Best Buy Co., Inc. $BBY Position Decreased by Stonebrook Private Inc.

Stonebrook Private Inc. decreased its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 65.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,562 shares of the technology retailer’s stock after selling 12,233 shares during the period. Stonebrook Private Inc.’s holdings in Best Buy were worth $439,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Palisade Asset Management LLC bought a new position in shares of Best Buy during the 3rd quarter valued at about $25,000. Torren Management LLC bought a new position in shares of Best Buy during the 4th quarter valued at about $25,000. Hillsdale Investment Management Inc. bought a new position in shares of Best Buy during the 4th quarter valued at about $29,000. Quest 10 Wealth Builders Inc. boosted its position in shares of Best Buy by 239.2% during the 4th 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 in the last quarter. Finally, Activest Wealth Management boosted its position in shares of Best Buy by 1,247.1% during the 4th quarter. Activest Wealth Management now owns 458 shares of the technology retailer’s stock valued at $31,000 after purchasing an additional 424 shares in the last quarter. Institutional investors own 80.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BBY shares. Guggenheim restated a “buy” rating and set a $90.00 price objective on shares of Best Buy in a research report on Friday, May 29th. HSBC reduced their price objective on shares of Best Buy from $96.00 to $85.00 in a research report on Thursday, February 26th. Truist Financial raised their price objective on shares of Best Buy from $66.00 to $81.00 and gave the company a “hold” rating in a research report on Friday, May 29th. Evercore upped their price objective on shares of Best Buy from $65.00 to $85.00 in a research note on Friday, May 29th. Finally, Jefferies Financial Group upped their price objective on shares of Best Buy from $83.00 to $89.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Six analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $79.05.

Best Buy Price Performance

BBY stock opened at $75.16 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. Best Buy Co., Inc. has a one year low of $55.10 and a one year high of $84.99. The firm has a market capitalization of $15.84 billion, a PE ratio of 13.92, a P/E/G ratio of 1.97 and a beta of 1.30. The firm has a 50-day moving average of $63.73 and a two-hundred day moving average of $66.66.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Thursday, May 28th. The technology retailer reported $1.28 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $8.82 billion. During the same period in the prior year, the firm earned $1.15 earnings per share. The business’s quarterly revenue was up 1.9% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. On average, analysts forecast that Best Buy Co., Inc. will post 6.56 earnings per share for the current year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Thursday, June 18th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Thursday, June 18th. Best Buy’s dividend payout ratio (DPR) is currently 71.11%.

Insider Buying and Selling at Best Buy

In related news, Chairman Richard M. Schulze sold 500,350 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $832,036,206.32. This trade represents a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Matthew M. Bilunas sold 11,356 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $64.02, for a total transaction of $727,011.12. Following the sale, the chief financial officer owned 76,884 shares of the company’s stock, valued at approximately $4,922,113.68. This represents a 12.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 579,381 shares of company stock valued at $43,163,654 in the last 90 days. Corporate insiders own 0.59% of the company’s stock.

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.