Best Buy Co., Inc. $BBY Position Increased by Ieq Capital LLC

Ieq Capital LLC boosted its stake in Best Buy Co., Inc. (NYSE:BBY) by 45.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 578,260 shares of the technology retailer’s stock after buying an additional 180,538 shares during the period. Ieq Capital LLC owned 0.28% of Best Buy worth $38,703,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Torren Management LLC acquired a new stake in Best Buy in the 4th quarter valued at approximately $25,000. Palisade Asset Management LLC acquired a new position in Best Buy during the 3rd quarter worth $25,000. Hillsdale Investment Management Inc. bought a new position in shares of Best Buy in the fourth quarter worth $29,000. Quest 10 Wealth Builders Inc. increased its holdings in shares of 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 purchasing an additional 311 shares during the period. Finally, Activest Wealth Management increased its holdings in shares of Best Buy by 1,247.1% during the fourth quarter. Activest Wealth Management now owns 458 shares of the technology retailer’s stock valued at $31,000 after purchasing an additional 424 shares during the period. 80.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Best Buy

In other news, CEO Corie S. Barry sold 42,869 shares of the company’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $64.02, for a total transaction of $2,744,473.38. Following the completion of the sale, the chief executive officer directly owned 523,138 shares of the company’s stock, valued at $33,491,294.76. This represents a 7.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Richard M. Schulze sold 500,350 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $76.12, for a total value of $38,086,642.00. Following the completion of the transaction, the chairman owned 10,930,586 shares of the company’s stock, valued at $832,036,206.32. This trade represents a 4.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 579,381 shares of company stock worth $43,163,654. 0.47% of the stock is owned by insiders.

Best Buy Price Performance

Shares of NYSE BBY opened at $78.70 on Friday. Best Buy Co., Inc. has a twelve month low of $55.10 and a twelve month high of $84.99. The company has a current ratio of 1.12, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. The firm has a 50-day moving average of $64.51 and a two-hundred day moving average of $66.77. The company has a market capitalization of $16.59 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 2.05 and a beta of 1.30.

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. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. The company had revenue of $8.94 billion for the quarter, compared to analysts’ expectations of $8.82 billion. During the same quarter in the previous year, the company posted $1.15 EPS. The business’s revenue was up 1.9% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, analysts expect that Best Buy Co., Inc. will post 6.56 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

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

Analyst Upgrades and Downgrades

BBY has been the subject of several research analyst reports. HSBC reduced their price objective on shares of Best Buy from $96.00 to $85.00 in a report on Thursday, February 26th. Wedbush boosted their price target on shares of Best Buy from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Guggenheim reiterated a “buy” rating and issued a $90.00 price objective on shares of Best Buy in a report on Friday, May 29th. JPMorgan Chase & Co. raised their price objective on shares of Best Buy from $76.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Finally, KeyCorp reissued a “sector weight” rating on shares of Best Buy in a report on Wednesday, March 4th. Six equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average 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.