Blackhawk Capital Partners LLC Buys 9,539 Shares of Best Buy Co., Inc. $BBY

Blackhawk Capital Partners LLC raised its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 49.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,797 shares of the technology retailer’s stock after purchasing an additional 9,539 shares during the period. Blackhawk Capital Partners LLC’s holdings in Best Buy were worth $1,849,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of BBY. Krane Funds Advisors LLC grew its position in Best Buy by 3.0% in the 4th quarter. Krane Funds Advisors LLC now owns 5,163 shares of the technology retailer’s stock valued at $346,000 after acquiring an additional 151 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its stake 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 worth $1,114,000 after purchasing 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 worth $286,000 after purchasing an additional 157 shares during the last quarter. International Private Wealth Advisors LLC grew its position in Best Buy by 5.2% during 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 during the period. Finally, J. Team Financial Inc. lifted its stake in shares of Best Buy by 4.2% in the 4th quarter. J. Team Financial Inc. now owns 4,251 shares of the technology retailer’s stock valued at $285,000 after purchasing an additional 171 shares during the period. 80.96% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Best Buy news, CAO Mathew Watson sold 1,784 shares of the firm’s 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 transaction, the chief accounting officer directly owned 21,630 shares of the company’s stock, valued at approximately $1,596,294. This trade represents a 7.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Richard M. Schulze sold 224,705 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $78.10, for a total value of $17,549,460.50. Following the sale, the chairman directly owned 10,430,936 shares of the company’s stock, valued at approximately $814,656,101.60. This represents a 2.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 1,002,134 shares of company stock valued at $77,283,527. 0.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BBY. JPMorgan Chase & Co. lifted their price target on Best Buy from $76.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Guggenheim reissued a “buy” rating and issued a $90.00 price target on shares of Best Buy in a research note on Friday, May 29th. Telsey Advisory Group set a $90.00 price objective on Best Buy and gave the stock an “outperform” rating in a research note on Friday, May 29th. Wells Fargo & Company upped their target price on Best Buy from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Thursday, May 28th. Finally, BNP Paribas Exane boosted their price target on shares of Best Buy from $74.00 to $76.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Five research 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $79.50.

Best Buy Trading Up 1.5%

NYSE:BBY opened at $85.22 on Thursday. Best Buy Co., Inc. has a 12-month low of $55.10 and a 12-month high of $86.35. The stock has a fifty day moving average price of $71.65 and a 200 day moving average price of $67.34. 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 firm has a market cap of $17.96 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 2.23 and a beta of 1.30.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Thursday, May 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate 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 revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.15 EPS. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Sell-side analysts anticipate that Best Buy Co., Inc. will post 6.56 earnings per share for the current fiscal year.

Best Buy Announces Dividend

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

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.