10,749 Shares in Best Buy Co., Inc. $BBY Purchased by Tred Avon Family Wealth LLC

Tred Avon Family Wealth LLC purchased a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 10,749 shares of the technology retailer’s stock, valued at approximately $690,000.

A number of other large investors also recently bought and sold shares of BBY. Palisade Asset Management LLC acquired a new stake in shares of Best Buy during the 3rd quarter worth approximately $25,000. MV Capital Management Inc. acquired a new position in shares of Best Buy in the 4th quarter valued at $25,000. Torren Management LLC purchased a new stake in Best Buy during the fourth quarter worth $25,000. Hillsdale Investment Management Inc. purchased a new stake in Best Buy during the fourth quarter worth $29,000. Finally, Quest 10 Wealth Builders Inc. grew its position in Best Buy by 239.2% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 441 shares of the technology retailer’s stock valued at $30,000 after buying an additional 311 shares during the period. 80.96% of the stock is owned by institutional investors and hedge funds.

Best Buy Stock Performance

BBY opened at $77.91 on Monday. The company has a quick ratio of 0.40, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. The company has a market cap of $16.42 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 2.07 and a beta of 1.30. Best Buy Co., Inc. has a 52-week low of $55.10 and a 52-week high of $84.99. The firm’s fifty day simple moving average is $67.01 and its two-hundred day simple moving average is $66.64.

Best Buy (NYSE:BBY) last released its earnings results on Thursday, May 28th. The technology retailer reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.05. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. The business had revenue of $8.94 billion during the quarter, compared to analysts’ expectations of $8.82 billion. During the same quarter in the previous year, the company earned $1.15 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Equities analysts anticipate that Best Buy Co., Inc. will post 6.56 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Thursday, June 18th will be given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Thursday, June 18th. Best Buy’s payout ratio is presently 71.11%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BBY shares. The Goldman Sachs Group lifted their price objective on shares of Best Buy from $59.00 to $62.00 and gave the company a “sell” rating in a report on Friday, May 29th. Daiwa Securities Group raised their target price on Best Buy from $68.00 to $77.00 and gave the company a “neutral” rating in a research report on Tuesday, June 2nd. Wedbush lifted 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, May 29th. Loop Capital reduced their price target on Best Buy from $85.00 to $82.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. Finally, UBS Group reiterated a “neutral” rating and set a $86.00 price target (up from $85.00) on shares of Best Buy in a research report on Friday, May 29th. Six equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $79.50.

Insider Activity at Best Buy

In related news, CAO Mathew Watson sold 1,784 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $73.80, for a total value of $131,659.20. Following the completion of the transaction, the chief accounting officer directly owned 21,630 shares of the company’s stock, valued at approximately $1,596,294. This represents a 7.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Richard M. Schulze sold 224,705 shares of the firm’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $78.10, for a total value of $17,549,460.50. Following the completion of the transaction, the chairman owned 10,430,936 shares in the company, valued at $814,656,101.60. The trade was a 2.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,002,134 shares of company stock valued at $77,283,527 over the last quarter. 0.50% of the stock is owned by company insiders.

Best Buy Profile

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.