TMB Capital Partners LLC Takes Position in Best Buy Co., Inc. $BBY

TMB Capital Partners LLC acquired a new position in shares of Best Buy Co., Inc. (NYSE:BBY) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 8,912 shares of the technology retailer’s stock, valued at approximately $596,000.

Other hedge funds have also modified their holdings of the company. Huntington National Bank raised 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 during the period. Krane Funds Advisors LLC lifted its holdings in shares of Best Buy by 3.0% during 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 during the last quarter. Linden Thomas Advisory Services LLC boosted its position in shares of 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 purchasing an additional 152 shares during the period. Applied Finance Capital Management LLC boosted its position in shares of Best Buy by 3.8% in the 4th 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 period. Finally, International Private Wealth Advisors LLC increased 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 worth $224,000 after purchasing an additional 165 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Best Buy

In related news, CFO Matthew M. Bilunas sold 11,356 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total transaction of $727,011.12. Following the transaction, the chief financial officer directly owned 76,884 shares of the company’s stock, valued at approximately $4,922,113.68. The trade was a 12.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Mathew Watson sold 1,784 shares of the company’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 transaction 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 represents a 7.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 660,780 shares of company stock valued at $49,530,325 in the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Best Buy Stock Up 2.4%

NYSE:BBY opened at $74.89 on Friday. The firm has a market capitalization of $15.78 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 1.95 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 current ratio of 1.12, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. The business’s fifty day moving average price is $65.39 and its 200 day moving average price is $66.56.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Thursday, May 28th. The technology retailer reported $1.28 EPS for the quarter, topping 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 firm had revenue of $8.94 billion during the quarter, compared to analyst estimates of $8.82 billion. During the same period last year, the company posted $1.15 EPS. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. On average, sell-side analysts forecast 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 declared 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. This represents a $3.84 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend is Thursday, June 18th. Best Buy’s dividend payout ratio is 71.11%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BBY shares. Truist Financial boosted their price objective on Best Buy from $66.00 to $81.00 and gave the stock a “hold” rating in a report on Friday, May 29th. HSBC dropped their target price on shares of Best Buy from $96.00 to $85.00 in a research report on Thursday, February 26th. JPMorgan Chase & Co. boosted their price target on shares of Best Buy from $76.00 to $84.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Daiwa Securities Group upped their price target on shares of Best Buy from $68.00 to $77.00 and gave the company a “neutral” rating in a research report on Tuesday, June 2nd. Finally, Jefferies Financial Group upped their price target on shares of Best Buy from $83.00 to $89.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Six analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $79.05.

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.