Best Buy Co., Inc. $BBY Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP grew its stake in Best Buy Co., Inc. (NYSE:BBY) by 8.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 687,510 shares of the technology retailer’s stock after purchasing an additional 51,176 shares during the period. Quantinno Capital Management LP owned about 0.33% of Best Buy worth $44,138,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC lifted its stake in shares of Best Buy by 99.8% in the 3rd quarter. AQR Capital Management LLC now owns 6,997,871 shares of the technology retailer’s stock valued at $525,120,000 after purchasing an additional 3,496,254 shares during the period. Norges Bank acquired a new stake in Best Buy during the fourth quarter valued at $174,685,000. Schroder Investment Management Group grew its position in Best Buy by 378.8% during the fourth quarter. Schroder Investment Management Group now owns 3,096,015 shares of the technology retailer’s stock valued at $207,216,000 after buying an additional 2,449,342 shares during the period. Hsbc Holdings PLC increased its holdings in Best Buy by 104.1% in the fourth quarter. Hsbc Holdings PLC now owns 2,020,539 shares of the technology retailer’s stock valued at $135,685,000 after buying an additional 1,030,544 shares in the last quarter. Finally, KBC Group NV increased its holdings in Best Buy by 293.6% in the fourth quarter. KBC Group NV now owns 1,052,805 shares of the technology retailer’s stock valued at $70,464,000 after buying an additional 785,294 shares in the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Best Buy news, Chairman Richard M. Schulze sold 500,350 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $76.12, for a total transaction 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 represents a 4.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mathew Watson sold 1,784 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $73.80, for a total value of $131,659.20. Following the completion of the transaction, the chief accounting officer owned 21,630 shares in the company, valued at approximately $1,596,294. This trade represents a 7.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,002,134 shares of company stock valued at $77,283,527 in the last three months. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

BBY has been the topic of several recent analyst reports. DA Davidson reissued a “buy” rating and set a $90.00 target price on shares of Best Buy in a research note on Monday, June 22nd. Wells Fargo & Company lifted their price target on Best Buy from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Thursday, May 28th. KeyCorp reaffirmed a “sector weight” rating on shares of Best Buy in a report on Monday, June 22nd. Weiss Ratings upgraded Best Buy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Finally, Guggenheim reissued a “buy” rating and issued a $90.00 price objective on shares of Best Buy in a report on Friday, May 29th. Five analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $79.50.

Best Buy Stock Up 0.8%

Shares of NYSE BBY opened at $90.19 on Thursday. The company’s 50-day simple moving average is $77.39 and its 200-day simple moving average is $68.57. Best Buy Co., Inc. has a 52-week low of $55.10 and a 52-week high of $91.27. The firm has a market cap of $19.01 billion, a price-to-earnings ratio of 16.70, a price-to-earnings-growth ratio of 2.38 and a beta of 1.30. The company has a quick ratio of 0.40, a current ratio of 1.12 and a debt-to-equity ratio of 0.38.

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

Best Buy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, June 18th were paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 4.3%. The ex-dividend date was Thursday, June 18th. Best Buy’s payout ratio is 71.11%.

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.