20,007 Shares in Best Buy Co., Inc. $BBY Purchased by OP Asset Management Ltd

OP Asset Management Ltd bought a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 20,007 shares of the technology retailer’s stock, valued at approximately $1,284,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Huntington National Bank lifted its position in shares of Best Buy by 12.0% during the third quarter. Huntington National Bank now owns 1,298 shares of the technology retailer’s stock worth $98,000 after purchasing an additional 139 shares in the last quarter. Krane Funds Advisors LLC grew its holdings in shares of 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 purchasing an additional 151 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its holdings in Best Buy by 0.9% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 16,637 shares of the technology retailer’s stock worth $1,114,000 after buying an additional 152 shares in the last quarter. Applied Finance Capital Management LLC raised its stake in shares of Best Buy by 3.8% in 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 in the last quarter. Finally, International Private Wealth Advisors LLC boosted its holdings in Best Buy by 5.2% in the fourth quarter. International Private Wealth Advisors LLC now owns 3,345 shares of the technology retailer’s stock valued at $224,000 after purchasing an additional 165 shares during the period. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on BBY shares. JPMorgan Chase & Co. boosted their target price on Best Buy from $76.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Piper Sandler reiterated a “neutral” rating and issued a $77.00 price objective on shares of Best Buy in a research note on Thursday, May 28th. The Goldman Sachs Group boosted their price objective on Best Buy from $59.00 to $62.00 and gave the stock a “sell” rating in a research report on Friday, May 29th. DA Davidson restated a “buy” rating and set a $90.00 target price on shares of Best Buy in a research note on Monday, June 22nd. Finally, Morgan Stanley lifted their price target on shares of Best Buy from $72.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Friday, May 29th. Six equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $79.50.

Best Buy Trading Down 0.0%

NYSE:BBY opened at $77.70 on Tuesday. The stock has a 50-day simple moving average of $67.27 and a 200-day simple moving average of $66.67. The stock has a market cap of $16.38 billion, a P/E ratio of 14.39, a P/E/G ratio of 2.07 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 company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 1.12.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.05. The firm had revenue of $8.94 billion during the quarter, compared to the consensus estimate of $8.82 billion. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior 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, analysts anticipate that Best Buy Co., Inc. will post 6.56 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th will be issued a $0.96 dividend. 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 is presently 71.11%.

Insiders Place Their Bets

In related news, CAO Mathew Watson sold 1,784 shares of Best Buy stock in a transaction on Friday, May 29th. The shares were 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 in the company, valued at $1,596,294. This trade represents a 7.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Richard M. Schulze sold 500,350 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $76.12, for a total transaction of $38,086,642.00. Following the completion of the sale, the chairman directly owned 10,930,586 shares of the company’s stock, valued at approximately $832,036,206.32. This trade represents a 4.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,002,134 shares of company stock worth $77,283,527 over the last ninety days. Insiders own 0.50% of the company’s stock.

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.