Krilogy Financial LLC Lowers Holdings in Best Buy Co., Inc. $BBY

Krilogy Financial LLC decreased its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 70.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 6,076 shares of the technology retailer’s stock after selling 14,264 shares during the quarter. Krilogy Financial LLC’s holdings in Best Buy were worth $393,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Huntington National Bank grew its stake in shares of Best Buy by 12.0% during the 3rd quarter. Huntington National Bank now owns 1,298 shares of the technology retailer’s stock valued at $98,000 after buying an additional 139 shares during the period. Krane Funds Advisors LLC boosted its holdings in Best Buy by 3.0% in the fourth quarter. Krane Funds Advisors LLC now owns 5,163 shares of the technology retailer’s stock valued at $346,000 after acquiring an additional 151 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in Best Buy by 0.9% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 16,637 shares of the technology retailer’s stock valued at $1,114,000 after acquiring an additional 152 shares during the last quarter. Applied Finance Capital Management LLC grew its position in Best Buy by 3.8% during the fourth quarter. Applied Finance Capital Management LLC now owns 4,270 shares of the technology retailer’s stock valued at $286,000 after acquiring an additional 157 shares during the period. Finally, International Private Wealth Advisors LLC grew its position in Best Buy by 5.2% during the fourth quarter. International Private Wealth Advisors LLC now owns 3,345 shares of the technology retailer’s stock valued at $224,000 after acquiring an additional 165 shares during the period. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Insider Transactions at Best Buy

In other Best Buy news, CAO Mathew Watson sold 1,784 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $73.80, for a total transaction of $131,659.20. Following the completion of the sale, the chief accounting officer owned 21,630 shares in the company, valued at $1,596,294. This trade represents a 7.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Richard M. Schulze sold 224,705 shares of the company’s stock in a transaction that occurred 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 directly owned 10,430,936 shares in the company, valued at approximately $814,656,101.60. The trade was a 2.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 1,002,134 shares of company stock worth $77,283,527. Corporate insiders own 0.50% of the company’s stock.

Best Buy Trading Up 0.3%

NYSE BBY opened at $77.91 on Monday. The stock has a market cap of $16.42 billion, a P/E ratio of 14.43, a PEG ratio of 2.07 and a beta of 1.30. The company’s fifty day simple moving average is $67.01 and its 200-day simple moving average is $66.64. The company has a current ratio of 1.12, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. Best Buy Co., Inc. has a 52 week low of $55.10 and a 52 week high of $84.99.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share for the quarter, beating 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 analyst estimates of $8.82 billion. During the same period last year, the business earned $1.15 EPS. The business’s 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 research analysts predict that Best Buy Co., Inc. will post 6.56 EPS for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th will be paid 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 4.9%. Best Buy’s dividend payout ratio (DPR) is currently 71.11%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BBY shares. UBS Group restated a “neutral” rating and issued a $86.00 price objective (up from $85.00) on shares of Best Buy in a report on Friday, May 29th. Wells Fargo & Company increased their target price on shares of Best Buy from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 28th. Wall Street Zen upgraded shares of Best Buy from a “hold” rating to a “buy” rating in a report on Saturday, June 20th. BNP Paribas Exane lifted their price target on shares of Best Buy from $74.00 to $76.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Finally, Jefferies Financial Group boosted their price objective on shares of Best Buy from $83.00 to $89.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Six equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $79.50.

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.