Thompson Siegel & Walmsley LLC Invests $4.40 Million in Best Buy Co., Inc. $BBY

Key Points

• Thompson Siegel & Walmsley opened a new position in Best Buy during the fourth quarter, buying 65,700 shares worth about $4.4 million. Other institutional investors also added to their stakes, and institutions now own 80.96% of the stock.
• Best Buy reported better-than-expected quarterly results, with EPS of $1.28 and revenue of $8.94 billion, helped by stronger AI laptop demand and gaming sales. Management also reaffirmed its fiscal 2027 outlook.
• The company announced a quarterly dividend of $0.96 per share, equal to an annualized yield of about 5.1%. Meanwhile, analysts remain cautious overall, with a Hold consensus and an average price target of $78.60.

Thompson Siegel & Walmsley LLC acquired a new position in Best Buy Co., Inc. (NYSE:BBY - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 65,700 shares of the technology retailer's stock, valued at approximately $4,397,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BBY. Woodline Partners LP increased its stake in Best Buy by 40.1% during the first quarter. Woodline Partners LP now owns 16,436 shares of the technology retailer's stock valued at $1,210,000 after acquiring an additional 4,701 shares during the period. Daiwa Securities Group Inc. increased its stake in Best Buy by 4.4% during the second quarter. Daiwa Securities Group Inc. now owns 29,560 shares of the technology retailer's stock valued at $1,984,000 after acquiring an additional 1,234 shares during the period. Investment Management Corp of Ontario increased its stake in Best Buy by 127.7% during the second quarter. Investment Management Corp of Ontario now owns 12,997 shares of the technology retailer's stock valued at $872,000 after acquiring an additional 7,288 shares during the period. Ieq Capital LLC increased its stake in Best Buy by 155.4% during the second quarter. Ieq Capital LLC now owns 160,568 shares of the technology retailer's stock valued at $10,779,000 after acquiring an additional 97,688 shares during the period. Finally, Alliancebernstein L.P. increased its stake in Best Buy by 32.0% during the second quarter. Alliancebernstein L.P. now owns 313,584 shares of the technology retailer's stock valued at $21,051,000 after acquiring an additional 76,102 shares during the period. 80.96% of the stock is currently owned by institutional investors.

Best Buy Stock Down 3.9%

Shares of BBY opened at $74.89 on Tuesday. The business's 50 day simple moving average is $62.51 and its 200-day simple moving average is $66.78. Best Buy Co., Inc. has a one year low of $55.10 and a one year high of $84.99. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 0.40. The company has a market capitalization of $15.78 billion, a P/E ratio of 13.87, a PEG ratio of 2.09 and a beta of 1.30.

Best Buy (NYSE:BBY - Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.05. The firm had revenue of $8.94 billion for the quarter, compared to the consensus estimate of $8.82 billion. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.The business's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.15 EPS. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, sell-side analysts predict that Best Buy Co., Inc. will post 6.5 EPS for the current fiscal year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th will be given a dividend of $0.96 per share. The ex-dividend date is Thursday, June 18th. This represents a $3.84 annualized dividend and a dividend yield of 5.1%. Best Buy's payout ratio is presently 71.11%.

Insider Activity at Best Buy

In other Best Buy news, EVP Kathleen Scarlett sold 8,049 shares of the company's stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total transaction of $515,296.98. Following the completion of the sale, the executive vice president owned 102,669 shares in the company, valued at approximately $6,572,869.38. The trade was a 7.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Mathew Watson sold 3,298 shares of the company's stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total transaction of $211,137.96. Following the sale, the chief accounting officer owned 23,192 shares of the company's stock, valued at $1,484,751.84. The trade was a 12.45% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 77,247 shares of company stock worth $4,945,353. 0.47% of the stock is owned by company insiders.

Key Headlines Impacting Best Buy

Here are the key news stories impacting Best Buy this week:

• Positive Sentiment: Best Buy’s latest quarter came in ahead of expectations, with revenue of $8.94 billion and EPS of $1.28, helped by stronger AI laptop demand and gaming sales. Should You Buy Best Buy Stock for Its 4.9%-Yielding Dividend?
• Positive Sentiment: Management highlighted growth in Marketplace and Best Buy Ads, plus new tech launches, while reaffirming its fiscal 2027 outlook. Best Buy Q1 Earnings Call Highlights Marketplace Growth, CEO Shift
• Positive Sentiment: Commentary around AI-powered laptops and the company’s turnaround potential has added optimism that Best Buy can benefit from better product cycles and demand trends. Best Buy’s AI Laptop Boost Sparks Hope for a BBY Turnaround
• Positive Sentiment: Jim Cramer also pointed to Best Buy as a strong performer, reinforcing a bullish investor narrative around the stock. Jim Cramer Highlights the Strong Performance of Best Buy
• Neutral Sentiment: Several articles frame Best Buy as a closely watched retail name and discuss whether the stock is undervalued, suggesting investors are still debating the durability of the rebound. Best Buy Co Inc (BBY) Stock Down 3.8% -- Now Undervalued? GF Score: 72/100
• Negative Sentiment: Despite solid earnings, BBY has sold off, indicating the market may be reacting to valuation concerns, expectations for slower growth, or simple post-earnings profit-taking. Best Buy Co Inc (BBY) Stock Down 3.8% -- Now Undervalued? GF Score: 72/100
• Negative Sentiment: A separate article cautioning on unpopular stocks may add a modestly bearish tone, though it does not appear to cite a new company-specific problem. 3 Unpopular Stocks We Approach with Caution

Analysts Set New Price Targets

Several brokerages recently issued reports on BBY. BNP Paribas Exane boosted their price target on Best Buy from $74.00 to $76.00 and gave the company a "neutral" rating in a research note on Friday. UBS Group restated a "neutral" rating and set a $86.00 price target (up from $85.00) on shares of Best Buy in a research note on Friday. Morgan Stanley boosted their price target on Best Buy from $72.00 to $80.00 and gave the company an "equal weight" rating in a research note on Friday. Wedbush boosted their price target on Best Buy from $70.00 to $75.00 and gave the company a "neutral" rating in a research note on Friday. Finally, Jefferies Financial Group lifted their price objective on Best Buy from $83.00 to $89.00 and gave the company a "buy" rating in a report on Thursday, May 28th. Six equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $78.60.

About Best Buy

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.

Want to see what other hedge funds are holding BBY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Best Buy Co., Inc. (NYSE:BBY - Free Report).

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.