

In other news, CAO Mathew Watson sold 3,715 shares of Best Buy stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $74.07, for a total value of $275,170.05. Following the transaction, the chief accounting officer directly owned 22,150 shares of the company's stock, valued at $1,640,650.50. This trade represents a 14.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Richard M. Schulze sold 729,201 shares of Best Buy 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 completion of the transaction, the chairman directly owned 196,100 shares in the company, valued at approximately $14,305,495. This trade represents a 78.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 931,034 shares of company stock worth $68,136,685. 0.47% of the stock is currently owned by insiders.

About Best Buy

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.