Tulsa Wealth Advisors INC Buys New Shares in Best Buy Co., Inc. $BBY

Tulsa Wealth Advisors INC bought a new position in shares of Best Buy Co., Inc. (NYSE:BBY) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 42,597 shares of the technology retailer’s stock, valued at approximately $2,851,000. Best Buy makes up approximately 0.9% of Tulsa Wealth Advisors INC’s portfolio, making the stock its 29th largest position.

Several other large investors have also recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd bought a new position in Best Buy in the fourth quarter valued at approximately $404,000. Avory & Company LLC increased its position in shares of Best Buy by 6.4% during the 4th quarter. Avory & Company LLC now owns 3,479 shares of the technology retailer’s stock worth $233,000 after purchasing an additional 210 shares during the last quarter. SG Trading Solutions LLC bought a new stake in shares of Best Buy during the 4th quarter worth approximately $207,000. Phillip James Consulting Co. acquired a new stake in shares of Best Buy in the 4th quarter valued at approximately $233,000. Finally, MV Capital Management Inc. acquired a new stake in shares of Best Buy in the 4th quarter valued at approximately $25,000. 80.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on BBY. Morgan Stanley raised their target price on shares of Best Buy from $72.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. Truist Financial increased their price target on shares of Best Buy from $66.00 to $81.00 and gave the company a “hold” rating in a research note on Friday, May 29th. Weiss Ratings raised shares of Best Buy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Guggenheim restated a “buy” rating and set a $90.00 price objective on shares of Best Buy in a research note on Friday, May 29th. Finally, BNP Paribas Exane upped their target price on shares of Best Buy from $74.00 to $76.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Six 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. Based on data from MarketBeat.com, Best Buy has an average rating of “Hold” and an average target price of $79.05.

Best Buy Stock Up 0.2%

BBY stock opened at $74.89 on Friday. 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 market capitalization of $15.78 billion, a PE ratio of 13.87, a PEG ratio of 1.99 and a beta of 1.30. Best Buy Co., Inc. has a 1-year low of $55.10 and a 1-year high of $84.99. The business’s 50 day simple moving average is $65.59 and its 200 day simple moving average is $66.62.

Best Buy (NYSE:BBY) last posted 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 return on equity of 48.70% and a net margin of 2.73%.The business had revenue of $8.94 billion for the quarter, compared to analysts’ expectations of $8.82 billion. During the same quarter in the prior year, the business earned $1.15 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, research analysts anticipate that Best Buy Co., Inc. will post 6.56 EPS for the current 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 $0.96 dividend. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $3.84 annualized dividend and a dividend yield of 5.1%. Best Buy’s dividend payout ratio is presently 71.11%.

Insider Activity at Best Buy

In other news, CEO Corie S. Barry sold 42,869 shares of the firm’s stock in a transaction dated Monday, March 23rd. The shares were 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 owned 523,138 shares in the company, valued at approximately $33,491,294.76. This trade represents a 7.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Mathew Watson sold 1,784 shares of Best Buy stock in a transaction dated 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 directly owned 21,630 shares of the company’s stock, valued at $1,596,294. The trade was a 7.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 660,780 shares of company stock worth $49,530,325 in the last quarter. 0.50% of the stock is owned by corporate insiders.

Best Buy Company 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.