Stonebrook Private Inc. Sells 12,233 Shares of Best Buy Co., Inc. $BBY

Stonebrook Private Inc. cut its holdings in Best Buy Co., Inc. (NYSE:BBY) by 65.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,562 shares of the technology retailer’s stock after selling 12,233 shares during the period. Stonebrook Private Inc.’s holdings in Best Buy were worth $439,000 at the end of the most recent reporting period.

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

Insider Activity

In other Best Buy news, CFO Matthew M. Bilunas sold 11,356 shares of Best Buy stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total transaction of $727,011.12. Following the sale, the chief financial officer owned 76,884 shares in the company, valued at $4,922,113.68. The trade was a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Mathew Watson sold 1,784 shares of Best Buy stock in a transaction 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 sale, the chief accounting officer owned 21,630 shares in the company, valued at $1,596,294. This represents a 7.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 579,381 shares of company stock valued at $43,163,654. 0.59% of the stock is owned by insiders.

Best Buy Trading Up 1.3%

Shares of Best Buy stock opened at $75.16 on Wednesday. The company’s fifty day simple moving average is $63.73 and its 200-day simple moving average is $66.66. The company has a market cap of $15.84 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 1.97 and a beta of 1.30. 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 1 year low of $55.10 and a 1 year high of $84.99.

Best Buy (NYSE:BBY) last announced 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 business had revenue of $8.94 billion for the quarter, compared to the consensus estimate of $8.82 billion. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. Best Buy’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the company posted $1.15 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, sell-side analysts expect that Best Buy Co., Inc. will post 6.56 EPS for the current year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders 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 dividend on an annualized basis and a yield of 5.1%. Best Buy’s payout ratio is currently 71.11%.

Analyst Ratings Changes

A number of research firms have recently commented on BBY. Telsey Advisory Group set a $90.00 price target on shares of Best Buy and gave the company an “outperform” rating in a research report on Friday, May 29th. Piper Sandler reissued a “neutral” rating and issued a $77.00 price target on shares of Best Buy in a research report on Thursday, May 28th. Wells Fargo & Company lifted their price target on shares of Best Buy from $60.00 to $65.00 and gave the company an “equal weight” rating in a research report on Thursday, May 28th. Citigroup lifted their price target on shares of Best Buy from $60.00 to $79.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Finally, The Goldman Sachs Group raised their price objective on shares of Best Buy from $59.00 to $62.00 and gave the stock a “sell” rating in a research note on Friday, May 29th. Six research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $79.05.

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.