Aware Super Pty Ltd as trustee of Aware Super Acquires Shares of 103,427 Best Buy Co., Inc. $BBY

Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in shares of Best Buy Co., Inc. (NYSE:BBY) in the 1st quarter, HoldingsChannel reports. The institutional investor purchased 103,427 shares of the technology retailer’s stock, valued at approximately $6,640,000.

A number of other institutional investors and hedge funds have also bought and sold shares of BBY. Krane Funds Advisors LLC lifted its position in shares of Best Buy by 3.0% during the 4th quarter. Krane Funds Advisors LLC now owns 5,163 shares of the technology retailer’s stock worth $346,000 after buying an additional 151 shares during the period. Linden Thomas Advisory Services LLC lifted its position in Best Buy by 0.9% in the 4th 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 in the last quarter. Applied Finance Capital Management LLC boosted 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 purchasing an additional 157 shares during the last quarter. International Private Wealth Advisors LLC raised its stake in Best Buy by 5.2% in the 4th 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. Finally, J. Team Financial Inc. lifted its holdings in Best Buy by 4.2% during the 4th quarter. J. Team Financial Inc. now owns 4,251 shares of the technology retailer’s stock worth $285,000 after purchasing an additional 171 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Performance

BBY stock opened at $85.75 on Friday. The company has a quick ratio of 0.40, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. The business’s fifty day simple moving average is $72.71 and its two-hundred day simple moving average is $67.58. The firm has a market cap of $18.07 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 2.27 and a beta of 1.30. Best Buy Co., Inc. has a twelve month low of $55.10 and a twelve month high of $87.35.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Thursday, May 28th. The technology retailer reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.05. The company had revenue of $8.94 billion during the quarter, compared to analysts’ expectations of $8.82 billion. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business posted $1.15 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Analysts predict that Best Buy Co., Inc. will post 6.56 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th were issued a dividend of $0.96 per share. The ex-dividend date was Thursday, June 18th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.5%. Best Buy’s dividend payout ratio is currently 71.11%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BBY. Guggenheim reissued a “buy” rating and issued a $90.00 price objective on shares of Best Buy in a research note 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 stock a “neutral” rating in a report on Friday, May 29th. KeyCorp reissued a “sector weight” rating on shares of Best Buy in a report on Monday, June 22nd. UBS Group reiterated a “neutral” rating and set a $86.00 price target (up from $85.00) on shares of Best Buy in a research report on Friday, May 29th. Finally, Morgan Stanley lifted their price objective on Best Buy from $72.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th. Five investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $79.50.

Insider Buying and Selling

In other news, CAO Mathew Watson sold 1,784 shares of the stock in a transaction dated 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 owned 21,630 shares of the company’s stock, valued at approximately $1,596,294. This represents a 7.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Richard M. Schulze sold 224,705 shares of the stock in a transaction 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 $814,656,101.60. This trade represents a 2.11% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,002,134 shares of company stock worth $77,283,527. 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.