Best Buy Co., Inc. $BBY Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund increased its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 4.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 220,743 shares of the technology retailer’s stock after buying an additional 9,854 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Best Buy were worth $14,172,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in BBY. Krane Funds Advisors LLC boosted its holdings in shares of Best Buy by 3.0% in the fourth 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 period. Linden Thomas Advisory Services LLC increased its holdings 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 acquiring an additional 152 shares during the period. Applied Finance Capital Management LLC increased its holdings 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 acquiring an additional 157 shares during the period. International Private Wealth Advisors LLC raised its position 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 purchasing an additional 165 shares during the last quarter. Finally, J. Team Financial Inc. raised its position in 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 last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Price Performance

Shares of NYSE BBY opened at $85.46 on Friday. The stock has a fifty day moving average price of $72.19 and a 200 day moving average price of $67.45. Best Buy Co., Inc. has a 1-year low of $55.10 and a 1-year high of $87.35. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 0.40. The company has a market cap of $18.01 billion, a PE ratio of 15.83, a P/E/G ratio of 2.27 and a beta of 1.30.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Thursday, May 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.05. The company had revenue of $8.94 billion for 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%. Best Buy’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.15 EPS. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Sell-side analysts forecast that Best Buy Co., Inc. will post 6.56 EPS for the current year.

Best Buy Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BBY. The Goldman Sachs Group increased their price target on shares of Best Buy from $59.00 to $62.00 and gave the stock a “sell” rating in a research note on Friday, May 29th. Guggenheim reaffirmed a “buy” rating and issued a $90.00 target price on shares of Best Buy in a report on Friday, May 29th. Morgan Stanley upped their target price on shares of Best Buy from $72.00 to $80.00 and gave the company an “equal weight” rating in a report on Friday, May 29th. DA Davidson reiterated a “buy” rating and set a $90.00 target price on shares of Best Buy in a research note on Monday, June 22nd. Finally, Daiwa Securities Group raised their price target on Best Buy from $68.00 to $77.00 and gave the stock a “neutral” rating in a report on Tuesday, June 2nd. Five investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Best Buy presently has an average rating of “Hold” and an average price target of $79.50.

Insider Transactions at Best Buy

In related news, CAO Mathew Watson sold 1,784 shares of the firm’s stock in a transaction dated 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 sale, the chief accounting officer owned 21,630 shares in the company, valued at $1,596,294. This trade 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 is available at this link. Also, Chairman Richard M. Schulze sold 500,350 shares of Best Buy stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $76.12, for a total value of $38,086,642.00. Following the completion of the sale, the chairman directly owned 10,930,586 shares in the company, valued at $832,036,206.32. This represents a 4.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 1,002,134 shares of company stock worth $77,283,527. Company insiders own 0.50% of the company’s stock.

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.